Travel and Entertainment Expense Deduction

A reduction in one's taxable income based on money one spends on traveling and entertainment for business purposes. Examples include expenses for hotels and meals while traveling on business. Travel and entertainment expenses can significantly reduce one's tax liability, but they are not unlimited. For example, one cannot deduct entertainment considered "lavish." Some entertainment is only deductible at 50% of its value.

单词	travel and entertainment expense deduction
释义	Travel and Entertainment Expense Deduction Travel and Entertainment Expense Deduction A reduction in one's taxable income based on money one spends on traveling and entertainment for business purposes. Examples include expenses for hotels and meals while traveling on business. Travel and entertainment expenses can significantly reduce one's tax liability, but they are not unlimited. For example, one cannot deduct entertainment considered "lavish." Some entertainment is only deductible at 50% of its value.
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