2. Expenses Related to Travel
We don’t just mean pricey business conferences across the world, although those do count as well. We mean any traveling you do for business that costs money, so be sure and keep a record of your business miles. This includes going to meetings, lunches, having a conference with your lawyer, client, consultant, etc. Part of this bookkeeping trick is to keep a log of the day of the miles, how many miles were traveled, and the purpose of the meeting. You may use a mileage tracker, software, or even write down all of your business miles.
Bookkeeping Trick: Although it is tempting, you are not at this time allowed to deduct business miles when driving from your home to work or back again.