Go Back   Travel Forum - Share Travel Guides, Travel Maps, Travel Photos, Travel Deals > Travel Advice > Business Travel

Reply
 
LinkBack Thread Tools Display Modes
  #1 (permalink)  
Old 04-04-2008, 05:45 PM
Chris F
 
Posts: n/a
Default I own a second home in a location where I travel for business. What travel expenses can I deduct?

When I travel to the second home location, I stay in the property rather than renting a hotel. Can I deduct some costs associated with this property? For example, depreciation of the purchase price? What about office furniture? What about other furniture? Management fees, utilities, etc?
Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
Sponsored Links

  #2 (permalink)  
Old 04-04-2008, 06:21 PM
Ryan M
 
Posts: n/a
Default

Seriously, consult with a tax CPA for this NOT a message board! I am a CPA, but not a tax one, and this is a VERY complicated issue because you have several different types of expenses associated with the home.
Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #3 (permalink)  
Old 04-04-2008, 07:25 PM
Jules
 
Posts: n/a
Default

For business travel, many lodging expenses are tax deductible. This could be a HUGE deduction, so collect your paperwork and call up an accountant. Tell him you want a FREE 5 minute consultation, first of all. Say you want to know if your house can be tax deductible. If he says yes, then book a date right away. You'll probably have to invest alot into getting a good accountant before taxes are due, so make sure the deduction will be big.

See the Irs website: http://www.irs.gov/taxtopics/tc511.html
Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #4 (permalink)  
Old 04-04-2008, 07:25 PM
v b
 
Posts: n/a
Default

From the IRS's point of view, none. For lodging expenses on business trips, you need actual receipts. You can't issue yourself a bill, so this is a lose, lose situation.
Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
Reply


Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On



Cheap Flights
All times are GMT. The time now is 11:37 PM.



Design By: Miner Skinz.com
Powered by vBulletin® Version 3.6.8
Copyright ©2000 - 2009, Jelsoft Enterprises Ltd.
Search Engine Friendly URLs by vBSEO 3.1.0 ©2007, Crawlability, Inc.

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153