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Business trips and tax deductions?


If I take a business trip to an establishment to check out the competition and how they "do things" (i.e. a bed and breakfast in another state), would I be able to deduct the travel expenses and meals completely, or will I only be able to deduct 50%?

Are you currently in the B&B or related business? Then your expenses to evaluate the market are tax deductible. There is a limit on meals and entertainment expenses of 50%.

If you are self-employed, these expenses are taken on Schedule C. If you are employed, they are figured on Form 2106 and transferred to Schedule A as miscellaneous deductions subject to a 2% of AGI floor.
Meals 50%, travel and lodging 100%, assuming that you can justify it as business, not personal vacation.
the deduction is always the same no matter what the reason is for travel . . .
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