How many times have YOU traveled this year? Or what about a quick get a way, rented a car or hotel room? Now How much of this can you write off on YOUR taxes? If your answer is NOT 100% then your just giving money away...Stop giving your money away...
Did you know that if you became a Certified Travel Agent (BeHappy2Travel.paycation.com)you could write all of these things off on your taxes? Let me explain how.
With tax season approaching, you want to have a home based business (such as a travel agency) to help you reduce your current taxable income by claiming taxable deductions and business expenses. Any workspace in the home that is the primary business location and only used for business can be deducted as a home office expense no matter what business you get into. And the expense is the percent of the home used for business only. Meals and entertainment are 50 percent deductible. Which can include the cost of a meal with a perspective new travel client or the cost of a rental car. Be sure to keep records of the business activities conducted as well as when, with whom, and how it directly relates.
So let's say you have a sales team meeting in Punta Cana, or a seminar in Cancun to learn about a new resort...all of the things planned for business purposes are tax deductible.
So now your asking what about start up cost for your home based business? Well guess what it is tax deductible also. And if you sign up with BeHappy2Travel.paycation.com the startup cost is really low for a home based business. Ok so back to business. Your internet use and phone is also a deduction. It might be a good idea to have a second line so that you can separate what calls are business and what is not. Remember keeping track of your receipt and cost is very important. Always consult with a tax professional to ensure your are keeping track of the appropriate receipts.
For more information on how to reap the tax benefits of a travel agent please visit BeHappy2Travel.paycation.com or send an email to BeHappy2Travel@gmail.com
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