Business convention expense deductibility - is it better in the Bahamas?

Article Abstract:

Business travelers can deduct food, lodging, and transportation expenses associated with attending business conventions when the costs are directly related to business or trade. Factors affecting deductibility are: purpose and location of a convention, and travelers' ability to substantiate costs. Comparing time spent conducting business with personal time spent can determine if a trip is directly related to business. Cruise ships used as convention locations must be registered in the US, and attendees must be able to show the purpose of the meetings. Travelers must substantiate expenses with receipts showing cost of transit, meals, lodging, and registration fees. Travelers must also show documentation of time and date of departure and return, and what benefits a business gained from travel.

Usage, Taxation, Business travel

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Big benefits all round

Article Abstract:

The planned merger between Siebe and BTR should benefit both companies. The new company will be led by Siebe's Allen Yurko. Siebe will gain market leadership in power systems, controls and automation. Cost savings of a minimum 250 million pounds sterling could be achieved after the third year, and 90 million pounds for the initial three years. BTR had suffered stagnant sales growth, and acquisitions were not delivering the results that they had achieved in the past.

Electric Industrial Equipment, Electrical Equipment Manufacturing, Electrical Industrial Apparatus, Industrial equipment, Mergers, acquisitions and divestments, Electric equipment, Control equipment industry, BTR PLC, Siebe PLC

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