Corporate Travel Destinations

When it comes time to start discussing corporate travel options and ways to justify the expenses, which are usually very low compared to leisure travel, it is possible to forget the tax benefits of corporate expenses. While tax law is incredibly complex, the following generalities are often accurate and beneficial to the company’s bottom line:

• By availing themselves of the networking opportunities and other business options, most businesses can find it very easy to allow for their business trips to qualify as business expenses that can be written off as tax deductions.

• Tax deductions related to travel may not necessarily be on a 1 to 1 basis in terms of dollar value, but having a loss largely consumed by tax liability that in turn presents business opportunities or advantages is generally considered to be a great idea.

• Excellent records should be kept of all corporate travel expenses. Consider using inclusive travel options for easier accounting and less time spent planning.

As with any tax-related issue, it would be wise to consult with a qualified accountant to make the final determination regarding what is and is not allowed for deductions. A short meeting with the staff accountant or outside accountant could be the difference between stepping up to the challenge and opportunities available or continuing on a stable but less profitable path.

When it comes time to plan a large corporate retreat, savvy meeting planners and/or event planners need to consider at least four different factors.

Distance & Travel – how far will the destination be from all parties? Remember that organizations with far-flung offices will need to find ways to transport the relevant from those offices to the destination in question. This can become an expensive venture rather quickly, but planners can mitigate this by planning ahead.

Scheduling & Jet Lag – Corporate travel is always a combination of work and play. Whether it is a cruise meeting, incentive travel, or a retreat, event planners should always try to strike a balance between work and play. Remember that jet lag may be a factor to contend with, so start off slow with events and meetings if possible.

Allergies & Location – Planning an outdoor event or a team-building getaway in the woods might sound great until Susan in accounting turns out to be allergic to the grass and Bob from sales cannot stop itching for some reason. Remember to consider allergies before planning any corporate event. If guests are being brought into the event, be sure to inquire as to their health needs.

Food & Drink – Many corporations prefer to self-cater, but it does not really matter who does the catering if those who have certain dietary needs are not being met. With vegetarian and vegan lifestyles becoming more popular, and a handful of religions taboos on foods, it pays to spend a good deal of time on food.