If you operate a business and you travel to a business location where you spend the night, you are in travel status and you need to know the rules on business and personal days.

When you have an overnight business day, you deduct your costs of sustaining life for the day, such as breakfast, lunch, dinner, snacks, drinks, lodging, and taxis.

Business days also are important in determining how much of your travel cost you may deduct. For example, on a seven-day trip to London, one business ... Log in to view full article.