6 Tax Secrets to Cash Flow:

6 Tax Secrets to Cash Flow:

1. Turn Your Vacation into a Tax Deduction:The IRS says you can deduct expenses for taking a business trip or business convention. There is no reason the trip shouldn’t overlap with your vacation. Convention and business travel expenses are deductible both to employees and the self-employed. The expenses can include convention fees, hotels, meals and entertainment, and travel expenses to and from the convention. If a business purpose can be established, the expenses of your spouse may also be deductible. The business conventions or seminars must specifically relate to your business or profession. This rule could be called the resort investment seminar rule. While you can deduct seminar and convention costs so long as they relate to your profession or business, the IRS doesn't allow you to deduct the expenses for attending an investment or financial planning seminar in a resort area or a cruise ship. Likewise, you can't deduct the costs of attending an annual meeting of stockholders if you're a shareholder. The IRS considers going to an annual meeting to be personal business... Learn more