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How to deduct your vacation expenses on your tax return?

  1. You must have income from a business.

  2. The trip must be for "business purposes" For example, going to a seminar related to your business, meeting with clients / vendors, visiting your investment properties, or going to an annual meeting with your partners

  3. Pay all of your travel expenses with business card and not with a personal card

  4. Save all of your receipts to evidence the cost of the flight, hotels, cars, and meals

  5. Document the main purpose of the trip. Be as specific as possible

  6. Confirm with your CPA to comply with the specific tax rules

  7. Include your expenses on your tax return as business travel expenses.

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