Travel Expenses Made Simple

June,

I just received your checklist for expenses [Thank You] and I'm eager to order your book. My main confusion/challenge is categorizing travel expenses. Any suggestions &/or checklist for that?

Thanks in advance,
LoriAnn


Dear LoriAnn,

For tax purposes, categorizing travel expenses can be very simple.  The costs fall into two categories: meals & entertainment, and everything else.  That's because everything else can be deducted at 100% while you may deduct only 50% of your meals & entertainment expenses.

Here is a list of typical travel costs:
PLANE & RAIL FARES
TIPS & BAGGAGE
TAXIS & PUBLIC TRANSPORTATION
AUTO RENTALS
LODGING
TELEPHONE
LAUNDRY & CLEANING

TRAVEL MEALS
TRAVEL ENTERTAINMENT

You may read more info on travel expenses in these posts expenses -- travel

-- June