Any accountants here?

[MKCP5]

I am heading to WDW on Monday and will be there for 5 nights. I have a small catering business and I will be attending the food and wine expo and going to a couple of classes etc. I know I can write off the classes and tastings, but what other parts of the trip would I be able to write off as business expenses? Hotel? Part of the hotel? Airfare? Haven't been able to get hold of my accountant as I waited a bit long and he is out of town this week. I will save all my receipts to double check Thanks in advance!

 

[twoolle]

I am heading to WDW on Monday and will be there for 5 nights. I have a small catering business and I will be attending the food and wine expo and going to a couple of classes etc. I know I can write off the classes and tastings, but what other parts of the trip would I be able to write off as business expenses? Hotel? Part of the hotel? Airfare? Haven't been able to get hold of my accountant as I waited a bit long and he is out of town this week. I will save all my receipts to double check Thanks in advance!

I think the most conservative would be whatever portion of your trip is work related you can write off the corresponding portion of flight and hotel. So if 2 out of 4 days are spent in classes then 50%.

Similar to a cell phone bill...whatever portion is work related then that's the portion you are allowed to write off, although I'm sure many write off more (including me sometimes ).

Although I do think the IRS has a specific publication on travel expenses.

 

[01spirit750]

I am not an accountant but I did meet one once.

Save your receipts, document you activities (hours) each day. Talk to your tax guy when getting your taxes done.

I have no idea on what to deduct and not get audited.

If had a guess-
Deductions for business trip expenses only applies to employees of the company (which you are as the owner). You cannot deduct anything for family or friends unless they are employees and have a specific business purpose for the trip.

I thought that the air fare was tax deductible at 100% because you had to get there and home no matter how long you stay. Any day where you spend more than 50% of your time dealing with business related activities you can deduct your room and food. Days where you spend less than 50% on business activities is not deductible. You must have detailed documentation for your activities each day to show how your time was spent.

Only your accountant can tell you for sure so do not rely on anything I have said.