Expenses incurred when a person attends a business-related convention. For example, if a dentist travels to another location to attend an American Dental Association meeting, lodging, meals, and transportation costs usually count as convention expenses. One may deduct convention expenses from one's taxable income, provided they are, in fact, directly related to business. For this reason, convention expenses are somewhat controversial; some companies, for example, book a business meeting at a major resort and then deduct the entire cost. Whether or not this is an actual convention expense is a source of debate.
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Travel expenses incurred in attending a convention are deductible if the meetings are related to a taxpayer's trade or business or job-related activities. If, however, the convention trip is primarily for pleasure or for investment purposes, no deduction for travel expenses is permitted. Limitations may apply to foreign convention expenses.
Copyright © 2008 H&R Block. All Rights Reserved. Reproduced with permission from H&R Block Glossary