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Yes, you can deduct travel expenses for hosting shows as long as they are necessary and reasonable for your business. This includes transportation, lodging, and meals.
A hosting show can include events such as trade shows, conferences, workshops, and product launches. It must be related to your business and have a clear business purpose.
Yes, you can deduct gift expenses as long as they are directly related to your business and not considered lavish or extravagant. The cost of the gift must also be reasonable.
Yes, it is important to keep all receipts and records of your travel and gift expenses in case of an audit. The receipts should include the date, amount, and business purpose of the expense.
Yes, there are limitations on the amount you can deduct for these expenses. For travel expenses, you can only deduct the portion that is considered ordinary and necessary for your business. For gift expenses, you can only deduct up to $25 per person per year.