We've all seen the continuing education brochures for our jobs... Caribbean cruises, Mexico resorts, Arizona spas, Disney, Myrtle Beach. The boss is definitely NOT paying for this one. So is there some way to get a tax deduction? YES, with planning and proper documentation.
The general rules:
1) The same identical seminar can not be available in the states... if it is, your deduction is limited to the price of the stateside seminar.
2) The trip must be primarily for business which is a greater than 50% test. This test can be passed based upon a) # of days with substantial business, b) # of business hours or c) the overall importance of the business portion of the trip.
3) Other family members traveling with you will not detrimentally affect the 50% test. The test only pertains to you.
4) Other family members' expenses are generally not deductible unless they are seminar participants.
5) This deduction requires the advance help of a tax pro to guide you through documentation and strategy requirements to maximize the deduction.
SHARE WITH A FRIEND.
If you need tax help... www.baboiancpa.com