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Business Trip Write Off
I purchased a ticket in December for a flight in mid-Jan strictly to visit one of my properties and attend a seminar. Would this be a tax write-off for my 2019 tax return? Also wondering if the expenses incurred during the trip (rental, hotel, etc.) can be a write-off toward this return as well or my 2020 return since the incidentals will actually occur in 2020.
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Natalie Kolodij
Tax & Financial Services
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You're cash basis-
So the expenses incurred in 2019 related to the trip would be deducted there, and expenses in 2020 on that return.
I'd reach out to a tax pro to enusre you're fully deductible. Make sure that the majority of your day activities are business.
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