Thank you for this! I wish I would have known years ago. I've been a published author and never took travel expenses for my research trips. Ugh! I can do this even if I'm considered a self-employed author!?
Yes absolutely, just make sure to follow the rules and seek advice from your accountant to double check what can and can't be wrtitten off for your particular circumstance.
Fringe question for you, in regard to entertainment not being deductible: what if your business is entertainment? As an example: if I were a youtuber, using my channel for income (I'm currently not, btw) and my channel's focus was playing laser tag at different facilities around the country/world. Would travel/laser tag equipment/laser tag games be deductible, as it is directly related to the business of the youtube channel? Another example: if I were a youtuber, using my channel for income and my channel's focus was reviewing hotels and theme parks around the country/world. Would hotel stays, theme park passes, food at theme parks/hotels be deductible? If I were to drive around the country to do either of these things, would the mileage be deductible?
Same reason that entertainment is now not deductible at all. People took advantage of it so they changed it. The 50% deductibility for meals has been in place since 1994, so its nothing new.
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What trip are you taking next that you can write-off? Let me know in the comments below.
This is terrific! I'm already thinking about my trip to Colorado in the fall...how can I maximize the write-offs for travel expenses. Thank you!!
@@kristimeenan50 I love this! I always think about this ahead of time to make sure I'm getting the best tax deductions I can (the RIGHT way!)
Thank you for this! I wish I would have known years ago. I've been a published author and never took travel expenses for my research trips. Ugh! I can do this even if I'm considered a self-employed author!?
Yes absolutely, just make sure to follow the rules and seek advice from your accountant to double check what can and can't be wrtitten off for your particular circumstance.
I’ve been following you for years and have gotten some of your trainings. Just had to say I love your hair! Great video. Thank you!!!!!
Thank you, that is so sweet! Glad to have you here!
Fringe question for you, in regard to entertainment not being deductible: what if your business is entertainment? As an example: if I were a youtuber, using my channel for income (I'm currently not, btw) and my channel's focus was playing laser tag at different facilities around the country/world. Would travel/laser tag equipment/laser tag games be deductible, as it is directly related to the business of the youtube channel?
Another example: if I were a youtuber, using my channel for income and my channel's focus was reviewing hotels and theme parks around the country/world. Would hotel stays, theme park passes, food at theme parks/hotels be deductible?
If I were to drive around the country to do either of these things, would the mileage be deductible?
Great question, please submit it for my next TH-cam live class so I can answer it for you: www.JamieTrull.com/TH-cam
Why is my meals only 50% deductible? I wouldn’t be eating out if i wasn’t traveling
Same reason that entertainment is now not deductible at all. People took advantage of it so they changed it. The 50% deductibility for meals has been in place since 1994, so its nothing new.