The world can be your workplace. Entrepreneurs figured it out decades ago, and the rest of us are just catching up. 

For us, travel isn't just an adventure — it's a never-ending opportunity to invest in our business while enjoying new experiences. How? Well, the better question is “why?” 

When business is our reason for travel, we can leverage the tax deductions that transform destinations into smart investments and relationships. Not only that, we can have a heck of a good time while we do it, too. 

In this guide, we'll explore the art of maximizing travel tax benefits for entrepreneurs and small businesses on the move.

How Can You Get Tax Benefits from Business Travel?

Tax deductions are your secret weapon in turning your travel expenses into business assets. It’s all about planning: 

• Make business your reason for travel
• Understand which expenses are deductible
• Understand proper documentation
• Consult a tax professional to make sure

By doing so, you can significantly reduce your taxable income and have an excellent business trip or two in the process.

Justifiable Reasons for Business Travel

As an entrepreneur, you may already know the most common reasons for business travel:

• Presentations and meetings
• Client visits
• Sales trips
• Conferences and trade shows
• Research and site visits
• Etc etc etc etc

Those reasons are great for Elon and Gary Vee; they’re already connected and famous. But what about the rest of us? If we wanted to go to New York City for business, how the heck would we do it? Nobody from NYC cares about me in any business sense. So…

What About Entrepreneurs and Small Businesses?

Yeah, what about us?? We work from our MacBooks jacked up on java. We’re designers, developers, marketers, writers, consultants, inventors, eCommerce gurus, side hustlers, and more. 

We don’t have a business reason to go to San Diego, but we want to go to San Diego. And we don’t want to burn $3,499 for the latest fad conference just to have a business justification. 

But what if we could pre-arrange business meetings with other people like us in San Diego? And then write off all applicable (and legal) expenses? We’d be all in. That’s one reason we built Tripally – to expand your business scope of influence by hosting meetings with business travelers and traveling to other cities for real, in-person networking and services. 

Join the waitlist here and give it a try when we go live! We’re all in this together. But let’s keep going. 

Entrepreneur Travel Essentials: What's Deductible?

Assuming your travel is for business purposes, you can deduct quite a few expenses from your taxable income: 

• Transportation: Whether you're flying, driving, or taking a train to your business destination, your transportation costs are deductible. This includes airfare, mileage, rental cars, and public transportation fares.
• Accommodations: Hotel costs, Airbnb rentals, and even the Wi-Fi charges can be considered deductible expenses, provided your travel is for business purposes.
• Meals and Entertainment: While you can't write off extravagant dinners, a reasonable percentage of your meals during business travel can be deducted. Just be sure to save those receipts and make a note of the business purpose of the meal.
• Business Supplies: Need to buy office supplies, equipment, or other essentials during your trip? Keep those receipts – they're deductible!
• Networking Events: Fees for conferences, seminars, workshops, and networking events can be written off. These events provide both educational and networking benefits, making them valuable investments in your business growth.

Write-offs are not limited to this list, and always be sure to double check with a tax professional.

Documenting Your Deductions: Best Practices

It all comes down to intent, proof, and integrity. We’re classy people, so let’s keep it classy:

• Maintain Accurate Records: Keep every receipt and document related to your business travel expenses. This includes boarding passes, hotel bills, meal receipts, and conference registration confirmations. At the time of this writing, you only need to keep receipts for expenses over a certain amount. But let’s be adults here, just keep your receipts and have them handy if the tax man comes knocking. 
• Separate Personal and Business Expenses: If you're combining personal and business travel, ensure you only claim deductions for expenses directly related to your business activities.
• Digital Tools: The smartest  way to track your expenses, meetings, and trip notes is to do it in real time. There are lots of tools and apps out there for this, and Tripally’s Trip Diary is here for you, too. 

The Tripally Advantage

Tracking business expenses while on your business trip ain’t the problem; having a real, justifiable reason for business travel (and the tax benefits therein) is what we’re all missing. 

That’s where Tripally comes into play. We figure there are three types of people who need us: 

• Power Networkers: find professionals just like you all over the United States who want to meet in person for networking, consultation, and even selling services. These are the real connections that matter – in person. 
• The Consulting Class: open slots in your schedule to talk business and, if you’re really good, sell your services to them by the hour (coming soon). Expand your networking footprint with real connections.
• Businesses: host micro-events and seminars to multiply your influence on your market. (Paid events coming soon!)

This could be you. You can be a part of this network of people who ditched digital networking and opted for real relationships instead.

Join the waitlist here. 

Networking: Beyond the Balance Sheets

Your next huge opportunity could be just behind that next handshake, which means networking is priceless. While digital connections have their place, nothing quite compares to the power of a face-to-face interaction. 

Start getting more handshakes in more places.

Join the waitlist here.