Tag Archives: vacation

Planning for a Tax Deductible Vacation

For Business Owners, a business vacation can be a valuable tool and tax deduction. Typically, however, the business owner gets to tax time and finds out there is a big tax liability due. Then the wheels start turning. "What other deductions has she missed? Oh yes, the family vacation!" Thoughts turn to the family vacation and how it could possibly be construed to be a business trip.

How to Take a Vacation From Your Business

I once went to a seminar where the presenter was Michael Gerber who wrote the ‘E-Myth’. (The ‘E-Myth stands for the ‘Entrepreneurial Myth’ and it is a great book that everyone starting a business should read.) Anyway, at the morning tea break, Michael said to the audience something like: “I want you to go out now and ring your office and tell them you will not be back for a month.” It was a number of years ago and I can’t remember the timeframe exactly, but I can vividly remember the point he was trying to make.