Tax Deductions Associated with Events and Retreats
Oct 04, 2023In this episode, we unravel the intricacies of retreat and event expenses when it comes to tax deductions. With the rising popularity of retreats and business conventions, it's crucial to grasp which expenses can be deducted for both hosts and attendees.
Discover the key factors that determine deductible expenses, including what qualifies as "ordinary and necessary." We cover various deductibles, such as transportation and lodging costs, and tackle the gray area of events that mix business with leisure.
Our insights will help you stay in line with IRS guidelines, optimizing your savings and preserving your hard-earned income.
What you’ll hear in this episode:
[1:10] Can You Deduct Retreat and Event Expenses as a Host or Attendee?
[2:38] Host Deductions: Venue and Related Expenses
[3:25] Host Deductions: Planning Services
[3:45] Host Deductions: Marketing Costs
[4:26] Host Deductions: Meals, Travel, and Lodging
[6:12] Host Deductions: Speakers, Coaches, or Facilitators
[7:40] Attendee Deductions: Registration Fees, Travel, and Lodging
[8:20] Attendee Deductions: Meals and Beverages
[8:50] Attendee Deductions: Combining Vacation with a Work Event
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The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.
