How to Deduct Your Vacation

Before George McCutchen, a sales associate at commercial real-estate firm Grubb & Ellis, headed off for a week's vacation at an ocean-front condo in Litchfield Beach, S.C., he made a key vacation purchase: an iPhone. "I wanted to be able to open documents and see leases and contracts," he said, adding that he spent about two hours each morning of his week off dealing with business via email and cell phone.

Ah, vacation time. Beach, glistening ocean, warm sun. Breezy novels and idle walks. A cell phone call from the office. Then, another. Tiny screens sadly have made manic up-to-the-minute communications with the office an integral part of the modern day family vacation. But here's the silver lining: The IRS - unlike your spouse and kids - may be willing to cut you a break for the hard work you carve out of your precious vacation days.

The time spent reading messages on your BlackBerry, reviewing reports online and participating in conference calls may make you eligible for deducting a portion of your travel expenses from your taxes. But exactly which, and how much of your travel expenses, are deductible isn't always clear. So it will require good judgment and solid electronic evidence in case the IRS decides to review your deductions.

Continue reading here.

By Karen Hube, The Fiscal Times

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