One of the best things about being in business for yourself is that you get to write off a lot of expenses. This includes travel; not everything, but a lot of things. We will cover some of the things you get to write off and when.
Air Travel – if you have to fly anywhere you get to write off the cost of your flight and your bags if you have to pay for that. You even get to write it off if you get to the airport and upgrade to first class because the airline is offering a deal.
Car Rental – if you have to rent a car it’s covered, but you don’t get to write off any mileage if you go that route.
Mileage – if you don’t rent a car and drive instead, you get to write off all mileage associated with your trip. Here’s the other side. While you’re out of town, you get to write off all mileage, which includes weekends. Say you’re an hour away from a beach and you’re using your own car because it’s too far to drive home every weekend. It all counts as part of mileage.
Hotel – your hotel costs are covered for write offs. Any clothing you wear for business is covered if you need to have it cleaned and pressed. However, your personal clothing isn’t covered specifically, although you might be able to get a package that includes everything but that’s rare. Meals that you eat in the hotel are covered, but not personal convenience items or snack items you might buy in the hotel store.
Meals/Food – all of your meals are covered whether you eat in the hotel or not. If you stop for ice cream or a milkshake, that’s not considered a meal so that doesn’t count. If you’re staying in an extended stay hotel and you decide to buy food at the grocery store, you can write that off.
Clothing – if you need to buy new clothes to go to your client’s office those items are covered. But if you buy something like t-shirts, shorts or sunglasses, those items won’t be covered.