What to Include in Your Business Travel Expenses List

travel expenses

If you’re an entrepreneur with a large range of travel, you need to know how important it is to claim back these costs.

Many people have expenses due to work travel, and you have every right to have these costs refunded. Once you know what to include, you can fill out your expense report and take advantage of your company reimbursing you.

Let’s take a look at what you need to know to create your business travel expenses list.

Non-refundable Travel Expenses

Assuming you’ve already booked your travel, there are a few other nonrefundable travel expenses to take into account when creating your business travel expense list.

Include things like your travel insurance, visa fees, and vaccinations if you’re traveling internationally. If you’re flying, don’t forget to account for any checked baggage fees. And lastly, don’t forget about those little incidentals like laundry, tipping, and internet access.

Lodging and Transportation Expenses

If you’re planning to travel for business, be sure to include lodging and transportation expenses in your budget. Depending on your destination, you may need to book a hotel room or rent a car.

You’ll also want to factor in the cost of gas, parking, and tolls. If you’re taking a train or plane, you’ll need to purchase a ticket. 

Meals and Entertainment Expenses

When preparing your business travel expenses list, be sure to include costs for meals and entertainment. This includes any business-related meals, whether you are dining with clients or colleagues. Include also any incidentals such as tips or valet service.

If you are attending any events or conferences, be sure to factor in the cost of admission. Entertainment expenses can also include tickets to shows or sporting events. This can also be green fees if you plan on playing a round of golf.

Business Supplies and Equipment Expenses

If you are planning a business trip, be sure to include business-related expenses such as business supplies and equipment. This can include items such as laptops, printers, and other office supplies.

If you are attending a business meeting or conference, you may also need to include expenses for business clothing and materials.

Miscellaneous Business Expenses

Some common miscellaneous travel expenses for business trips may include tipping fees, laundry service, valet parking, internet service, business center services, and any other unique fees associated with your specific trip or destination.

Additionally, be sure to keep track of any receipts for expenses incurred while on your trip, as many of these are tax-deductible travel expenses. This can also help you keep track of your expenses so you can easily submit a travel reimbursement claim to your employer.

Create Your Perfect Business Travel Expenses List

If you’re preparing to take a business trip, make sure to include all relevant expenses on your list. This will help you get an accurate estimate of what the trip will cost.

Don’t forget to factor in things like airfare, accommodation, transportation, and meals. Once you have a complete business travel expenses list, you can start planning and budgeting for your trip.

If you thought this article was helpful, then check out our other blogs!

You Might Also Like