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March 26, 2013

Written by Bob Meyer, Editor of BarterNews

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Business Trips Mixed With Pleasure Can Be Tax-Deductible

If you’re planning a summer vacation, there are ways you may be able to use the tax code to help subsidize that summer trip to some popular tourist haven. Here are some possibilities:

Mixing vacation with business. One ticket to tax-deductible summer travel is to tack some vacation onto a business trip you’re scheduled to take. If the primary purpose of your trip is business, you can deduct the cost of getting to and from your destination.

For example, say you have a five-day professional convention in Honolulu this summer and plan on staying an extra few days to lie on the beach and enjoy the view. You can deduct 100% of your round-trip airfare to Hawaii. There is no need to prorate the costs based on the proportion of time you spent vacationing.

In contrast, food and lodging costs usually must be prorated — only those attributable to your five-day business convention would be deductible. There are, however, a couple of situations where you can deduct living expenses for your vacation days.

If you have business to conduct on a Friday and Monday, you can deduct food and lodging for the Saturday and Sunday in between, even if you spend the entire weekend sightseeing.

Family travel. Taking your family on a deductible trip won’t diminish your write-offs. The IRS allows you to deduct whatever it would have cost you to travel alone. So when figuring your deduction for lodging, you can deduct the single-occupancy rate for your room, which will usually be slightly less than the double-occupancy rate you actually pay for a family.

If you drive to your destination, you can deduct the full cost of your round-trip transportation, because you would incur the same cost traveling alone in the car. Of course, if you’re traveling by plane or train, only your fare is deductible.

Summer school. Professional seminars offer another chance for deductible travel. Continuing-education courses and seminars for doctors, lawyers, and other professionals are often held in popular tourist areas. Travel costs are deductible if the education is needed to maintain or upgrade skills in your job, and is the main purpose of your trip.

Charitable trips. Volunteer charity work can also lead to deductible travel opportunities. Traveling to an out-of-town convention of a charitable or religious organization can be deductible — but only if you’re an official delegate to the convention.

If you’re performing charitable work away from home, you may be able to deduct the travel costs. For example, scoutmasters who take Boy Scout troops on summer camping trips can deduct travel expenses as a charitable contribution.

Investment trips. If you own an out-of-town rental property, you can deduct trips to look after your investment. But be prepared to prove that the primary purpose of your trip was to manage or work on the property — not to vacation there.



BarterNews.com — World’s Largest Depository Of Barter Information

Hundreds of valuable articles, techniques, and strategies are found in the following various barter categories:

Ø  Entrepreneur’s Corner,

Ø  Travel,

Ø  Media,

Ø  Trade Exchange,

Ø  Corporate Barter,

Ø  Offset & Countertrade,

Ø  Secondary Capital,

Ø  Real Estate,

Ø  Community Barter, and

Ø  Restaurant & Entertainment

(The Barter Categories are found on the horizontal bar at the top — 3rd button from right.)


What Problem Are You Solving?

Despite the numerous products and services for sale in today’s expanding barter marketplace, members of a trade exchange like all consumers, will exchange their hard-earned trade dollars for only two reasons: either to feel good or to solve a problem.

To put it in a more personal perspective, your customers don’t buy what your company sells ... they buy what those goods or services do for them.

  • They don’t purchase clothes. They purchase a sharp appearance, style and attractiveness.
     
  • They don’t buy insurance. They buy peace of mind and a comfortable future for their family and themselves.
     
  • They don’t buy a house. They buy contentment, a long-term investment and pride of ownership.
     
  • They don’t buy a book. They buy pleasant hours of reading and the profits of knowledge.
     
  • They don’t purchase toys. They purchase happy moments for their children and grandchildren.
     
  • They don’t buy a computer. They buy the pleasures of having the most updated technology.
     
  • They don’t buy airline tickets. They buy the comfort and convenience of a fast, safe, on-time arrival at a destination feeling like a million dollars.

What does the average consumer buy? Ideas, good feelings, self respect, comfort and happiness — those are the things they want.


Is Your Trade Exchange Missing Out On Valuable New Business?

If your barter company’s listing on BarterNews.com isn’t current, you are definitely missing out on new business. The web site BarterNews.com receives heavy traffic — with over 150,000 page-views every month. Entrepreneurs and corporate executives check the thousands of articles, the weekly “Tuesday Report,” and the “Contacts Section” of our site. They use the latter to find barter companies with which to do business.

Is your barter company’s listing up-to-date?

To keep your listing current is very easy. See the links below to (A) update any changes to your company’s listing, such as new location, phone number, web site or other information, and (B) if your company has not been listed.

Here’s how to get on board:

To make changes to your listing click here.

For new listings click here.


Financial Guru Exclaims, “It’s A Low-Return World Now!”

Bill Gross, the California-based Pimco bond-fund manager, says the days of double-digit stock and bond returns are over. He contends the world has changed: “It’s a low-return world now. And the future will not resemble the past.” 

The reasons for the change, according to Gross, will be due to China and India’s rise as low-cost providers of inexpensive goods and services, near-record indebtedness of companies and individuals, and demographic changes (especially in USA and Western Europe), because it’s difficult to pump up consumption in an aging society.

The interesting thing about reading the prognostications of financial experts is they believe that most everyone will be in agreement with them.

Fortunately for the U.S. economy, 98% of the country’s 30 million enterprises are entrepreneurially driven companies whose leaders are not listening to Gross. They’re too busy working at building their operations. So although it may be a low-return world for the largest bond fund, Gross’ comments appear irrelevant for the majority of hard-working entrepreneurs. They are people, such as ourselves, who focus on cash business and use barter as a supplement whenever possible.

In the words of the late, famous entrepreneur Sam Walton (founder of Wal-Mart), who, when asked how he felt about an impending recession, smiled and replied, “We don’t plan to participate in it!”


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The Growth and Use of Secondary Capital (New Money) Creates Unprecedented Wealth In Today’s New Age Of Possibility

There are many forms of secondary capital—which can be defined as any financial instrument that measures and communicates value in a common language. Would you like to see and learn more about the many forms of secondary capital?

 We have 70 free, informative and inspiring, articles for you in our “Secondary Capital Section.”

Check it out... www.barternews.com/secondary_capital.htm.


Get New Money-Making Ideas And Valuable Contacts!

You can obtain useful, informative ideas and contacts in every available back-issue of BarterNews.


Every barter company in the world is listed on our web site, click through to our Global List of Barter Companies.


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