How To Make Cruise Ship Travel A Business Expense

cruise ship travel

Many small business owners go on cruise ship travel and miss the opportunity to make it a business expense. Being able to deduct expenses for your small business can be tricky.

Cruise Ship Travel & Vacation Days Must Be Planned

Cruise Ship TravelHere are the things you need to know about if you want to be able to use your vacation destination as a tax write off:

  1. Plan your vacation days. You’ll need to schedule days that are work, travel and free days. Schedule them according to IRS rules. If you’re not sure, please contact us first.
  2. There are requirements for time that you spend on business purposes.
  3. Expensing meals fit into 2 categories. Actual and per diem.
    If you use actual, you have to be able to justify those actual expenses as business related only. But, if you opt to use per diem, the IRS has set limits depending on where you are geographically. Know your limits before incurring entertainment and meal costs. Which method gives the best tax deduction can vary greatly. I am often asked about using cruising as a tax deduction for travel. There are only special circumstances in which you can use a cruise ship as a travel deduction. One of the differences between cruising and flying is that there is a limit on cruising, but not on air travel amounts. We look at all the options very closely to give you the best option.

Before you decide to use a cruise ship travel as an option, consult with us first to ensure you are able to use the full deduction. Some additional restrictions apply for making a cruise ship travel an expense as well as purchased food, drinks, entertainment and conventions on a cruise ship.

Ask Us If Cruise Ship Travel Is Right For You.

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What We Do For Small Business Owners

We can tailor our accounting and tax solutions for small businesses in Marietta, Woodstock, Canton, Alpharetta and Roswell.  We can help you keep all your bookkeeping up to date with our monthly accounting services. In our monthly accounting services, we include:

  • reconciliations
  • financial statements
  • maintenance of fixed asset depreciation schedule
  • loan amortization schedule, business personal property tax returns
  • business state income tax returns
  • sales tax return
  • quarterly estimated tax calculations.

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