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Updated almost 8 years ago on . Most recent reply
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Anyone combine business trips with personal trips?
Hello group,
As I grow my business and become more in love with Rentals, I thought about looking at other markets in areas that I also like to visit. I assume I can count these trips as business trips if I have the proper documentation showing what I've done at that location, and only the portion of the trip (transportation and lodging being the biggest) can be counted towards the business expense.
Not asking for tax advice per se, just curious if others do this or any personal experience.
thanks in advance
Most Popular Reply
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@Andy Basler As always, I say consult with your CPA as individual circumstances vary. With that said, in general, any activity that is ordinary and necessary in the operation of your rental business would be deductible, and documentation is key here. In order to maximize your potential deductions, aim to have at least half of each weekday be devoted to business activity. If you are able to prove this, then the entire trip is considered a business trip, and the entire portion of your transportation and lodging becomes deductible.