Monday, June 25, 2012

However, if your non-industry spouse comes along for the ride,
you are facing an accounting nightmar




Maybe you are just considering getting into the travel business or 
maybe you ve taken my course and your career is well under way.
 Either way, I d like to ask the married folks among you whether
 your spouse is in the business with you. And if not, why not?
As I explain airline tickets germany to california in some detail in the Home-Based Travel Agent Success 
Course , much of a travel agent s travel is a tax-deductible business 
expense. So when you go on a fam trip or take a cruise that
features onboard seminars, the cost of that trip can be taken off 
on your tax return (with the advice airline tickets germany to california and consent of your tax 
accountant, of course). Pretty simple and straightforward.
However, if your non-industry spouse comes along for the ride,
you are facing an accounting nightmare. Before you can deduct
your own expenses, the expenses of your spouse airline tickets germany to california must be 
carefully removed. And documented! IRS rules are pretty airline tickets germany to california strict
on this point.
airline tickets germany to california But if your spouse is also a travel airline tickets germany to california agent, this problem disappears.
What s more, suppliers will almost always charge a higher airline tickets germany to california fee to
non-industry spouses on a fam trip or seminar-at-sea. If you
travel regularly on fams and I believe that you need to take at
least one or two such trips a year to stay current with what s 
going on in the industry the savings add up quickly.
There are other reasons for spouses to work together in this
 business, not all of them as easily reduced to dollars and cents
considerations, although I ll be bold enough to say that the
synergies offered by spouses working together will invariably
lead to financial rewards.
Then, too, the talents airline tickets germany to california and abilities of spouses often compliment 
one another. One might be better at customer service. One might
 have computer or Internet skills that the other lacks. airline tickets germany to california One might 
be better at negotiations with suppliers. The list could be endless.
So I d encourage you to have a heart to heart with your spouse, 
no matter where you are on your career path. You have nothing 
to lose and the rewards, both financially and psychically, can be 
considerable.
Not all spouses are meant to work together. Doing so can
 strengthen some marriages and destroy others. So proceed with 
caution. And if your spouse doesn t want to get involved, respect
 that decision. Browbeating airline tickets germany to california and guilt-tripping has never been a 
great recipe for a strong relationship.
Remember, too, that if you are both in the business you must 
both be in the business. That is, your husband can t say he s a 
travel agent unless he is actively involved in the operations of
 the home-based enterprise. This does not mean putting in 80
 hour weeks, but it does mean making an honest and
 demonstrable effort.
As I always find myself saying in situations like this, consult 
with your trusted, professional legal and financial advisers 
before making any move that might affect your legal or
 financial situation.

No comments:

Post a Comment