TAX DEDUCTIONS ON BUSINESS CONVENTIONS

Travel expenses for attending a convention related to your business are deductible, however you cannot deduct travel expenses if the convention is related to financial planning or investing.

If a convention is held on a cruise ship, the maximum amount that you can deduct per year is $2000. If a convention is held outside of North America, you must meet certain criteria before deducting your travel expenses.

NOTE: If you have a business, convention expenses go on Schedule C. If you are an employee, then your out-of-pocket expenses should be listed on Schedule A as a miscellaneous itemized deduction.