Sbi Magazine

For many people, starting their own home-based business is the key to financial and personal freedom. The opportunities are endless, just depending on your own interests. You can be responsible for your own success and enjoy the fruits of your labor.

One of the most appealing factors in a home-based business is the freedom to work when you want. You can set your own schedule and work as often or as little as you would like. There are no bosses or other employees to worry about. It is up to you to set the limits and goals for your business. If you want to work full- or part-time, the decision is yours.

Start a Home-Based Travel Business

A very successful field for many people is a home-based travel business. Being a home-based travel agent means making available travel products produced by someone else. You can do it two ways. You can be a referral agent, directing people to a travel agency. Then you would receive part of the commission on these sales. You can also book your own vacations and travel. You will receive a commission on that as well.

The second way to have a travel business is to be a booking and selling agent. You would deal directly with the clients to help them find the kind of traveling experience they are looking for. Then you would research the options for them. You would deal with the travel supplier, looking for the best options. Then you would present the options to them and let them choose what they want. After they have decided, you would make all the arrangements for them. In exchange for all this, you would receive a higher commission than the referral agent.

Get Help Online

Becoming a home-based travel business is not complicated. There are many online sites that will help you get started. You don’t need a lot of money to start out and you can get plenty of information and support. By checking these sites, you will learn how to get started and have many of your questions answered. They can help you get started in an orderly manner and have a professional home-based travel business ready to go.

There are numerous places online to find discount travel packages, coastal vacations, and many other travel ideas. You can choose whom you will work with and enjoy the benefits of helping others. You will find the business opportunity is only limited by your time and motivation.

Be Successful In Your Home-based Travel Business

Even if you do not want to have a fulltime home-based travel business, you could earn enough to give yourself free trips and share discount travel with your friends. You can earn enough for a decent second income even if your time is limited.

Whether you want a home-based business as a full- or part-time job you will find that some great opportunities are available. By starting your own home-based travel business, you can build your financial freedom from a dream to a reality.

Business is facing uncertain times, not just in the UK, but globally. Business travel has always been a feature of working life for many employees, but with budgets tight companies are looking for ways to cut costs. However, the very nature of many businesses means that employees are still required to spend days, sometimes weeks and months away from home. Finding the right balance between cost and comfort has led to new developments in the hospitality industry in the last few years. This has included the rise of the serviced apartment as an alternative to hotel accommodation.

Growth and Location

Two cities in the UK that continue to see a level of growth in business as well as population are the South Midlands cities of Northampton and Milton Keynes. Both cities are logistically well placed – close to the capital with access to major communications routes throughout the UK. Milton Keynes was established in the 1960s with two specific aims: to alleviate overcrowding in London and to become a regional centre in its own right. Northampton is an older city that has grown as a result of its logistically strategic location and relatively competitive housing costs. Milton Keynes is now well established as a major centre for business and a destination for businesses travelers from throughout the UK, not to mention the rest of the world.

Long and short stays

Individual requirements for accommodation in Milton Keynes or Northampton depend on the length of stay. For business travelers requiring accommodation in either city from a night to more than a week, the serviced apartment provides a competitively priced alternative to hotel accommodation. For those finding their companies making a permanent move to the city, serviced apartments in Milton Keynes provide the perfect ‘stepping stone’ when relocating. The majority of apartments in Northampton and Milton Keynes are centrally located with easy access to the main transport links and business districts. Serviced apartments offer not only privacy and flexibility, but also zero house-cleaning worries. Including weekly maid services, laundry services and all you would expect from a boutique hotel, there is a range of accommodation in Milton Keynes available at prices that are highly competitive with terms that can range from a few days to months.

Relocating resource

A realistic alternative to the real estate rentals for those in the process of relocating to Milton Keynes or Northampton, apartment accommodation can be found that provides space for individuals or whole families. With the uncertainty in the housing market, the flexibility of a serviced apartment is one of the key factors that make them so attractive to this particular market. When the sale of a previous home goes through it pays to be able to move quickly on a new one, but if this is not possible, a serviced apartment can be retained for a longer period. Whether it is for short term business travel or part of a relocation strategy, the serviced apartment is set to become the favoured form of accommodation for business travelers around the world.

