Travel Expenses(redirected from T&E)
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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.
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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.
Copyright © 2008 H&R Block. All Rights Reserved. Reproduced with permission from H&R Block Glossary