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Arks

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We're sailing aboard the Queen Mary 2, eating our way across the Atlantic from NYC to Southampton, then we'll spend a couple of weeks exploring the B&Bs of southern England and Ireland.
I have two B&B management books with me and have almost finished the first one. I've dog-eared about 30 pages of good info.
So I wonder how much of this vacation is tax deductible as business-related.
Internet connection time is too expensive to spend time reading the forum posts, and I've already spent too much money on single malt Scotch (it's not even sold in the nearest Arkansas liquor stores around my hometown, so I'm making up for lost time), but I look forward to getting an unlimited connection once we reach England. I've already been enjoying mushrooms and grilled tomatoes with my morning eggs, though I've never been a fan of British breakfast beans.
 

ukmaineiac

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If you can find it - try Peat Monster. Truly one of the most unusual, outstandingly great new single malts I've tried recently.
ALSO - if you see black pudding on a breakfast menu, you have to give it a go. Ingredients are scary but the savory, comforting taste is wonderful - basically savoury oatmeal. It is very different from the South and Central American versions.
Lastly - if you see Kedgeree on a breakfast menu - give it a whirl.
 

Joey Camb

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If you can find it - try Peat Monster. Truly one of the most unusual, outstandingly great new single malts I've tried recently.
ALSO - if you see black pudding on a breakfast menu, you have to give it a go. Ingredients are scary but the savory, comforting taste is wonderful - basically savoury oatmeal. It is very different from the South and Central American versions.
Lastly - if you see Kedgeree on a breakfast menu - give it a whirl..
OOOh I don't know (I know what is in it) my DH loves it but I just couldn't do it. You might try Haggis if you are in Scotland but I wouldn't ask what's in it!
 

ukmaineiac

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If you can find it - try Peat Monster. Truly one of the most unusual, outstandingly great new single malts I've tried recently.
ALSO - if you see black pudding on a breakfast menu, you have to give it a go. Ingredients are scary but the savory, comforting taste is wonderful - basically savoury oatmeal. It is very different from the South and Central American versions.
Lastly - if you see Kedgeree on a breakfast menu - give it a whirl..
OOOh I don't know (I know what is in it) my DH loves it but I just couldn't do it. You might try Haggis if you are in Scotland but I wouldn't ask what's in it!
.
Black pudding really is (for me) delicious. You've got to try it one day .... and yes I love haggis but you'll find black pudding way more palatable. It's just savoury, spicy, comforting and wonderful. YUM. For everyone else out there - I am very specifically talking about the UK version.
 

EmptyNest

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O wow! I am so jealous. I doubt you can deduct any of it. Because you are not an open business right now. Sorry.
 

seashanty

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pictures pictures pictures!!! post em when you get back!
 

Mini

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I think what Arkansawyer really wants to know is "HOW MUCH OF THIS TRIP IS TAX DEDUCTABLE"
I would be interested in knowing that myself if anyone could answer that.
 

EmptyNest

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I think what Arkansawyer really wants to know is "HOW MUCH OF THIS TRIP IS TAX DEDUCTABLE"
I would be interested in knowing that myself if anyone could answer that..
And that is what I told him...None of it.
If you don't own and operate the business currently........you cannot deduct it.
And how would he claim a cruise to England was for business anyway? A red flag to auditors these days....This is one of those "don't be greedy" areas my CPA always warns me about.
 

Innkeeper To Go

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I think what Arkansawyer really wants to know is "HOW MUCH OF THIS TRIP IS TAX DEDUCTABLE"
I would be interested in knowing that myself if anyone could answer that..
And that is what I told him...None of it.
If you don't own and operate the business currently........you cannot deduct it.
And how would he claim a cruise to England was for business anyway? A red flag to auditors these days....This is one of those "don't be greedy" areas my CPA always warns me about.
.
catlady said:
And that is what I told him...None of it.
If you don't own and operate the business currently........you cannot deduct it.
And how would he claim a cruise to England was for business anyway? A red flag to auditors these days....This is one of those "don't be greedy" areas my CPA always warns me about.
Exactly.
 

