Travel Expenses


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Travel Expenses

Expenses incurred when a person conducts business away from home. For example, if one must travel to another location to conduct a meeting with an important client, any lodging, meals, or transportation costs usually count as travel expenses. One may deduct travel expenses from one's taxable income, provided they are in fact directly related to business. For this reason, travel expenses are somewhat controversial; some companies, for example, book a business meeting at a major resort and deduct the entire cost. Whether this is an actual travel expense is a matter for debate.

Travel Expenses

Travel expenses include meals and lodging and transportation expenses while away from home in the pursuit of a trade or business (including that of an employee). Other travel expenses include laundry, shipping, tips, and computer rental fees.
References in periodicals archive ?
Other travel expenses must be allocated on a day-by-day basis, and only the business portion is deductible.
He was told that "mean net earnings per deputy" are approximately e1/43,800, and that travel expenses "cover their continuous transportation across the country […] and do not necessarily or exclusively relate to their needs of transportation to the House of Representatives".
He added: "Companies using the American Express Business Travel Account stand to benefit from savings on process costs related to the reconciliation of travel expenses, as well as from strengthened management control of such costs".
With a strong portfolio of more than 1,000 corporate customers in the region, I am confident the BTA will help companies achieve enhanced management control over their travel expenses as all billing is methodically archived in a centralised database.
Taxpayers are allowed a deduction for travel expenses when business requirements force them to duplicate their living expenses.
Andrew Shaw, national tax managing partner with Edgbaston-based BTG Tax, said: "We are seeing more detailed checks of travel expenses within PAYE inspections.
Jim Torrey raised the issue of travel expenses in his campaign to reclaim the office of mayor, from which he retired in 2005.
THERE seems to be no end to MPs' perks, from long holidays, index-linked pensions and second home mortgages paid along with council tax cuts and first-class travel expenses.
The House of Lords will be voting on the bill with the amendment made by MPs to make travel expenses, paid for by the tax payer, secret.
Board treasurer Jerry Fedele called that a relatively small amount, considering the total travel expenses examined.
Trustees are reimbursed for travel expenses and are not compensated for their time.

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