Know your business deductions, or else

Durkin, Karen
August 2008
Las Vegas Business Press (10712186);8/4/2008, Vol. 25 Issue 31, pP23
The author provides insights on the tax deductability of business expenses and trips in the U.S. She negates the idea that a vacation treated by a business owner as for business purposes is deductable as a business spending. The issue is discussed in the Section 162 of the Internal Revenue Code. She stresses that the Internal Revenue Service (IRS) held that a business trip should be primarily for business and one meeting in a week-long vacation is not considered as a business trip.


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