Morticia

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O wow! I am so jealous. I doubt you can deduct any of it. Because you are not an open business right now. Sorry..
catlady said:
O wow! I am so jealous. I doubt you can deduct any of it. Because you are not an open business right now. Sorry.
How about being able to deduct these expenses if the business does open this year? R&D? We deducted books, the innkeeping class, etc once we had our biz purchased. Travel to get to B&B's to look at them, staying over, meals, etc. The method of travel might raise an eyebrow, but if the expenses are inline with first class air travel, why not? I guess the quibble would be that owing and operating a US biz of this type has nothing to do with where they are doing the researching so that might put the kibosh on it. Of course, if they buy a B&B in the UK, they're all set.
 

Breakfast Diva

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I think what Arkansawyer really wants to know is "HOW MUCH OF THIS TRIP IS TAX DEDUCTABLE"
I would be interested in knowing that myself if anyone could answer that..
And that is what I told him...None of it.
If you don't own and operate the business currently........you cannot deduct it.
And how would he claim a cruise to England was for business anyway? A red flag to auditors these days....This is one of those "don't be greedy" areas my CPA always warns me about.
.
My accountant who is not exactly conservative, always tells me that if it's in the U.S., go ahead, but once you get so far from home it's just a huge red flag. Now I could probably get away with it if I were doing say a cooking school in Italy or something like that which really related to my business.
As CL said, you don't even have your business yet, so don't even think about it.
 

Innkeeper To Go

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O wow! I am so jealous. I doubt you can deduct any of it. Because you are not an open business right now. Sorry..
catlady said:
O wow! I am so jealous. I doubt you can deduct any of it. Because you are not an open business right now. Sorry.
How about being able to deduct these expenses if the business does open this year? R&D? We deducted books, the innkeeping class, etc once we had our biz purchased. Travel to get to B&B's to look at them, staying over, meals, etc. The method of travel might raise an eyebrow, but if the expenses are inline with first class air travel, why not? I guess the quibble would be that owing and operating a US biz of this type has nothing to do with where they are doing the researching so that might put the kibosh on it. Of course, if they buy a B&B in the UK, they're all set.
.
Sounds like a bit of a stretch to me, deducting a luxury cruise as transportation costs.
I would not do it personally.
That's not to say that Arkansawyer won't find a CPA who thinks it's all hunky dory. Of course, if a CPA told me that a luxury cruise was a reasonable tax deduction, I'd be looking for a new CPA. But that's just me.
 

Arks

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O wow! I am so jealous. I doubt you can deduct any of it. Because you are not an open business right now. Sorry..
catlady said:
O wow! I am so jealous. I doubt you can deduct any of it. Because you are not an open business right now. Sorry.
How about being able to deduct these expenses if the business does open this year? R&D? We deducted books, the innkeeping class, etc once we had our biz purchased. Travel to get to B&B's to look at them, staying over, meals, etc. The method of travel might raise an eyebrow, but if the expenses are inline with first class air travel, why not? I guess the quibble would be that owing and operating a US biz of this type has nothing to do with where they are doing the researching so that might put the kibosh on it. Of course, if they buy a B&B in the UK, they're all set.
.
Sounds like a bit of a stretch to me, deducting a luxury cruise as transportation costs.
I would not do it personally.
That's not to say that Arkansawyer won't find a CPA who thinks it's all hunky dory. Of course, if a CPA told me that a luxury cruise was a reasonable tax deduction, I'd be looking for a new CPA. But that's just me.
.
Luxury cruise? I'll have you know I'm really roughing it here! I asked for biscuits with my eggs and they brought me crackers! I asked for bacon and they brought me ham! Somehow, meanings of some English words got mixed up when my ancestors left Wales and Ireland.
But seriously, I wouldn't think of deducting the cruise part of the trip, but surely SOMETHING is deductible. I know people who go on business seminars all the time aboard cruise ships and I feel sure they're deducting at least some of it.
Yes indeed I need to find out when the IRS considers a business to be started. I've registered the business LLC with the state, opened a business bank account, and spent money out of it for things I'm already accumulating for the business. Certainly any new business has many expenses before they open the doors to the customers, and I'm sure most of it is a deductible business expense.
 

