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How not to document your business travel
February 14, 2012
The tax law has very specific requirements you must meet before you can deduct your business travel. A Tax Court case yesterday shows how not to meet them:
Mr. Lysford's entries in his spiral notebooks are wholly inadequate. They merely list the date and destination of airplane and automobile trips. No business purpose for the trips, no names of clients visited, and no description of business scheduled, conducted, or attempted is provided. A list of dates representing Mr. Lysford's airplane and automobile trips with no identification of the people visited, the locations visited, the nature or purpose of the trips, or the business actually conducted falls well short of the substantiation required by section 274(d)
Flickr image courtesy jxandreani under Creative Commons license Time and place, amount, persons met and business relationship, and business business purpose: if you can't show these for your travel costs, Section 274 says you lose.
Cite: Lysford, T.C. Memo 2012-14.
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