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Thread: Trip to Bermuda - Tax Deduction

  1. #1
    AudreyLeigh
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    Default Trip to Bermuda - Tax Deduction

    Trip to Bermuda


    Bermuda is a great place to schedule a tax write-off because business conventions held in Bermuda are deductible without having to show that there was a special reason for the meeting to be held there. That's a sweet perk. Attend a convention in Paris or Rome or Beijing, though, and there's no deduction unless you can show it made as much sense to travel abroad as to head to Pittsburgh.




    Think I could pull this off?!?

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    Newbie WineSnob's Avatar
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    Default Re: Trip to Bermuda - Tax Deduction

    Probably not, unless there is a stripper convention, or something materially related to your business. It's not unique to Bermuda btw. It's part of the Caribbean Basin Initiative, which includes the following (I believe many others as well):

    � Aruba (Nov. 21, 2003)
    � Antigua & Barbuda (Feb. 9, 2003)
    � Bahamas (Dec. 31, 2003)
    � Barbados (Nov. 2, 1984)
    � Bermuda (Dec. 1, 198
    � British Virgin Islands (April 3, 2002)
    � Cayman Islands (Nov. 27, 2001)
    � Dominica (May 7, 198
    � Dominican Republic (Oct. 11, 1989)
    � Grenada (July 12, 1987)
    � Guyana (Aug. 26, 1992)
    � Jamaica (Dec. 17, 1986)
    � St. Lucia (Apr. 21, 1991)
    � Trinidad & Tobago (Feb. 8, 1990)



    Semi-standard rules on business travel expenses still apply. I believe that you have to prove that you spent no more than 25% of your time in non business related activities. If you can do that, it's all deductable. There's other criteria as well.

    Anyway, these are huge red flags for an audit.

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    God/dess britneyireland's Avatar
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    Default Re: Trip to Bermuda - Tax Deduction

    If there is a strip club in Bermuda, you can write off a portion because you are scouting out potential locations to relocate your business to.
    Rebecca Avalon







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    God/dess Miss Jessica's Avatar
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    Default Re: Trip to Bermuda - Tax Deduction

    Quote Originally Posted by britneyireland View Post
    If there is a strip club in Bermuda, you can write off a portion because you are scouting out potential locations to relocate your business to.
    Really??? Oooh, I like that thought! Any other info I should know about being able to do this? Like what exactly do you mean by a "portion"? So I don't screw myself.
    I was going to be doing that anyways (scouting clubs) around the states.
    Last edited by Miss Jessica; 05-12-2008 at 04:30 PM.
    "We all must suffer from one of two pains: the pain of discipline or the pain of regret. The difference is discipline weighs ounces while regret weighs tons. In order to achieve what others don't, you have to do what others won't."


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    God/dess Lysondra's Avatar
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    Default Re: Trip to Bermuda - Tax Deduction

    Quote Originally Posted by britneyireland View Post
    If there is a strip club in Bermuda, you can write off a portion because you are scouting out potential locations to relocate your business to.
    There is!


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  6. #6
    TheSexKitten
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    Default Re: Trip to Bermuda - Tax Deduction

    ... sorry to jack, but does anyone think I could "scout out clubs" in Colombia over the summer...?

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    Featured Member babybambi08's Avatar
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    Default Re: Trip to Bermuda - Tax Deduction

    I saw we all get together and do this sometime.. have a stripper conviention lol .. then we could all write it off..


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    Default Re: Trip to Bermuda - Tax Deduction

    Quote Originally Posted by babybambi08 View Post
    I saw we all get together and do this sometime.. have a stripper conviention lol .. then we could all write it off..
    ahah we totally should!

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    Featured Member babybambi08's Avatar
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    Default Re: Trip to Bermuda - Tax Deduction

    lol ok then we SHALL !! we can start thinking about planning a trip next summer..


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