Innkeeper To Go

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O wow! I am so jealous. I doubt you can deduct any of it. Because you are not an open business right now. Sorry..
catlady said:
O wow! I am so jealous. I doubt you can deduct any of it. Because you are not an open business right now. Sorry.
How about being able to deduct these expenses if the business does open this year? R&D? We deducted books, the innkeeping class, etc once we had our biz purchased. Travel to get to B&B's to look at them, staying over, meals, etc. The method of travel might raise an eyebrow, but if the expenses are inline with first class air travel, why not? I guess the quibble would be that owing and operating a US biz of this type has nothing to do with where they are doing the researching so that might put the kibosh on it. Of course, if they buy a B&B in the UK, they're all set.
.
Sounds like a bit of a stretch to me, deducting a luxury cruise as transportation costs.
I would not do it personally.
That's not to say that Arkansawyer won't find a CPA who thinks it's all hunky dory. Of course, if a CPA told me that a luxury cruise was a reasonable tax deduction, I'd be looking for a new CPA. But that's just me.
.
Luxury cruise? I'll have you know I'm really roughing it here! I asked for biscuits with my eggs and they brought me crackers! I asked for bacon and they brought me ham! Somehow, meanings of some English words got mixed up when my ancestors left Wales and Ireland.
But seriously, I wouldn't think of deducting the cruise part of the trip, but surely SOMETHING is deductible. I know people who go on business seminars all the time aboard cruise ships and I feel sure they're deducting at least some of it.
Yes indeed I need to find out when the IRS considers a business to be started. I've registered the business LLC with the state, opened a business bank account, and spent money out of it for things I'm already accumulating for the business. Certainly any new business has many expenses before they open the doors to the customers, and I'm sure most of it is a deductible business expense.
.
Arkansawyer said:
But seriously, I wouldn't think of deducting the cruise part of the trip, but surely SOMETHING is deductible. I know people who go on business seminars all the time aboard cruise ships and I feel sure they're deducting at least some of it.
Yes indeed I need to find out when the IRS considers a business to be started. I've registered the business LLC with the state, opened a business bank account, and spent money out of it for things I'm already accumulating for the business. Certainly any new business has many expenses before they open the doors to the customers, and I'm sure most of it is a deductible business expense.
Yes, there are lots of expenses you'll be accumulating before the business opens that, no doubt, will be deductible. But to find out just what those are, your best bet is to talk to a good accountant. You'll want to do that anyway as you're setting up this business, so why not get started on that now?
We can all talk about what we do and what's worked for us. But for tax planning, you really should be talking to an expert in taxes.
IMHO.
 

Morticia

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O wow! I am so jealous. I doubt you can deduct any of it. Because you are not an open business right now. Sorry..
catlady said:
O wow! I am so jealous. I doubt you can deduct any of it. Because you are not an open business right now. Sorry.
How about being able to deduct these expenses if the business does open this year? R&D? We deducted books, the innkeeping class, etc once we had our biz purchased. Travel to get to B&B's to look at them, staying over, meals, etc. The method of travel might raise an eyebrow, but if the expenses are inline with first class air travel, why not? I guess the quibble would be that owing and operating a US biz of this type has nothing to do with where they are doing the researching so that might put the kibosh on it. Of course, if they buy a B&B in the UK, they're all set.
.
Sounds like a bit of a stretch to me, deducting a luxury cruise as transportation costs.
I would not do it personally.
That's not to say that Arkansawyer won't find a CPA who thinks it's all hunky dory. Of course, if a CPA told me that a luxury cruise was a reasonable tax deduction, I'd be looking for a new CPA. But that's just me.
.
I was thinking the cost of the cruise may be the same price as first class plane tix. The rates start around $2000. Now, if you've got the luxe rooms, I doubt you could write off $7k in transport. The QM2 stops here occasionally, we get a fair number of tourists wandering around when it docks.
 

