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3 ways to cut business travel expenses

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in Small Business Tax,Small Business Tax Deduction Strategies

Travel expenses are on the chopping block at many companies.Three ways to help save money on business travel:

1. Book air travel well in advance, combine several trips into one, or send just one employee to a conference versus several, advises Frank Schnur, vice president of advisory services at American Express Business Travel.

Tip: Take advantage of services such as Yapta.com, which tracks air fare and delivers a refund if the price drops after you pay.

2. Ask for the lowest rate
when booking a hotel, then ask for one that’s even lower.

If you’re booking multiple nights, check on day-to-day rate variations. If you get a rate of $79 for the first night, $139 for the second and $89 for the third, ask for the $79 rate for all nights in exchange for streamlined daily maid service.

3. Park cars at off-site lots near airports rather than use airport parking, even if the difference in price is minimal.

“If a trip lasts several days and you have thousands of people flying every year, that’s a substantial amount of money you can save without making too much of a sacrifice,” Kevin Maguire, president of the National Business Travel Association, tells Financial Week.

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