Ready For Vacation?!

[vc_row][vc_column][vc_column_text]

Are you tired? Tired of wondering what’s going on with the stock market? Tired of wondering whether inflation is going to take your retirement? Tired of not understanding the jargon being thrown around. Believe me, you are not unintelligent, it’s on purpose.

But that’s not what I’m here to talk about. I want to talk about being tired and how to fix it and save some cash.

VACATION!!

I just took one with some amazing friends. I am rejuvenated and ready to go!

I’ve got some good news for you: there are actually some tax benefits to traveling that you may not be aware of. That’s right! You can travel and save money!

TAX BENEFITS!!

Done properly, with just a bit of planning, you can deduct certain travel expenses from your taxes. If you’re traveling for business purposes, you can deduct expenses such as transportation, lodging, and meals.

So, that fancy hotel room you booked for your business trip? Deductible. That fancy dinner you treated your potential client to? Deductible. Keep track of all your receipts and expenses so you can accurately claim your deductions.

But what if you’re traveling for personal reasons? Don’t worry, you can still benefit from some tax deductions. For example, if you happen to own real estate in a place you would love to visit, you may be able to deduct certain expenses, if you volunteer while traveling, you can deduct certain expenses related to your volunteer work.

So, that trip to help build a school in a developing country? Deductible. Just make sure to work with a reputable organization and keep track of all your expenses and volunteer hours.

And if you’re like me doing locums work or have a remote job, you may even be able to take advantage of some tax benefits related to your home office. Depending on your situation, you may be able to deduct expenses such as rent, utilities, and internet costs.

If you’re ready to be able to take some great vacations and save money because you’re visiting your real estate holdings, set up a call. https://moneywithmission.com/book-a-call/

 

 

[/vc_column_text][/vc_column][/vc_row]

Share:

Facebook
Twitter
Pinterest
LinkedIn

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts

ICYMI: Money Tales: Money’s Everywhere with Dr. Felecia Froe

In this ICYMI conversation, Dr. Felecia Froe sits down with Sandi Bragar and Cammie Doder on the Money Tales podcast to trace the money narrative that shaped her from childhood all the way to founding Money With Mission. She opens up about watching her mother stay in a domestic violence relationship for financial reasons, the credit card mistakes she made in medical school, and how she used the CASHFLOW 101 game to teach her own daughters about money years before most parents even start the conversation. Felecia also walks through the deal that changed everything: a patient named Jamie who challenged her to buy her first real estate property and removed all the risk in doing so.

Foundations #10: You’re Not Bad with Money

You’re not bad with money. In this Foundations episode, Dr. Felecia Froe speaks directly to every woman carrying the belief that she’s somehow failed at money, whether she’s avoided her finances for years, watched a high income never translate into confidence, or is still making sense of a setback that shook her trust in herself. Felecia reframes the whole story: what looks like carelessness is actually overwhelm, what looks like incapability is actually a lack of preparation, and what looks like personal failure is actually a systemic failure.

ICYMI: How to Invest When You’re Scared (Because Everyone Is) with Dr. Felecia Froe

Felecia Froe became a urologic surgeon after succeeding in medical school and urology residency. Somehow she knew this wasn’t the last thing she would ever do. Her mind as rewired about the idea of money after reading Rich Dad Poor Dad by Robert Kyosaki. In this ICYMI conversation with Mary Katherine Johnson of Planet Wealth, Felecia traces her path buying 18 properties in two years, losing nearly everything in the 2008 crash, and rebuilding into a social impact investor who’s now running sober living homes and fighting food deserts. She gets honest about the fear that doesn’t fully go away, even after decades of deals, the mindset shift from working for money to making money work for you, and why she believes no woman should ever feel financially stuck in a job or relationship.