Combining Work with Pleasure
If you have a job that gives you a lot of leeway or you are self-employed, you know what a bonus it is to be able to combine work with pleasure.
For example, it’s a lot of fun to be able to attend professional conferences and events, and take advantage of the mini vacation while being able to deduct the expense from your gross income. I think a lot of events are planned with this kind of thing in mind, because there are always plenty of conferences in popular vacation destinations such as Hawaii.
If you are combining business travel with a personal vacation, just don’t forget to keep track of what expenses are for business and what are for pleasure! You can get a Hawaii vacation package, for instance, and deduct most of it as necessary expenses, but you will need to first subtract any expenses that have nothing to do with the conference — such as the cost of Oahu hotels after the conference is over. Also, food and entertainment is only 50 percent deductible as a business expense, even though you absolutely have to eat when you are visiting for a conference!
If you do it right, there are many ways to combine a Hawaii vacation or any other vacation with business travel. Just make sure you know the rules of business expenses, and don’t do anything on your taxes that your tax accountant wouldn’t do!
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