Combine business and pleasure on the same trip this summer. Within the U.S., if the primary purpose of the trip is business and you add on a side trip or an extra few days for pleasure, you can deduct all the travel costs to and from your business destination and all other business-related costs. You can’t deduct costs related to the pleasure portion.
Summertime is a good time to take care of the tax and financial tasks you’ve been putting off – planning for college, retirement, and your estate, for example.
Consider hiring your child for the summer. Your son or daughter can earn up
to $5,000 tax-free this year, and your business is entitled to a deduction
for the wages paid.