What are the tax deductions available for travel expenses?
You can deduct travel expenses if they are directly related to your business. This includes airfare, lodging, and meals.
Are there specific rules for deducting meals while traveling?
Yes, you can generally deduct 50% of your meal expenses while traveling for business, but keep your receipts!
What if I mix personal and business travel?
If your trip includes both personal and business activities, you can only deduct the expenses related to the business portion.
How do I keep track of these expenses?
It's best to keep a detailed log of your expenses, including receipts and notes on the purpose of each expense.
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