Test Your Tax IQ: Tax-Deductible Cruise Ship Travel
All the effort Ty Tannick has spent chasing prospective billionaire client Lou Sitania is about to pay off.
Lou, the prospect, has a winter home on St. Thomas in the U.S. Virgin Islands. He is ready to do his financial plan and make some big adjustments in his investment portfolio, but he’s not willing to travel to Boston in February.
Ty, the financial planner, sees this as an opportunity to leave chilly Boston and travel to sunny St. Thomas during mid-February. He considers traveling by airplane, but the bad weather in Boston makes cruise ship travel his choice, so he books a five-day, four-night cruise to St. Thomas.
When he arrives in St. Thomas, Ty stays in a hotel and meets with Lou, the prospect, for two days to complete the financial plan before returning to ... Log in to view full article.
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