Business_Travel_Mistakes_122713

Are you making these business travel mistakes?

12/27/2013 2:11:33 PM

It's not easy being a business traveler. From finding an affordable hotel room to remembering to pack all the right clothing and business documents, there are plenty of opportunities for slip ups. Before you head off on a trip, consider these common mistakes made by people who leave town for work:

Not notifying your bank
Imagine this all-too-common scenario: Your debit card is denied while you're away on business because you set off your bank's anti-fraud system. If you use your card at a new destination far from home, some financial institutions will deny and disable your card to protect you from identity theft. Informing the bank in advance is a simple solution.

Forgetting to deduct expenses
When tax time comes around, remember to file every travel expense - even the small ones can really add up. If for example, you own a small company and rent cars for business travel, keep copies of your receipts and file them to boost the amount of your refund. Additionally, even if you work for a company that covers your travel costs, you may find that your per diem isn't enough. In those cases, you can often still declare the food expenses or other extraneous items.