BoardConverting Serving the North American Corrugated and Folding Carton Industries for 38 years June 13, 2022 VOL. 38. NO. 24
An Update On Tax Deductions For TAPPI/AICC CorrWeek 2022 BY PHILLIP M. PERRY If you attend trade shows on a regular basis, you’ve probably noticed that travel costs keep going up. Sending several people to an event can result in a serious hit to your bottom line. Luckily, Uncle Sam allows you to soften the financial blow by de- ducting your travel expenses on your income tax return for any legiti- mate show. And what qualifies as legitimate? The answer is basically that the event must relate directly to your business.
Jim Curley, Former Editor In Chief Of BCN, Dies at 78 Jim Curley, the first Editor in Chief of Board Converting News when it was founded by Ted Vilardi in 1985, passed away on Monday, June 6, in Ship Bottom, NJ, at age 78. A corrugat- ed industry icon who possessed a depth of knowledge and an ability to communicate ri- valed by few others, Curley reported on news and association events on a weekly basis until his retirement in 2012 after 27 years. James Michael Curley was born May 2, 1944, in Tenafly, NJ, the son of Hugh and Mary Curley. He graduated from Bergen Catholic High School, received a BA from Boston Col- lege and an MA from Fairleigh Dickinson Uni- versity. For nearly three decades, he was the Operations Manager for NV Business Publish- ers Corporation, where his chief duty was the publication of Board Converting News . Jim loved his hometown of Ship Bottom at the New Jersey shore, where he served as a member of the LBI (Long Beach Island) Li- brary Board and as a freelance writer, he was a frequent contributor to The Sand Paper. He was proud of his Irish heritage and was a longstanding member and president of the Amergael club of Stafford Township.
“As long as you are expecting to generate business from the trade show, then expenses for attending are legitimate deductions,” says Richard R. Rhodes, an enrolled agent with Hinckley Tax Service, Medi- na, Ohio ( hinckleytaxservice.com ). “Even if you do not generate reve- nue directly from the event, you might be anticipating doing business in the future with someone you have networked with.” Supporting Material You can take specific steps to establish that your trip is a legitimate one for tax purposes. “The IRS wants to know the intent behind your travel,” says Suzette Flemming, President of Flemming Business Ser- vices, a financial management company based in Great Falls, MT (flem- mingbusinessservices.com). “Take notes that support the business na- ture of your trip. Whom did you see? What subjects did you discuss? How did activities during your trip support your operations?” Retain any materials such as show badges or seminar workbooks that help prove you were actually at the event, says Flemming. Oth- CONTINUED ON PAGE 24
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WHAT’S INSIDE 5 Domtar On Track To Complete Conversion Project In TN 8 ICPF Announces NY Weekend To Include Matinee To See MJ 10 ISM: Manufacturing, Economy Continued Expansion In May 12 Latest AICC Podcast Feautures Fosber’s President Jeff PalliniPage 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 20 Page 21 Page 22 Page 23 Page 24 Page 25 Page 26 Page 27 Page 28 Page 29 Page 30 Page 31 Page 32 Page 33 Page 34 Page 35 Page 36 Page 37 Page 38 Page 39 Page 40 Page 41 Page 42 Page 43 Page 44 Page 45 Page 46 Page 47 Page 48
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