1. Cruising, as a business expense
Aruba, Jamaica, ooh, I want to take you and write off the trip — or at least part of it. Your luxury cruise to a business convention in, say, balmy Bermuda, qualifies as a business expense within limits that vary by the time of year, the IRS says. In one example, the agency illustrates how a $5,200 trip could result in a deduction of $3,650. If the convention is on the ship, you can only deduct up to $2,000.