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Take your spouse away on business

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in Small Business Tax,Small Business Tax Deduction Strategies

Suppose your spouse often helps out at work, but he or she isn’t on the payroll. Now you’re about to take an important business trip, and you need an assistant on call.

Strategy: Make it official by hiring your spouse. As a result, you can deduct all of your spouse’s qualified business travel expenses, just like your own.

Furthermore, even if your spouse isn’t an official employee, you may be eligible for some tax breaks when he or she accompanies you on a business trip (see below).

Here’s the whole story: Gener­­ally, you can deduct the cost of traveling away from home as long as the primary purpose of the trip is business-related. This includes costs such as airfare, local transportation (e.g., cab fares), lodging and 50% of the cost of business meals and entertainment.   

For example, if you and your spouse treat four clients and their spouses (or significant others) to a dinner after a substantial business discussion and...(register to read more)

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