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Business travelers should check out these deductions before hitting the road
Many people travel for their job – some for an occasional conference and some travel year-round. Whatever their time on the road, business travelers should know how and when to deduct business travel expenses.
What to know about tax deductions for business travel
Travel expenses must be ordinary and necessary. They can’t be lavish, extravagant or for personal purposes. Employers can deduct travel expenses paid or incurred during a temporary work assignment if the assignment is less than one year.
Travel expenses for conventions are deductible if attending them benefits the business. There are special rules for conventions held outside of North America.
Deductible travel expenses include:
Taxpayers can find more about the rules for travel deductions with Publication 463, Travel, Gift, and Car Expenses.
Self-employed individuals or farmers with travel deductions
Travel deductions for Armed Forces reservists
Recordkeeping is important
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