Traveling light – The tax ramifications of business travel expenses

Description

Abstract: For some companies, travel still is a significant part of the way they do business. Even if business travel is merely occasional — rather than a way of life — for a business and its employees, it’s important to be aware of how travel expenses are taxed to avoid adverse outcomes. This article explains the tax ramifications of business travel expenses. A sidebar discusses the concept of a “tax home” for purposes of the business-travel deduction rules.