Travel

Casually dressed business man sitting in his airplane seat looking at a laptop.

From Flights to Meals: A Guide to Business Travel Tax Deductions

As a business owner, you may travel to visit customers, attend conferences, check on vendors, and for other purposes. Understanding which travel expenses are tax deductible can significantly affect your bottom line. Properly managing travel costs can help ensure compliance and maximize your tax savings.

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Russo CPA Tax Tips: Excise Taxes and your business

How to Deduct Business Travel

Before traveling for business, it’s important to know what’s tax deductible. Through 2025, employees aren’t permitted to deduct unreimbursed business expenses, including travel expenses, but self-employed people may deduct business travel expenses on Schedule C. Businesses may deduct employees’ travel expenses if they provide advances or reimbursements to employees or pay the expenses directly.

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Traveling for Business in 2024? What’s Deductible?

If you and your employees will be traveling for business this year, there are many factors to keep in mind. Under the tax law, certain requirements for out-of-town business travel within the United States must be met before you can claim a deduction. The rules apply if the business conducted reasonably requires an overnight stay.

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Russo CPA What Tax Deductions For Business Travel Can I Take 2023

What Tax Deductions for Business Travel Can I Take?

I own a business, am I allowed to take tax deductions for business travel?

The overall answer is yes. Whether you’re a single-owner LLC or own an S-Corp business with multiple employees, you can take tax deductions for business travel. However, as is always the case in the world of tax law, things get…intricate.

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RUSSO CPA Blog: Standard vs. itemized deductions

Per Diem Rates Updated for FY 2021-22

Per diem rates have been updated for FY 2021-22 and are effective October 1, 2021. These allowances substantiate the amount of ordinary and necessary business expenses paid or incurred while traveling away from home and include lodging, meal, and incidental expenses, as well as meal and incidental expenses only.

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