Navigating Business Travel Expenses: Key Tax Deductions

Tax deductions help offset travel expenses for business travellers. Learn about some key deductions for business trips before you hit the road.

What to know about tax deductions for business travel

If you are traveling for business purposes away from your main workplace or home, you may be eligible for business travel deductions. However, your travel expenses must be reasonable and essential for business purposes, and not extravagant, or for personal purposes. If you are on a short-term work assignment of less than a year, your employer can deduct your travel expenses. When it comes to conventions held outside North America, there are specific regulations for their deductibility.

If someone has to spend the night away from their home to fulfill their work obligations because they are away for more than a regular workday, it is considered traveling away from home for tax purposes.

Deductible expenses include:

  • Travel by plane, train, bus or car between home and a business destination
  • Fares for taxis or other types of transportation between an airport or train station and a hotel, or from a hotel to a work location
  • Shipping of baggage and sample or display material between regular and temporary work locations
  • Using a personally owned car for business
  • Lodging and meals
  • Dry cleaning and laundry
  • Business calls and communication
  • Tips paid for services related to any of these expenses
  • Other similar ordinary and necessary expenses related to the business travel

Make sure you keep records such as receipts that support your deductions. We are dedicated to ensuring you receive the maximum tax deductions while fully adhering to all regulations and rules.

If you have any questions, please don’t hesitate to contact us.

Related Posts

How To Adapt Small Business Strategy During a Cost of Living Crisis
How To Adapt Small Business Strategy During a Cost of Living Crisis

So, we’re officially in the thick of a cost of living crisis. This presents a challenge for entrepreneurs and is a nerve-wracking time for many small business owners. If you’ve had sleepless nights worrying about how you’re going to pay your suppliers or support your...

What to Do in a Data Breach
What to Do in a Data Breach

You might have a mental image of data breaches happening only at big institutions like banks, password managers, or even government agencies. But the truth is, any website that stores personal information can be vulnerable to a breach. Now, not all breaches are...

The Benefits of Outsourcing for Small Businesses
The Benefits of Outsourcing for Small Businesses

For small businesses in today’s competitive market, outsourcing can offer a range of advantages. Not only does it reduce costs and free up valuable time for owners to focus on growing their business, but it also provides access to skills and expertise that may be...


Stay Connected

Sign up with your email address to receive news and updates
* indicates required