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Are trade shows tax deductible

I have recently opened up a hobby/collectibles store. If I need to travel out of state for a trade show to buy/sell at, is any of it tax deductible? What receipts should I keep. 

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Vanessa A
Employee Tax Expert

Are trade shows tax deductible

Yes.  If this is a business you have started, then the expense of trade show fees, travel to them and from them, hotel rooms, tables or other costs associated with the trade show is deductible as a business expense. You may also be able to deduct half of your meal expenses while away at the shows. 

 

You should keep ALL receipts, including email receipts for all of these expenses.  If you drive to these events you should also keep a mileage log of your travel. 

 

After you enter your business income in TurboTax, TurboTax will guide  you through entering all of your expenses as well. 

 

Taking Business Tax Deductions

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