Basics
What Is a Business Trip?
A business trip is defined as travel undertaken for business purposes that serves the company's interests. Company members (shareholders and board members), employees and contractors can go on business trips, though contractors are not eligible for daily allowance. To qualify as a business trip, it must meet the following criteria: There is a clear business purpose behind the trip. The trip has well-defined start and end dates. It involves travel between two different countrSome readersHow Do Business Trips Work for Contractors and EOR Employees?
When registering a business trip for a contractor or an EOR employee hired through Companio Work in the Travels section of the dashboard, there are a few important rules and limitations to keep in mind. This guide explains how travel arrangements work specifically for these two profiles, and how they differ from other types of travelers such as internal employees or board members. Are Contractors and EOR Employees Entitled to a Daily Allowance? No. Neither contractorsFew readersEverything About the Daily Allowance
What Is the Daily Allowance? The Daily Allowance is a travel allowance granted to board members, shareholders, or company employees for business trips. It is paid from the corporate bank account and is tax-free. How Does the Daily Allowance Work? The Daily Allowance functions as any other work allowance for business trips. For instance, if you are a board member or employee of a design agency, and you travel to a designers' conference in San Francisco, United States, for a week, you canSome readers
Travel Expenses
Can I Claim Travel Expenses for Business Trips?
Yes, expenses incurred during a valid business trip are deductible. Here are the requisites for deducting them correctly. Flight tickets Ideally, you should send us at least the PDF document with the ticket payment confirmation that the airline sends you after purchase, including the price, and if possible, you should get an invoice in the name of the airline. business. Some airlines allow it, others do notSome readersHow to Deduct Business Travel Expenses?
Business travels are considered deductible expenses when they align with the company's objectives. Additionally, members of the company (board members, shareholders) and employees are eligible for daily allowances (not contractors, though). For instance, visiting a client in France or sending an employee from your design agency to a web design conference qualifies as deductible expenses. However, to be eligible as a business travel, it must serve a specific corporate purpose and have a reasonFew readersUnderstanding Deductible and Non-Deductible Business Trip Expenses
1. What Expenses Are Deductible on a Business Trip? Deductible business trip expenses include costs directly related to your travel such as accommodation and transport expenses (including flights). To ensure these expenses are deductible, it is essential that you obtain and retain valid invoices. Please upload these invoices under the "Purchases" section of the Companio dashboard for proper accounting and reimbursement. 2. Which Expenses Are Non-deductible and How Are They Handled? NFew readersWhat Expenses Cannot Be Added as Travel Expenses for Business Trips?
When it comes to business trips, certain expenses cannot be classified as travel expenses or deducted for tax purposes. These are typically personal or non-business-related expenses. Below are some examples: Personal Expenses: Leisure Activities: Costs related to personal leisure activities, such as sightseeing tours, personal entertainment, or expenses for family members accompanying the traveler. Personal Shopping: Any non-business-related purchases made during the trip.Few readers