I work on the road for a living. What is the amount I can deduct for hotels and meals?

Question

I manage event marketing tours. In 2006, I managed tours for 4 different companies. I spent a total of 241 days on the road. What amount can I deduct for hotels and meals? Also, are there deductions besides laundry & cell phone that I should be thinking of?

2 companies paid using a 1099 and 2 companies paid using a W-2. I do not have receipts, but I have contracts with all companies and my tour routing schedules to prove I was away from home & paying for meals/hotels for 241 days. I was all across the country...is there a set IRS amount that I can write off no matter where I was at in the country? I have all of my cell phone receipts which was used for business about 90% of the time.

Answer 1

Are you a W2, 1099 or self employed?

If you are W2, then you can claim any un-reimbursed job-related expenses on Schedule A. Only expenses greater than 2% of your adjusted gross income could count and you can only benefit if your itemized deduction is greater than the standard deduction of your filing status. To see a list of all valid job related deduction, see the IRS instruction for Schedule A. http://www.irs.gov/instructions/i1040sa/ar01.html#d0e895

If you are 1099 or self employed, then you will file Schedule C. Most of your expense will count dollar for dollar to reduce your taxable income, and there are a lot more items to deduct. For instruction and requirements, go to http://www.irs.gov/pub/irs-pdf/i1040sc.pdf

Best wishes.

Answer 2

you get to have a 50% credit/deduct for eating keep receipts or without receipts the IRS will tell you how perday it is in each city of the country. 100% for lodging with receipts or no receipts the IRS will tell you how much is for each city in the nation too. your vehicle's mileage (with a detailed daily log book of miles each trip. or write off all or a portion of fuel ,maintenance, tires etc. your cell phone. you MUST KEEP RECORDS. your cpa will work out the legal deductions for you. this deduction is called "unreimbursed employee expenses" on the the long Tax Form

Answer 3

This will depend on the receipts you've kept. Most of these expenses will not be deductible because they are not necessary and ordinary expenses under s. 162 of the Internal Revenue Code; and personal living expenses are never deductible under the Code.
If you don't already have an accountant, you'll want to get one: itemized deductions that amount to more than the standard deduction is a great way to have the IRS audit you, so you'll want to be able to back up your position.

Answer 4

As long as you have the receipts you can write it all off on your taxes. And anyone with a cell phone in their name its an automatic write off. You just want to have receipts in case you get audited by the IRS

Answer 5

You can deduct whatever you actually paid.

hotel, parking, airfare, cabs, meals including tips, laundry, any business calls...all deductible.

Answer 6

What about your taxation and accomodation