Every businessman dreams of taking his fist business trip. He envisions himself on the boardroom table of some well-known company, smiling with confidence as he negotiates a good deal for his partners. He envisions himself mingling with some of the best people in the industry. The only real problem is that he usually has to plan his trip well in advance, and often has to request flights, hotels, guides, etc., to become anywhere he really wants to be. How then can a businessman start planning a business trip? There are numerous surprising, yet simple, techniques a business trip could fail, here’s a short checklist to get you started for success.
DO absorb business expense records. This sounds obvious, but it is surprisingly common for people to not keep accurate expense records. 강남셔츠룸 is that if a company or organization gives you a business expense receipt, it’s also advisable to keep a copy of the check, and if it’s a charge card, keep a copy of this aswell. Incidentally, the receipt is a perfect document for documenting travel expenses (even if those expenses are for airfare alone, such receipts enables you to know exactly how much you spent on all other areas of your trip.) Don’t forget to keep copies of all phone numbers, and your itinerary will include a full list of all meals and lunches taken.
DO plan your projects days and leave time. If you’re taking off from work for any amount of time, even just a couple hours, you need to make plans for how you’ll get to your next destination. A business trip needs adequate time from work in order to permit you to relax, so having a solid work day and sufficient vacation time should be a priority.
DO use your organization trips budget wisely. Business trips are a great way to increase your income, but if they’re used incorrectly, they can turn into a way to obtain stress and financial loss. Do not blow all of your money on business excursions that are only going to bring you minimal benefits and little positive financial impact. Spend less where you can, and use that money to lessen your stress levels as well as your overall cost of travel.
DON’T make the error of assuming you can deduct everything you need out of pocket on your business trip. Although you may purchase a hotel and all of your meals, the IRS holds all the relevant records. If you don’t have someone trustworthy like a tax professional or accountant with you, make sure you’re covering all related costs. You may be able to ensure you deduct more from your employer, but you may still find things you can’t do, like planing a trip to your home state, etc.
DON’T assume that just because you’re traveling for work purposes you can completely disregard tax laws. Even if you are using a corporate business travel policy to cover your work, any tax-related expenses must still be declared. This applies whether you are working from home, from the airport, or on your business trip. If you don’t declare all your business travel-related expenses, it’s very possible you could lose thousands in taxes. Be especially careful about how much time you spend on any additional business trips since this can affect the amount of time you have left where to file your taxation statements. It’s best to keep all receipts for business travel-related expenses, and ask your accountant to review your records for tax preparation purposes.