Business Trips
and Convention Travel
Tax Tips on Mixing Business with Pleasure
It’s not uncommon for business meetings and conventions to be located in
vacation destinations such as Las Vegas, Orlando or Honolulu. If the trip
is 100 percent business, there’s little question as to whether or not the
cost of the trip is deductible.
However, when it comes to a mix of work and play, it becomes harder to
determine what is and is not deductible. It is very important to keep
accurate records to substantiate what are business expenses and what are
personal expenses during your trip.
If your trip was primarily for business purposes and you only spent some
personal time while away, you should be able to fully deduct
transportation expenses.
Hotel costs are only deductible for the business days; the same is true
for meal expenses, with a 50 percent limitation.
Hotel and meal costs are not deductible on personal days. However, if your
convention or meeting takes place on Thursday, Friday and Monday, the
weekend days are deductible, even if you spend the time enjoying personal
activities.
There are additional caveats when it comes to annual shareholder meetings,
traveling on a cruise or to a resort, as well as traveling abroad. Consult
with your tax professional to learn more.
