Creating Your Travel Plans and Saving on Taxes: A Journey to Japan

I love to travel. One of my favorite things, right up there with saving money. I  didn’t think it was possible to do both, until I connected with a tax planner/ strategist. This shifted my mindset from scarcity to abundance. 

As an entrepreneur and a W2 employee, I want to share how you can incorporate business with your travel plans to save on taxes!

The Importance of Combining Business and Travel

Integrating business events into your travel plans is a fantastic way to experience new destinations while also benefiting financially. Not only do you get to explore new places, incorporate some business building activities. Attend an event, network with others, improve your skill set, while taking advantage of the tax deductions. This dual benefit can make your trips more affordable and enjoyable.

Research and Planning

When planning a trip, start by researching business events related to your field in your desired destination. For instance, we're heading to Okinawa, Japan to attend the 50th anniversary of Enagic. A company I'm a distributor for. This event provides a perfect opportunity to combine business with travel. Additionally, involving your family in business activities can further enhance the experience. I hired my future stepson, as a contractor, to take photographs of our trip, turning it into a business expense.

Documenting and Tracking Expenses

It's crucial to keep thorough documentation of all expenses related to your trip. This includes lodging, transportation, and meal costs, as these can be deductible. Using social media to share your trip, providing value and lessons learned. Aligning your trip with the purpose of your business trip. Remember, any expense that is ordinary and necessary for your business is typically deductible.

Maximizing Your Travel Itinerary

Developing the itinerary for your trip starts with your “must see and must do” list, in order to maximize your travel experience. For example, in Japan, transportation differs significantly from the US. We’re traveling from Tokyo to Okinawa, so understanding train schedules and booking flights in advance is essential. The JR Rail Pass is a great investment, covering various transportation modes, including the bullet train, which significantly reduces travel time. I used the Japan Travel - NAVITIME app to help me develop the itinerary. It helped me draft up what my trip would look like between cities using different modes of transportation. You can also share your itinerary with others. 

Budgeting and Booking Tips

Set up fare alerts and book flights at the right time to get the best prices. I learned this the hard way; I delayed booking and ended up paying more. Travel insurance is also crucial, covering not only fare costs but also providing medical coverage abroad. Comparing prices on platforms like Expedia, Cheapoair, and Priceline can help you find the best deals. I developed a Google Sheets Travel Tracker to help me project out my expenses. I plugged in all the projected expenses so I knew how much to budget each month to prepare for the trip. 

Communication and Connectivity

Staying connected is vital, especially when traveling internationally. In Japan, we’re using a pocket Wi-Fi device that supports multiple users and a SIM card for my stepson. This ensures we stay connected and can communicate effectively. Google Maps are excellent for navigating the transportation system and planning your itinerary.

Accommodation Strategies

Choosing accommodations close to transport hubs can save time and money. Booking.com allows you to reserve without immediate payment, helping manage costs effectively. Ensure your hotel is near a main train station or airport to facilitate easy travel.

Creating a Flexible Itinerary

Balance your itinerary with active and rest days to avoid exhaustion. We planned an extra day to adjust for jet lag, followed by travel to Osaka and Okinawa. Incorporating rest days ensures you enjoy your trip without feeling rushed.

Local Tips and Cultural Insights

Understanding local customs is essential. In Japan, conservative clothing is recommended, especially for women. Packing appropriately for the weather, including rainy conditions, is also important. Learning basic Japanese phrases and adhering to local etiquette, like being quiet on public transportation, can enhance your experience.

Conclusion

Combining business with travel offers unique opportunities to explore new places while benefiting financially. By planning carefully, documenting expenses, and understanding local customs, you can create a memorable and cost-effective trip. Stay tuned for more updates and tips from our Japan travel series.

Until next time, happy travels!

Download this tracker to calculate the cost of your trip.

Travel Tracker Template.xlsx

Download XLSX • 958KB