How can you take a trip and also deduct the expenses? There are a couple of ways. First, you can do volunteer work. Second, if you own your own business, you have a lot of options. These may include seminars that are conveniently located in prime vacation areas. You must be careful when taking vacation deductions because not every expense will be deductible. For example, if you stay in that location a few extra days to go sightseeing, then the expenses for those extra days spent are, in general, not deductible.
There are many non-profit organizations that offer you the opportunity to do volunteer work for a charitable cause. These programs typically require some expenses in which you may be able to take a tax deduction. In these situations, you may have out-of-pocket expenses such as airfare, lodging, and food. Some of these organizations include Habitat for Humanity, Volunteer International, Cross-cultural Solutions, and United Planet. As a general rule, your volunteering efforts should be equivalent to working a full-time job throughout the duration of the trip. If you stay at the location in which you did your volunteer work after the work portion was finished, that part of the excursion will not be deductible.
Many businesses require continuing education. Because of this, there are many classes and seminars being offered in many nice locations. With some careful planning, you can save tax money while fulfilling your requirements to remain certified/licensed.
The IRS does like to audit these deductions so be sure that they are reasonable. For example, traveling to a business seminar located in Florida will not be sufficient for deducting the cost of family tickets to Disney World. In addition, you may deduct your airfare but you shouldn't deduct the travel expenses for the children or your spouse unless they are employees (meaning key employees) of your company. If you feel that the item you're thinking of deducting is questionable, then you should generally pass on it or consult a trustworthy tax adviser. Don't be discouraged by this because if your vacation is planned properly, you will still be able to deduct a large portion of the expenses.
Also be careful if your vacation involves something like a two-day seminar and two weeks of play. In this case, you cannot deduct the entire trip. The primary purpose of the trip must be the seminar (business purpose) and you can only deduct your airfare (not the rest of the family's) and lodging for the days in which the seminar took place. If you deduct all the expenses, the IRS will likely disallow those items not directly related to business. You should also document exactly why the trip was taken. Another general rule regarding business trips is to make sure that the expenses of your trip are normal within your industry.
As always, you should seek professional advice during the planning phase of your trip.
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