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.
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.
The American Express 1992-93 survey of Business Travel Management is the sixth biennial edition of the most comprehensive survey of Corporate America's travel and entertainment expense management.
Concur's solutions include Concur Expense and Concur Expense Service for travel and entertainment expense management and Concur Payment for managing employee requests 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.
Remedy(R) Corporation (Nasdaq:RMDY), the world's leading provider of eCRM and eBusiness infrastructure solutions, and Necho Systems Corporation(R), a leading provider of Web-based enterprise-wide travel and expense processing applications, today announced a strategic alliance to integrate Necho's automated Travel and Entertainment Expense (T&E) solution with Remedy's eProcurement solution.
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