Can You Deduct Foreign Business Travel & More: September Tax Tips

We at Safe Harbor CPAs specialize in international tax issues, as many of our San Francisco Bay Area clients have financial interests in foreign countries. Often, they go to visit their assets – they might be real estate, factories, or even joint ventures with friends, families, and overseas corporations. But can one deduct a foreign travel expense on a US tax return? For that, we turn to our timely September Tax Tips Newsletter.

Other topics for September tax tips, include –

• Passive investing vs. active investing – what are the (taxable) differences?
• Inherited IRA assets and bankruptcy – if your Mom or Dad passes away AND they are bankrupt, can you inherit their IRA?
• Deducting Foreign Business Travel – as explained above, the in’s and out’s of how to deduct foreign travel expenses.

And, of course, we have our ever-popular tax calendar with upcoming events in September.  Enjoy!  To read the September tax tips bulletin, click here.

And, as always, if you have questions or needs in tax, CPA / accounting or other San Francisco Bay Area-related issues, please reach out to us by email or call 415-742-4294.