Morticia

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O wow! I am so jealous. I doubt you can deduct any of it. Because you are not an open business right now. Sorry..
catlady said:
O wow! I am so jealous. I doubt you can deduct any of it. Because you are not an open business right now. Sorry.
How about being able to deduct these expenses if the business does open this year? R&D? We deducted books, the innkeeping class, etc once we had our biz purchased. Travel to get to B&B's to look at them, staying over, meals, etc. The method of travel might raise an eyebrow, but if the expenses are inline with first class air travel, why not? I guess the quibble would be that owing and operating a US biz of this type has nothing to do with where they are doing the researching so that might put the kibosh on it. Of course, if they buy a B&B in the UK, they're all set.
.
Sounds like a bit of a stretch to me, deducting a luxury cruise as transportation costs.
I would not do it personally.
That's not to say that Arkansawyer won't find a CPA who thinks it's all hunky dory. Of course, if a CPA told me that a luxury cruise was a reasonable tax deduction, I'd be looking for a new CPA. But that's just me.
.
Luxury cruise? I'll have you know I'm really roughing it here! I asked for biscuits with my eggs and they brought me crackers! I asked for bacon and they brought me ham! Somehow, meanings of some English words got mixed up when my ancestors left Wales and Ireland.
But seriously, I wouldn't think of deducting the cruise part of the trip, but surely SOMETHING is deductible. I know people who go on business seminars all the time aboard cruise ships and I feel sure they're deducting at least some of it.
Yes indeed I need to find out when the IRS considers a business to be started. I've registered the business LLC with the state, opened a business bank account, and spent money out of it for things I'm already accumulating for the business. Certainly any new business has many expenses before they open the doors to the customers, and I'm sure most of it is a deductible business expense.
.
There are seminars that take place on the cruise ships, so those are deductible as long as you can prove they relate to your biz. Like I2G said, you need an acct. We've never written off travel because you actually have to make enough money to cover the expenses you're incurring. No minus returns allowed so even when you lose money you can only claim expenses down to $0.
 

Copperhead

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O wow! I am so jealous. I doubt you can deduct any of it. Because you are not an open business right now. Sorry..
catlady said:
O wow! I am so jealous. I doubt you can deduct any of it. Because you are not an open business right now. Sorry.
How about being able to deduct these expenses if the business does open this year? R&D? We deducted books, the innkeeping class, etc once we had our biz purchased. Travel to get to B&B's to look at them, staying over, meals, etc. The method of travel might raise an eyebrow, but if the expenses are inline with first class air travel, why not? I guess the quibble would be that owing and operating a US biz of this type has nothing to do with where they are doing the researching so that might put the kibosh on it. Of course, if they buy a B&B in the UK, they're all set.
.
Sounds like a bit of a stretch to me, deducting a luxury cruise as transportation costs.
I would not do it personally.
That's not to say that Arkansawyer won't find a CPA who thinks it's all hunky dory. Of course, if a CPA told me that a luxury cruise was a reasonable tax deduction, I'd be looking for a new CPA. But that's just me.
.
Luxury cruise? I'll have you know I'm really roughing it here! I asked for biscuits with my eggs and they brought me crackers! I asked for bacon and they brought me ham! Somehow, meanings of some English words got mixed up when my ancestors left Wales and Ireland.
But seriously, I wouldn't think of deducting the cruise part of the trip, but surely SOMETHING is deductible. I know people who go on business seminars all the time aboard cruise ships and I feel sure they're deducting at least some of it.
Yes indeed I need to find out when the IRS considers a business to be started. I've registered the business LLC with the state, opened a business bank account, and spent money out of it for things I'm already accumulating for the business. Certainly any new business has many expenses before they open the doors to the customers, and I'm sure most of it is a deductible business expense.
.
And I am sure you WILL be shopping for things to use in the B&B, right??? And while you're at it, why not take a little cooking class if you can find one! I think you may be able to take a little bit of a deduction but unless the cruise is including a business senimar, I think you would not get very far with your method of travel.
What fun you must be having. Enjoy!
 

JBloggs

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Arkie did I forget to mention the Aspiring Seminars at Sea? Oh yeah... a group of consultants from NC puts them on...let me find the info.
For everyone else as well...anyone interested? And they have balconies on this ship...ROOMIES? ANY ROOMIES OUT THERE?
The entire cost of this Cruise is Tax deductible for Innkeepers and aspiring Innkeepers. Check with your accountant.
http://www.innmarketing.com/cruise.php
 

Innkeeper To Go

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Arkie did I forget to mention the Aspiring Seminars at Sea? Oh yeah... a group of consultants from NC puts them on...let me find the info.
For everyone else as well...anyone interested? And they have balconies on this ship...ROOMIES? ANY ROOMIES OUT THERE?
The entire cost of this Cruise is Tax deductible for Innkeepers and aspiring Innkeepers. Check with your accountant.
http://www.innmarketing.com/cruise.php.
And the seminar at sea is quite the bargain, given all that's included.
 
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