How do I write off trips I took?
2007-02-27 05:01:32 · 2 answers · asked by toobrown 1 in Business & Finance ➔ Taxes ➔ United States
Did you work for someone or was it your own business on the side? If it was your own business, you will fill out the Schedule C and SE for self-employment. If you were an employee you will receive a W-2.
2007-02-27 05:11:24 · answer #1 · answered by R Worth 4 · 1⤊ 0⤋
Assuming you are an individual and not a corporation, file Schedule C and Schedule SE in addition to your other standard forms; 1040, Schedule A, B, etc.
The trips (Travel Expense) you took must be business related. If any of the trips were of a personal nature, they are non-deductible. Be careful as to the extent of what you write off as a deduction. My rule is this; if the trips which are business related exceed 15% of your income, you're looking for an audit. If you report more than my estimated ceiling, be sure you have documentation (a set of books or a diary, etc) to support the deduction. You will need it in case of an audit.
2007-02-27 13:16:52 · answer #2 · answered by bold4bs 4 · 0⤊ 0⤋