Tax Facts & BenefitsTraveling With a GuestFor more than fifty years, the Internal Revenue Service (IRS) has allowed a taxpayer traveling with a guest to deduct the amount of the lodging expense that would have been charged if the taxpayer were traveling alone. In other words, if you stay at a hotel that has the same rate, single or double occupancy, you may deduct the entire expense. Playing by the rules Revenue Ruling 56-168 "Under the circumstances involved, the cost of transportation and lodging exceeds the cost for single fares and accommodations but is less than twice the single rate. The amount deductible as an ordinary and necessary business expenses on account of the transportation and lodging is the amount directly related to the business purpose of the trip, that is, the cost at the single rate for similar accommodations. The amount by which the total expense is increased because of the wife's presence and the entire cost of the wife's meals, are not deductible." Commentary: The ruling provides that the additional expenses of the guest are not tax-deductible. The taxpayer has a number of opportunities to travel with a guest where no additional expenses are attributed to the guest, providing quite a benefit:
More Good NewsThere is a potential for substantial savings when a business traveler takes a spouse or guest on a business trip using luxury water transportation. The savings occurs if the business trip replaces a separate vacation. Our term for this is type of travel is "business-leisure" travel: adding a leisure component to a bona fide business trip. This concept, business-leisure travel, is a decades old tax strategy. Business travel by luxury ship offers the ultimate opportunity for savings due to the considerable amount of time in transit, and the prevailing billing surcharge for single occupancy in a cabin. Assume a business traveler from New York attends a conference in London. This business event provides the opportunity to spend a minimum six days in transit. Business-leisure travel does present great savings but you may also stumble upon some red flags! We suggest you explore this interesting tax strategy with your tax advisor. |



