J.K. Lasser's Small Business Taxes 2018

CHAPTER 8 Travel and Entertainment Expenses

1. Local Transportation Costs
2. Travel within the United States
3. Foreign Travel
4. Conventions
5. Living Away from Home on Temporary Assignments
6. Meal and Entertainment Expenses
7. Business Gifts
8. Reimbursement Arrangements
9. Recordkeeping Requirements
10. Employees

Alert

At the time this book was completed, Congress was considering important tax changes that could affect 2017 tax returns and planning for 2018. Check the online Supplement in February 2018 at www.jklasser.com or www.barbaraweltman.com to see what changes have been enacted and when they are effective.

Technology has enabled small business owners to market their goods and services in a manner similar to that of larger companies. For example, local radio advertising may expand the market for a small business beyond the general area in which its office is located. To service these expanding markets, you may have to travel to see clients, customers, vendors, suppliers, and others who are part of your business operations. If you travel on business or entertain clients, customers, or employees, you may be able to deduct a number of expenses, provided you follow special substantiation rules.

For further information about travel and entertainment costs, see IRS Publication 463, Travel, Entertainment, Gift, and Car Expenses. Business use of your car for travel and entertainment purposes is discussed in Chapter 9.

Local Transportation Costs

Do you travel from your office to see clients ...