You HAVE To Run the Numbers!

IMG_8384-634Bird Shoal near Beaufort, North Carolina

I subscribe to a number of email lists.

Among other things, I enjoy reading what’s on the minds of the movers and shakers in the world of online business and travel.

Ramit Sethi is the author of the well-known but unfortunately named site, I Will Teach You To Be Rich. Despite the name, he actually offers solid advice and guidance in a number of areas.

I recently subscribed to his list.

He sends out some interesting emails with often colorful language, but one last week caught my eye, because Ramit was thinking like an accountant in the best way possible.

Now lest he discover my assertion, and not take kindly to being told that he thinks like an accountant, let me explain.

The email to which I refer had in the subject line: [Read more...]

Yes, But…Thoughts on Deducting Cruises for Business

Castaway634
Hanging out with Pluto on Castaway Cay!

You’re a travel professional (consultant, agent, writer, blogger, location independent entrepreneur) and you’re interested in a new area, destination, or type of travel. You plan a trip of your own to explore this new destination.

You self-fund this trip.

You’re not going along on a fam or a press trip organized and funded by someone else, but you’re paying for this through your own money or your business’ money.

Is this tax deductible?

Let’s say you’re a travel agent/consultant who is beginning to assist clients with Disney Cruise Line sailings. But, you’ve never been on a Disney Cruise, and you need some first hand experience. You book a trip for you and your family on one of Disney’s 3-day sailings from Port Canaveral to the Bahamas with a stop at Castaway Cay. [Read more...]

What Do Tax Deductions and Cruise Ships Have in Common?

Castaway
The Disney Dream at Castaway Cay

What do tax deductions and cruise ships have in common?

…a high degree of complication.

Cruise ships are like floating cities with thousands of people, tons and tons of food, thousands of gallons of drink, and exceedingly complicated machinery.

Tax deductions are just complicated.

Cruise-related tax deductions are more complicated than many others. Read on for the scoop…

Filing your taxes is likely the most familiar accounting task you’ll face, and it comes with a tremendous amount of stress for many travel pros.

April 15th is just days away. [Read more...]