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Company business can include conferences exhibitions business meetings client and customer meetings job fairs training sessions and sales calls for example.
Travel expenses. Amazon has saved nearly 1 billion in travel expenses this year because of the coronavirus pandemic cfo brian olsavsky said on the companys third quarter earnings call. You cant deduct expenses that are lavish or extravagant or that are for personal purposes. Documenting travel expenses. The most important part of the process of deducting travel expenses is to save all of your receipts.
Youre traveling away from home if your duties require you to be away from the general area of your tax home for a period substantially longer than an ordinary days work and you. Travel expenses are costs associated with traveling for the purpose of conducting business related activities. Those expenses that are lavish or extravagant in nature or are for personal purposes. You dont have to save paper copies but you should be able to pull out a separate receipt not just a line item on a credit card to show 1 date 2 expense details 3 amount spent and 4 business purposes.
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