Tax Advice for Travel

Discussion in 'Accounting and Taxes' started by TheGrandAdmiral, Oct 13, 2014.

  1. TheGrandAdmiral

    TheGrandAdmiral
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    If I book a flight for business this year, but the flight actually departs next year, would I write off the travel expenses (or at least the booked flight) on my taxes for this year, or would I have to wait to write them off next year?

    Thanks.
     
  2. Joseph.Shivell

    Joseph.Shivell
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    It would depend on the laws of whatever country you are located in, but I believe it would be deducted in the year the trip is actually paid for. If you are located in the US, you can find more information in the official Internal Revenue Service website. If you are located in East Asia, you would have to check with the applicable laws there.
     
  3. Shield Funding

    Shield Funding
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    It is likely best to do it for the current year. Check with an accountant if there are any benefits to holding off the expense to next year though.
     

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