Business Travel
MEETINGS, CONFERENCE & SEMINARS AT SEA
NCL America's US-Flagged Fleet
Offer Unique Opportunity for Tax Deductible* Meetings
Tax Comparisons: Q & A
Q: What is the benefit of having a meeting on a US-flagged cruise ship versus a foreign-flagged cruise ship?
A: The cost of meetings held aboard US-flagged cruise ships can be fully deductible for tax purposes while meetings held aboard foreign-flagged cruise ships do not qualify for either personal or corporate tax deduction.
Q: How does the IRS determine if a meeting can be written off at a US hotel or US-flagged ship?
A: Main purpose must be business.
Q: What constitutes a meeting for tax purposes?
A: The meeting, seminar or convention must be primarily for "business purposes" in order for your client to be able to claim any tax deduction. This would apply for Corporate as well as Association meetings. Please advise your client(s) to consult their tax advisor for travel expense deductibility requirements and limitations.
Q: What does the IRS mean by "business purpose" of meeting (listed in question above)?
A: The meeting must be directly related to the participant's trade or business. If the meeting, seminar or convention is for any other purpose (ie. investment, political, social) these expenses may not be deducted.
Q: Are the costs associated with a spouse or companion deductible as part of the meeting cost for Pride of America or Pride of Aloha or a US Hotel?
A: No, participants only.
Q: Does the $2,000 maximum deduction per participant per year vary based on the cruise length?
A: No, the maximum deduction per participant per year is $2,000 regardless of cruise length.
*This data is being provided for information purposes only and should not be regarded as tax or legal advise for your reliance. Please consult your tax advisor regarding your specific situation.
**All NCL cruise fares are based on double occupancy. Therefore, for tax purposes the single rate occupancy rate (200% of per person rate) is deductible regardless of single or double occupancy.
NCL America's US-Flagged Fleet
Offer Unique Opportunity for Tax Deductible* Meetings
Tax Comparisons: Q & A
Q: What is the benefit of having a meeting on a US-flagged cruise ship versus a foreign-flagged cruise ship?
A: The cost of meetings held aboard US-flagged cruise ships can be fully deductible for tax purposes while meetings held aboard foreign-flagged cruise ships do not qualify for either personal or corporate tax deduction.
Q: How does the IRS determine if a meeting can be written off at a US hotel or US-flagged ship?
A: Main purpose must be business.
Q: What constitutes a meeting for tax purposes?
A: The meeting, seminar or convention must be primarily for "business purposes" in order for your client to be able to claim any tax deduction. This would apply for Corporate as well as Association meetings. Please advise your client(s) to consult their tax advisor for travel expense deductibility requirements and limitations.
Q: What does the IRS mean by "business purpose" of meeting (listed in question above)?
A: The meeting must be directly related to the participant's trade or business. If the meeting, seminar or convention is for any other purpose (ie. investment, political, social) these expenses may not be deducted.
Q: Are the costs associated with a spouse or companion deductible as part of the meeting cost for Pride of America or Pride of Aloha or a US Hotel?
A: No, participants only.
Q: Does the $2,000 maximum deduction per participant per year vary based on the cruise length?
A: No, the maximum deduction per participant per year is $2,000 regardless of cruise length.
*This data is being provided for information purposes only and should not be regarded as tax or legal advise for your reliance. Please consult your tax advisor regarding your specific situation.
**All NCL cruise fares are based on double occupancy. Therefore, for tax purposes the single rate occupancy rate (200% of per person rate) is deductible regardless of single or double occupancy.
