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May 22, 2024
Question

Tallie LLC questions 1-31, #26

  • May 22, 2024
  • 1 reply
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26. Are there any differences in tax treatment for international travel expenses compared to domestic travel expenses?

1 reply

Mark_5
May 23, 2024

Foreign Travel Expenses   are fully deductible if you spend 100% of your time abroad for business.  But if you participate in nonbusiness activity (sightseeing, wine tasting, going to clubs and events you may make an allocation.      How the deductions are specifically handled is determined how you report your income and expenses.  If you are a W-2 employee, you will need to submit your expenses for reimbursement.  If you are a long-term employee on a cruise ship and the ship is your home, then you do not necessarily meet the away from home rule.