Tax No Tuesday Episode 38: What Holiday Travel Deductions you can deduct
Welcome to Tax No Tuesday! More than 30% or 112.5 million of American populations are expected to travel for Christmas season. For you to remember the list of deductions, we will use the acronym TRAVELS. T – ips you give to waiter, driver or commonly known as incidental expenses R – ent for accommodation like hotel or Airbnb A – irfare plane tickets V – ehicle expenses whether you own or lease the car E – ating out as long as they are non-entertainment related meals L – audry even dry cleaning and S – hipping of baggage, like your products or samples you needed Just a reminder, to qualify with those deductions they should be necessary and ordinary expenses on your trade or business. For every IRS regulation there are limitations. Thank you for watching. Tune in every Tuesday for more tips! Please like our Facebook page: www.facebook.com/wycotax
