senior travel and tax deductions

Senior Travel, and Tax Deductions

If you’re a person like me, you probably try your best to keep receipts, and then find them in an obsure envelope in the kindling a year later. Try not to be like me. Senior travel, and tax deductions is an art that each of us should get good at creating with….After all, we have earned it, right? I am not an expert by any means about tax deductions, but if you are interested in senior travel and tax deductions, it is good to know what travel expenses are tax deductible. Here is an excerpt from an article in USA today that reflects this question:

“The easiest way is to write on the back of each receipt the following; reason of the expense, name of person you met. The location and date will be in the receipt,” says Vielka Burey-Jacas, a certified financial planner in Miami.

Travelers often forget to keep a log of their car trips because it can get so tedious.”Your records must be contemporaneous,” says Jackie Perlman, principal tax analyst for the Tax Institute at H&R Block. “That means that you’re making your record at the time something happened.”

Perlman recalls a couple who proudly showed off Excel spreadsheets tracking the mileage of all the car trips. Clearly, they had just copied and pasted, because each day had the same numbers. “Just because you have a lot of paper does not mean you’ve kept good records,” she says.

 

So here you go, don’t be like me, follow the rules, and be a good senior traveler. You can follow the advice of experts, (my recommendation) and create a business out of cultural travel that is suited for your needs. Senior travel,  and tax deductions is complex, but with the best advice, can be sorted through to offer a way in which you can travel, be a senior, and enjoy other cultures! Go here  now to read the full article.

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