What are the differences between personal and business travel deductions?
Business travel deductions are expenses incurred while traveling for work, while personal travel expenses are not deductible.
Can you give me examples of what qualifies as a business travel deduction?
Sure! Examples include airfare, hotel stays, meals, and transportation costs directly related to business activities.
Are there any limits on how much I can deduct for business travel?
Yes, there are limits based on IRS guidelines. For instance, meal deductions are typically limited to 50% of the cost.
What if I mix personal and business travel?
If you mix personal and business travel, you can only deduct the expenses directly related to the business portion of your trip.
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