Tax Tips for Summertime Traveling

It’s summertime, and for many that means travel time! Know that there are some things you might consider with your summer travel plans to improve your tax situation this year. Here are a few tips.

Self-employed? Extend a business trip into a vacation. You can generally deduct your business-related travel expenses, including transportation to and from your business destination, as long as your trip is primarily for business. (Additional rules and limits may apply).

Deduct a volunteer vacation. If you travel to provide services for a qualified charitable organization, you may be able to deduct your travel expenses if you itemize deductions, your duties are real and substantial, and the trip does not include a significant element of vacation, recreation, or pleasure.

Traveling throughout Vermont this summer? Click here for a list of “can’t miss” places to visit and activities to enjoy in Vermont this summer.

Planning on renting a vacation property? Click here for “5 Ways to Save” from Kiplinger’s,

If you would like to schedule a strategy session and discuss your specific situation call Davis & Hodgdon at 802.878.1963 (Williston) or 802.775.7132 (Rutland).