Accountants Who Come To Us For Guidance
David M. Kaufmann, CPA
2831 Wyecliff Way
Highlands Ranch, CO 80126
PO Box 632285
Highlands Ranch, CO 80163-2285
A taxpayer may be able to deduct travel, meals and
lodging while away from home on business.
tax deductions for travel and lodging away from home, meals are limited to 50%.
This can include personal meals where business is not discussed.
Other items may also be deducted, depending on the
Sometimes the real issue is where is
the tax home? It is not necessarily where the spouse and family reside. For
example, if a
pilot is stationed out of Dallas, and the family lives in Denver, the pilot's
travel to and from Denver and Dallas is commuting, not business travel.
If the business traveler is on a temporary assignment,
travel, meals and lodging are most likely deductible. If the job assignment is
indefinite, travel, meals and lodging are most likely not deductible.
Temporary vs. indefinite job's tax definitions are not black
and white. This is often the critical point on whether someone will get
deductions for travel, meals and lodging away from home.
If an employee has expenses for business travel, meals and
lodging away from home itemized deduction limitations may come into play.
If you have questions about this, do not hesitate to contact us