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IRS Tax Tips July 11, 2022
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Issue Number:?Tax Tip 2022-104
*Here?s what taxpayers need to know about business related travel deductions*
Business travel can be costly. Hotel bills, airfare or train tickets, cab fare, public transportation ? it can all add up fast. The good news is business travelers may be able off-set some of those cost by claiming business travel deductions when they file their taxes.
*Here are some details about these valuable deductions that all business travels should know*.
Business travel deductions are available when employees must travel away from their tax home [ [link removed] ] or main place of work [ [link removed] ] for business reasons. The travel period must be substantially longer than an ordinary day's work and a need for sleep or rest to meet the demands the work while away.
Travel expenses [ [link removed] ] must be ordinary and necessary. They can?t be lavish, extravagant or for personal purposes.
Employers can deduct travel expenses paid or incurred during a temporary work assignment [ [link removed] ] if the assignment length does not exceed one year.
Travel expenses for conventions [ [link removed] ] are deductible if attendance benefits the business and there are special rules for conventions held outside North America [ [link removed] ].
Deductible travel expenses while away from home include the costs of:
? Travel by airplane, train, bus or car between your home and your business destination.
? Fares for taxis or other types of transportation between an airport or train station to a hotel, 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 which can include an increase in mileage rates [ [link removed] ].
? Lodging and non-entertainment-related meals [ [link removed] ].
? 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.
*Self-employed or farmers with travel deductions*
? Those who are self-employed can deduct travel expenses on Schedule C ,Form 1040, Profit or Loss From Business, Sole Proprietorship [ [link removed] ].
? Farmers can use Schedule F, Form 1040, Profit or Loss From Farming [ [link removed] ].
*Travel deductions for the National Guard or military reserves*
National Guard or military reserve servicemembers can claim a deduction for unreimbursed travel expenses paid during the performance of their duty [ [link removed] ].
*Recordkeeping*
Well-organized records [ [link removed] ] make it easier to prepare a tax return. Keep records, such as receipts, canceled checks, and other documents that support a deduction.
*More information*:
Publication 463, Travel, Gift, and Car Expenses [ [link removed] ]
IRS updates per diem guidance for business travelers and their employers [ [link removed] ]
Share this tip on social media -- #IRSTaxTip: Here?s what taxpayers need to know about business related travel deductions [link removed]
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