Sunya,

It's July 2023, and we are in the thick of high season travel!

Some of you may know that I was recently held hostage in the Charlotte-Douglas airport due to flight delays by United Airlines. Well, I wasn't really a hostage, but I was stuck in Charlotte for two days due to the cancellation of hundreds of flights. To add insult to injury, my baggage didn't arrive with me in Chicago. It took an ADDITIONAL week or more for me to be reunited with my luggage-but that's another story...or a YouTube video!  Despite all the headaches and hiccups- I love travel, and all the extra benefits that come with travel as a business owner.

Did you know that travel can provide several tax benefits for business owners such as deducting expenses related to transportation, lodging, meals, and even one's baggage fees?

These deductions can significantly reduce a business owner's tax liability, making travel a financially smart decision! In addition to the tax benefits, travel also provides opportunities for networking, expanding business operations, and gaining new perspectives. For example,  after two years of being on her waiting list- I finally met my new future coach recently in Atlanta at a business conference. I also met with my financial mentors, purchased several self-help books for my business, had a meeting with two business partners in person- and learned tips to increase and improve my social media game. In addition to Atlanta- Miami, Charlotte, Chicago, and El Paso are on my schedule between now and the first of August and I have business meetings in every city except Miami. Will I find some down time/vacation time as well? You bet I will!

  I will transform most of the business expenses as well as the financial outlays from the trip delays into tax deductions at the end of the year allowing me to reduce my taxable income and save thousands of dollars in taxes for 2023.  I believe women, and Black women, in particular, should take advantage of these benefits as we are often underrepresented in some areas of business and often face unique financial challenges. Travel, as I have learned, can help us find new opportunities, and break down barriers. Overall, travel can provide both financial and personal benefits for business owners, even home-based business owners- and I firmly believe women should make it a priority to take advantage of both. 

To summarize, as a business owner, there are several financial benefits to traveling for your business. Traveling allows us to expand our network and establish new business relationships, which can lead to increased revenue and growth opportunities. Additionally, traveling can provide valuable insights into new markets and industry trends, allowing us to stay ahead of the competition. By meeting with clients and attending industry events, we can also strengthen existing relationships and increase customer loyalty.

While traveling for business we can make sure we have some vacation or down time- after all, we need rest, right? I follow the IRS guidelines and utilize them to legally travel the world, have some down time/fun time to explore what my destinations have to offer-and I write off most of my expenses. It's absolutely legal to find rest and fun time during your business travel.

I repeat- travel expenses are tax-deductible, providing additional financial benefits to business owners who travel for business purposes. Essentially, I am traveling as a business owner for free! 

Join my travel club-

Learn how you too, can maximize travel for the benefits I've discussed, get travel tips, and save on travel. Reach out to me here: https://seesunya.myecon.net/elevation-travel-lp/ or here if you have any questions:  sunyafolayan@seesunya.online. I'll send you a link on how to save lots of money on lodging, cruises, and excursions, and I'll even share some of my travel discount points with you- just because you asked.  :)

Sunya Folayan

"Don't live the same year 75 times and call it life". 

                                                 Robin Sharma

A little about me:  I enjoy helping people- especially women who are thinking about their retirement years, and who want to increase their cashflow and build a better financial foundation so they can live more intentional lives of freedom, rest, travel, and ease. Moreover, I center much of my content to reflect the voices and concerns of Black Women so we can work on some of the historical disparities around asset building in our communities.  As a Certified Financial Social Worker, I am also a member of and ambassador for the Professional Financial Wellness Community. I have two adult children, two grandchildren,  two sisters, and a large extended family. As a creative practitioner, (textile artist and musician), I am figuring out how to integrate all my passions into my life in Mexico where I reside most of the year. You can find me on social media platforms as Mind and Manna (Fb, IG, Tik Tok and YouTube) and Sunfolayan (Fb and IG).