As the owner and only employee of my company, can I write off a caribbean vacation as a tax deductible perk?
September 9, 2009 by Caribbean Vacation and Island Tips
Filed under Caribbean Answers
Can you answer arahant’s question about Caribbean?:
I know big companies send their top performers to caribbean vacations and I bet those are expensed before taxes. Can’t I do the same?
Caribbean Scuba Diving Vacation
I know big companies send their top performers to caribbean vacations and I bet those are expensed before taxes. Can’t I do the same?
Caribbean Scuba Diving Vacation
Caribbean Feedback: As an accountant or a lawyer
Caribbean Feedback: yes. just figure out how to make it a business trip for finding “investors” depending what you do
Caribbean Feedback: only if you can prove that it was business related. Did you take a potential client perhaps ? Or maybe if you can’t deduct the whole thing, maybe a part of it ? i.e airfare to meet client or business gifts purchased on the cruise….
(promo / advertising)
Caribbean Feedback: If you can afford to do this, you can afford a qualified accountant to help you find all the loopholes in your tax return.
Caribbean Feedback: some of it may be tax deductible. i do taxes and i know that there are special rule on a crusies and the key word here is vacation. no vacation is tax deductible but that depends on what was for business. get you records together and go see your tax preparer for the specifics on your unique situation.