Turn a family vacation into a tax deduction by scheduling a board meeting during the trip. Pair it with legitimate business activities like conferences or property inspections, and each day becomes a deductible business expense.
One of the best people to have on your board are the people you're going to travel with, people that you're going to take vacations with. Because we want to take a tax write off when we're having a board meeting on a Thursday in November, eating turkey dinner, we can do both. You know, many times we've had a Thanksgiving dinner and then a family board meeting. We used to do that with my mom and dad. This is an incredible opportunity for you when you're traveling with your friends and family, when your clients are traveling with friends and family, to say, let's turn it into a board meeting. We want to find tax deductible reasons for every trip. Maybe they're going to attend a conference or check on our rental property, go visit a customer, client, whatever. But we can also have a board meeting for one of those days and help create a powerful tax deduction.
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