As a general rule, travel expenses are deductible as a business expense as long as the expense is considered by the IRS to be an ordinary and necessary business expense under (IRC section 162). But when you incur a travel expense outside the United States, that is when the rules begin to change. Do not assume that 100% of your foreign travel expenses are tax deductible. And better yet, consult with your CPA during the planning phase of your foreign travel in order to maximize your opportunity for a tax deduction.

General Rules Regarding Travel Expenses:
Travel expenses traditionally includes the following categories of expenses associated with at least one overnight stay (i.e. where sleep is required while away from home):
1. Transportation Costs – Transportation includes airplane, train, bus, car, or ship between your home and business destination. It also includes commuter bus, taxi and limousine transportation.
2. Baggage and Shipping Costs- This category includes the cost of sending baggage, samples, display materials between regular and temporary work locations.
3. Lodging Costs – Such costs include overnight hotel stays and temporary housing costs.
4. Meals – Allowable meals expenses include food, beverage, tips and tax. If the meals qualify for a tax deduction they may be 50% or 100% deductible. Meals between employees/employers are generally not deductible unless a business purpose can be substantiated. In cases in which there is a business purpose, the meal is eligible for a 50% tax deduction. Meals also include customer-related meals in which business is discussed (50% deduction). Also allowed are meals related to business-related travel that includes an overnight stay (50% deductible.If the overnight travel is related to an employer-sponsored social or recreational event the meals are 100% deductible. If the meal is related to promotional activities that are made available by the business to the public such costs are 100% deductible.
5. Cleaning – This category includes dry cleaning and laundry expenses incurred during your travel period.
6. Telephone – Business calls, fax costs or other communication costs associated with the business travel are deductible.
7. Tips paid for any travel expense category are allowed as a tax deduction
8. Other – Other costs related to the business travel might include internet fees, computer rental fees, equipment rental fees, supplies etc.

Travel expenses must be temporary in nature. What this means is that the travel period cannot last more than one year. If the travel lasts more than one year all of the travel expenses become non-deductible.

Special Rules:
1. Conventions – In order for travel costs associated with a convention to be tax deductible, such costs must be directly related to your company’s business and must benefit your company’s business. Conventions outside North America are allowed, however, there is reasonableness test that must be met. Reasonableness is based on the purpose of the meeting, activities taking place at the meeting, activities of any sponsors, homes of sponsors and other material facts and circumstances that the IRS will consider in determining eligibility for the tax deduction.
2. Cruise Ship Conventions – If the convention meets the ordinary and necessary business purpose test and the reasonableness test then the IRS will permit a tax deduction equal to $2,000 per person, per year for travel expenses incurred in connection with the cruise ship convention as long as the ship is a U.S. flagship and all ports of call are located within the United States or its possessions. In order to deduct cruise ship convention travel expenses the business must attach two written statements to their tax return. Statement #1 must be signed by the business owner. This statement specifies the number of hours each day that were devoted to business activities, total days of the trip and the program of business activities on the ship. Statement #2 must be signed by an officer of the cruise ship convention organization and provide detailed schedules of the meetings and the number of hours the taxpayer attended.
3. Travel Outside the United States – Only costs associated with the days in which business was conducted are allowed as a travel tax deduction. Business days include days spent traveling to and from the business destination. Days spent on non-business activities are not counted as business days. Weekends and holidays are considered business days if they fall between the business days. Where part of the foreign travel includes non-business days, travel costs must be prorated by dividing the number of business days by the number of total days. This percentage is then applied to the total travel costs in arriving at the tax deductible travel expense deduction.
4. Non-Convention Cruise Ship Travel – The travel deduction allowed for this type of travel is determined by the IRS every year, so it changes every year. IRS publication 463 lists the daily deductible amounts allowed(called per diem rates). You multiply the per diem rate by the number of travel days in arriving at your tax deductible travel expense amount. If meals are a separate charge you are allowed to deduct 50% of the meal costs in addition to the per diem amount.