Deducting the cost of business travel requires strict substantiation of the amount, the dates, the destination, and the business purpose of the expense or the business benefit to be gained or expected to be gained. In one recent case, a musician deducted the cost of travel to Japan ($11,000 in one year and $8,400 in the next), claiming the trips were for market research and networking. The Tax Court denied his deduction because he failed to show that this was true. There were little details about meetings or the purpose of meetings in Japan. His efforts never led to any performance in Japan. The court viewed his travel as personal in nature. #IdeaoftheDay
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