Can We Write off Our Earned Trips?

[PampMomof3]

This is the first year I earned a "free trip" and it was to San Francisco. I'm right in the middle of doing my taxes and on my 1099 it lists San Fran for $2521.73. Can we do anything with that amount on our taxes?

Thanks in advance!

 

[fruit76loop]

hmmmm...This is one of the questions you will hear all 3 answers! Yes, No, and your portion of the trip. I know one Senior Exec that says her account says to write the whole thing off, her CPA told her she could write it all of because of networking. My CPA, however, says that I can only write off my 1/2 of the trip. And I know many consultants who say you can't write it off at all.

This is something you will want to consulant a CPA on.

I am very comfortable writing my 1/2 of the trip off because Duska and I talk PC the whole time we are on the trips while our hubbies just sit there and roll their eyes! On one train ride, they rode in a seperate cabins!!!

 

[PampMomof3]

Thanks Marlene! I knew you'd have some kind of answer for me!

 

[DebbieJ]

LOL Marlene!Kristi, did we talk PC the whole time? We'll have to make sure we do on the cruise.

 

[PampMomof3]

YES YES YES!! I remember Brian and Anthony talking on the ferry on the way back from Alcatraz because we were so wrapped up in talking about PC! I also remember waiting for the ferry and informing the guys about what Top Performance Cluster is!

I still have to find a sitter for the cruise! UGh! My kids also have spring break the week before our cruise so I'll be stoked to go on a boat for peace and quiet for 5 days!

 

[DebbieJ]

woohooooooooI'm still waiting on my flights. Another consultant around here said she got a 6 a.m. departure. YUCK

 

[nicki25]

Since you are on the subject. I got my 1099 and it has my $300 conference cash on it. Now, why do I have to list that on my taxes??? When I use the card I pay tax on all my purchases, so am I paying tax twice?????

 

[cmdtrgd]

You earned the $300 in cash. It is just like you earned commission. When you use it for PC stuff, that is a write off.

 

[pamperedbecky]

woohoooooooo

I'm still waiting on my flights. Another consultant around here said she got a 6 a.m. departure. YUCK

Yep, that was me. I asked if they'd send us out the night before and pay for the hotel. They said they could but the hotel would be at our expense. I don't want to do that. They did then find an 8 am flight on United out of O'Hare, so we took that. That won't be quite as painful. We'll leave the house at 5:30 am instead of 3:30 am!!

Hope you get your flight soon, Debbie!

 

[Shawnna]

Yes, conf. cash is just like income...or earning S-A-T products...so we would have to pay income tax on it on top of the sales tax that we paid when we used it.

 

[RebelChef]

Since you are on the subject. I got my 1099 and it has my $300 conference cash on it. Now, why do I have to list that on my taxes??? When I use the card I pay tax on all my purchases, so am I paying tax twice?????

One is sales tax and the other is income tax. You can write off sales tax on your income tax return if you can prove it's more than the standard deduction. That's based as a percentage of your total income. If you have sales receipts, especially for large purchases, you may have enough.