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New tax reduction strategies carefully explained and exhaustively researched every two weeks. Receive breaking news updates on tax law changes. Members only monthly AMA with TOTTB.tax.
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Can You Write Off Your Vacation on Your Taxes?
I saw a meme that said, “accountants go on vacation just so they can work from another location.” This might be true. So maybe, just maybe you can write your vacation off on your taxes. But on a serious note, this is a question that taxpayers have. “Can I write off my vacation on my taxes?” I hate to blame everything on the internet but...it is a dangerous place for taxpayers. There is an infamous Tik Tok video turned reel that has found its way into my DMs and e-mail inbox several times. I’m often amused by the bad tax advice that goes viral online. The comments tend to make me giggle or give me cause for concern. This particular video gave me more cause for concern. The main reason it did this is because of the amount of tax professionals that shared in agreement. I’m all for advertising on social media but often we must be careful as tax professionals. We have certain ethical obligations that unfortunately do not apply to other industries. We do not want to mislead taxpayers for “likes” or potentially going viral. Let me get to the details of the video. A tax professional whose credentials I won’t mention, was sharing how taxpayers can use their entire family vacation as a write off on their Schedule C. Rightfully so, this made taxpayer’s ears perk up. Why not kill two birds with one stone, right? What should not have happened was tax professionals sharing the video with filling in the blanks. I know you would never do that, and that’s why you’re here. To find out what parts of travel your client can write off on their taxes. So, let’s look at what constitutes something being a business expense. Then we’ll look at the due diligence you should take to make sure their travel and meal expenses are legitimate.
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CURRENT EDITION
A Court Just Bought Your Clients More Time on Clean Energy Tax Credits Here’s How to Use It
A federal district court just struck down an IRS rule that had been closing the door on a pretty compelling tax savings opportunity available to your clients today, the Section 48E Clean Electricity Investment Tax Credit. The ruling, handed down on June 6, 2026, reinstated a key pathway that allows investors to lock in credit eligibility for large-scale wind and solar projects a pathway the IRS had tried to eliminate just last year. The window is not wide open. July 4, 2026 is still the critical deadline, and the government will almost certainly appeal. But for advisors who act quickly, this ruling creates a genuine, time-sensitive planning opportunity. Here is what you need to understand, and what you should be doing right now.
Your Summer Tax Practice Playbook: Three Moves to Make Before Labor Day
Tax Day is finally in the rearview mirror, and if you’re like many practitioners—with the phones quieter, the inbox manageable, and the September extension wave feeling comfortably far away—the temptation right now is to coast. Resist that temptation. Summer is the only stretch of the calendar when both you and your best clients have the bandwidth to think strategically; furthermore, this summer, there is a deadline-driven opportunity. In this article, I’ll walk through three moves every practitioner should be making between now and Labor Day. The first move has a hard statutory deadline of July 10, 2026. The second move is about turning your highest-value client conversations into billable advisory engagements. And third is about tending to the practice itself because a tax practice, like a garden, doesn’t survive without care.
What Every Client Should Know About Partnership Distributions
Perhaps the most misunderstood aspect of partnership taxation relates to distributions. When a partnership distributes cash or property to its partners, the tax consequences can range from completely tax-free to significantly taxable, depending on how the distribution is structured and the partners’ tax basis in their partnership interests. In this article, we’ll explore the rules governing partnership distributions and how they impact partners’ tax situations. More importantly, we’ll look at strategies to structure distributions in the most tax-efficient manner possible – because the goal is not just to understand the rules but to use them advantageously.
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Think Outside the Tax Box provides tax reduction strategies along with practical
implementation advice in order to reduce your clients’ federal tax bill with ease.
