Primary Business Purpose

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Dictionary Says

Definition of 'Primary Business Purpose'

A phrase denoting that the main intent of traveling out of town was to transact business. This trip may be combined with pleasure, but the primary purpose of the trip must be for business. If the business element of the trip were removed, the trip would not be taken.

Investopedia Says

Investopedia explains 'Primary Business Purpose'

As long as the primary business purpose can be proven, the taxpayer may deduct all transportation and lodging costs, as well as 50% of meal expenses. This can be done even though part of the trip is for pleasure. However, if the main purpose of the trip is pleasure, then no expenses of any kind are deductible. Generally, the amount of time spent pursuing business versus pleasure activities is the determining factor in establishing primary business purpose. Keeping a log to document business activities is usually acceptable proof of business purpose in the event of an audit by the IRS. 
Search results for

'Primary Business Purpose'

  • Business Plan: Introduction | Investopedia

    http://www.investopedia.com/university/business-plan
    ... By Amy Fontinelle The purpose of a business ... If you are already up and running but
    don't yet have a business plan, your primary motivation for preparing one ...

  • Business Plan: Introduction | Investopedia

    http://www.investopedia.com/university/business-plan/default.asp
    ... By Amy Fontinelle The purpose of a business ... If you are already up and running but
    don't yet have a business plan, your primary motivation for preparing one ...

  • Business Plan: Introduction | Investopedia

    http://www.investopedia.com/university/business-plan/
    ... By Amy Fontinelle The purpose of a business ... If you are already up and running but
    don't yet have a business plan, your primary motivation for preparing one ...

  • If you have a house that is under your company name and you want ...

    http://www.investopedia.com/ask/answers/12/capital-gains-taxes-home-sales.asp
    ... if the house were used for a business purpose, but that ... respect to a house owned
    by a business is the ... individuals who own a home as their primary residence to ...

  • The New Mortgage Business: More Than Just Loans

    http://www.investopedia.com/articles/mortgages-real-estate/09/new-mortgage-business-loss-mitigation.asp
    ... broker and their originators, for the purpose of helping ... important source of information
    for finding primary clients ... Also, referral business will take on a new ...

  • E*Trade Stock Not For Babies

    http://stocks.investopedia.com/stock-analysis/2009/ETrade-Stock-Not-For-Babies-ETFC0325.aspx
    ... A Bank's Financial Statements.) Primary Business Healthy E ... chaos is more indicative
    BOA's business practices and ... Investment banks served this purpose even more ...

  • Vacation Home Or Income-Producing Investment?

    http://www.investopedia.com/articles/pf/07/vacation_home.asp
    ... homes that have been converted to a primary residence ... If you own a second home for
    the purpose of renting ... and the application of analytics to the business world ...

  • Business Plan: Describing Your Business | Investopedia

    http://www.investopedia.com/university/business-plan/business-plan2.asp
    ... which should describe your company's purpose, values and ... secondary sources and by
    primary research your ... Next: Business Plan: Composing Your Executive Summary ...

  • Quiksilver And Liz Claiborne: Strangely Similar

    http://stocks.investopedia.com/stock-analysis/2010/Quiksilver-And-Liz-Claiborne-Strangely-Similar-ZQK-LIZ-ZUMZ-DKS-JCP0310.aspx
    ... Quiksilver distributes its three primary brands wholesale to customers, like Zumiez ...
    company bigger but doing little to project a business with purpose. ...

  • Starting A Small Business: Making The Leap | Investopedia

    http://www.investopedia.com/university/small-business/transition-from-work-to-self-employed.asp
    ... that you will be funding yourself, the purpose of a ... What makes me qualified to run
    this business? ... Who are my primary and secondary target customers/clients? ...

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