<\/p>\n
As remote and hybrid work have become more common, corporate retreats have surged in recent years. Some or all of your employees may now work from home and experience little in-person interaction with coworkers. A retreat can foster collegial relationships and, ultimately, greater productivity. But the first decision you\u2019ll likely need to make is whether your retreat will be a smaller-scale affair held in your office or an off-site retreat. There are ways to make either one affordable.<\/p>\n
Your office<\/strong><\/p>\n Staying on your company\u2019s premises can keep out-of-pocket costs in check. The most obvious is that you won\u2019t need to rent meeting rooms. And, assuming employees live in the area, you won\u2019t have transportation and lodging expenses. You\u2019ll also likely spend less on food and beverages. A local restaurant can cater your meals and snacks, and you could buy beverages in\u00a0bulk.<\/p>\n On the downside, employees tend to view on-site retreats as just another day at the office. This can hamper creative thinking and team building and limit possible activities. Worse, employees may be distracted if they can frequently run back to their desks to check email and voicemail.<\/p>\n Off-site locations<\/strong><\/p>\n In general, workers are better able to focus on a retreat agenda at an off-site location. They\u2019re in a new, \u201cspecial\u201d environment with no visual cues to trigger workday routines. So, even though you\u2019ll incur greater costs than if you\u2019d stayed in your office, you may get a better return on investment.<\/p>\n The fact is, hotels and other facilities that host company retreats need and want your business! Many things may be negotiable, and you might be able to snag discounts by booking or paying early. Get several quotes and compare prices and services. You\u2019ll have more leverage if you avoid scheduling your retreat during seasonal peaks when local venues tend to be busy with weddings, trade shows and industry conferences.<\/p>\n Hotels earn their biggest margins on food, beverages and meeting setup fees, so they may be willing to provide complimentary or discounted rooms for guest speakers and out-of-town employees. Also, try to negotiate a flat food-and-beverage price for the entire retreat, rather than a per-person or per-event\u00a0rate.<\/p>\n Possible tax relief<\/strong><\/p>\n Here\u2019s another way to save: Some of your company retreat expenses may be tax-deductible. They need to meet IRS criteria as \u201cordinary and necessary\u201d business expenses and can\u2019t be extravagant or include expenditures for employees\u2019 spouses. In general, business meals are only 50% deductible, and entertainment costs are nondeductible. Contact us to learn more about tax-deductible costs and the IRS\u2019s documentation requirements.<\/p>\n \u00a9 2026<\/em><\/p>\n <\/body> As remote and hybrid work have become more common, corporate retreats have surged in recent years. Some or all of your employees may now work from home and experience little in-person interaction with coworkers. A retreat can foster collegial relationships and, ultimately, greater productivity. But the first decision you\u2019ll likely need to make is whether […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7,14,10],"tags":[8,11,12],"class_list":["post-17463","post","type-post","status-publish","format-standard","hentry","category-articles","category-business","category-news","tag-articles","tag-news","tag-updates"],"_links":{"self":[{"href":"https:\/\/www.sfw.cpa\/news-and-guides\/wp-json\/wp\/v2\/posts\/17463","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.sfw.cpa\/news-and-guides\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sfw.cpa\/news-and-guides\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sfw.cpa\/news-and-guides\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sfw.cpa\/news-and-guides\/wp-json\/wp\/v2\/comments?post=17463"}],"version-history":[{"count":1,"href":"https:\/\/www.sfw.cpa\/news-and-guides\/wp-json\/wp\/v2\/posts\/17463\/revisions"}],"predecessor-version":[{"id":17464,"href":"https:\/\/www.sfw.cpa\/news-and-guides\/wp-json\/wp\/v2\/posts\/17463\/revisions\/17464"}],"wp:attachment":[{"href":"https:\/\/www.sfw.cpa\/news-and-guides\/wp-json\/wp\/v2\/media?parent=17463"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sfw.cpa\/news-and-guides\/wp-json\/wp\/v2\/categories?post=17463"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sfw.cpa\/news-and-guides\/wp-json\/wp\/v2\/tags?post=17463"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n<\/html><\/p>\n","protected":false},"excerpt":{"rendered":"