Travel and entertainment expense

Travel and entertainment expense

Funds spent on business travel and entertainment that qualify for a tax deduction of 50% of the amount claimed.

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.
References in periodicals archive ?
The result is a compact but thorough guide to developing a well-run travel and entertainment expense process.
Concur Expense is designed to automate the travel and entertainment expense management process, from expense report preparation and approval to policy compliance, reimbursement and data analysis.
162(m) limits on deductions for executive compensation, cases involving voluntary employees' benefit association (VEBA) and deferred compensation deductions, IRS guidance relating to travel and entertainment expense deductions, developments under the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) regulations and the new "Nanny" tax provisions.
Concur's solutions include Concur Expense and Concur Expense Service for travel and entertainment expense management and Concur Payment for managing employee request for vendor payments.
Developed and powered by Concur, AccessExpense provides customers with the world's leading Web-based travel and entertainment expense management solution.
By automating the travel and entertainment expense management process -- including prepopulation of commercial card data, expense report preparation, policy compliance, employee reimbursement and control of financial reporting -- AccessExpense ensures far greater accuracy and adherence to corporate governance requirements, such as Sarbanes-Oxley.
Gelco Expense Management today announced that Hypoguard, the diagnostic division of Medisys PLC, has selected Gelco ExpenseLink(R) expense management solution to automate and manage its processes for travel and entertainment expense reimbursement.
Gelco Expense Management today announced that Hormel Foods Corporation, a multinational manufacturer of consumer-branded meat and food products, has selected Gelco ExpenseLink(R) expense management solution to manage its processes for travel and entertainment expense reimbursement.
Concur's solutions include travel and entertainment expense management and employee request for vendor payments.
The OneMind Connect ExpensAble solution is an integrated family of products and services that can be configured to serve the travel and entertainment expense management needs of single users, small, medium and enterprise-sized businesses.
NYSE:TMN), the leading provider of transaction-based dining rewards programs, announced the introduction of a travel and entertainment expense reduction program targeting Fortune 1000 companies that issue corporate credit cards to their employees.
3) What internal controls do selected hospital systems report as having in place over the approval, payment, and monitoring of executive travel and entertainment expenses, gifts, and other perquisites?
Full browser ?