Are flights to tradeshows for my company a write off?
July 9, 2009 by Trade Shows and Exhibit Display Tips
Filed under More Trade Show Answers
Can you answer Bri up’s question about Trade Shows?:
I will be attending my first trade show in Las Vegas soon but I need to know if I should save anything in particular that can be refunded back into my company at the end of the year.
who knows this answer
Used Trade Show Booths
I will be attending my first trade show in Las Vegas soon but I need to know if I should save anything in particular that can be refunded back into my company at the end of the year.
who knows this answer
Used Trade Show Booths
Trade Shows Feedback: Expense it as soon as you pay it.
Trade Shows Feedback: Yes, as long as the travel is related to business and is intended to help promote your business or if you have expectations of earning income from it.
However, note that only 50% of food and beverage (”meal”) and entertainment expenses are allowed as a deduction. This is something you need to consider when claiming attendance to tradeshows in your taxes.
I suggest you read IRS Publication 463 – Travel, Entertainment, Gift, and Car Expenses which contains all the information you need about tax writeoffs for travel and tradeshow participations. Per this IRS publication
“You can deduct all of your travel expenses if your trip is entirely business related.”
Trade Shows Feedback: Just about anything that you incure as an expense for your your job can be a tax write off, even if you drive and rent a car and pay for your own gas. The best thing to do is to make all this information, with receipts, available to your tax preparer.