February 14, 2020 0 comment

How to get a bigger bang for your buck when you business travel

I’m in Las Vegas and you know what they say, or at least they started saying I think yesterday, “What happens in Vegas only happens in Vegas.” I don’t think that’s any more true than when it comes to food. In Las Vegas you can eat really well from all around the world. Tonight I had a meal here at Minchia’s. It’s an Italian restaurant here in Las Vegas and a great meal.

There’s only one thing better than having a great meal and that is being able to deduct your great meal. I wanted to explain to you about the travel rules and also covering meals. Maybe give you a couple hints how you can get a bigger bang for your buck when you travel, and of course the best way to travel is to make it business travel, because business travel is deductible.

When travel is for business you get to deduct your transportation costs. You get to deduct your lodging costs and you get to deduct your meal costs as well as some other miscellaneous costs.

So how do you get there and how do you do it and still be able to enjoy yourself? Maybe put in a few personal things into that travel and still legally get to deduct it.

Well without going too long let me give you one quick key, and that is you need to have  more work days than you have personal days.

Here’s the key!

For a day to be a work day you have to work 4 hours and one minute, and if you have a weekend, lets say you work 4 hours and one minute on Friday and you work 4 hours and one minute on Monday, well then guess what? Those weekend days just became work days too and by the way that works with holidays too. 

Let’s say it could be a 3 day weekend, there could be a holiday on Monday. You work on Friday, work on Tuesday and guess what, all those weekend days including the holiday become work days and you get to deduct your lodging, your meals, transportation, and miscellaneous other things. 

You know what, if I needed a haircut today I could go get a haircut and those would become deductible. If I needed my clothes cleaned, I could deduct those while I’m traveling. There’s a lot of costs I could deduct while I’m traveling including meals and of course for meals you get to deduct half the cost of your meal. Well hey for many of you that more than pays for the tip.