Travel Expenses

M. Casey Murdock

Chapter Chapter 18 in TAX INSIGHT, 2014, pp 207-221 from Springer

Abstract: Abstract Business travel expenses can add up to a significant amount of money. They can prove to be a great deduction when used correctly. In fact, there are even opportunities to deduct a larger amount than you actually spend. These deductions are very popular among businesses, and are often abused. The IRS is aware of this abuse and has put very strict rules and guidelines in place that govern which expenses are deductible, to what extent, and what records need to be kept. They are also very inclined to audit travel expenses that have an appearance of abuse. Even so, certain businesses will gain a lot from understanding how these deductions work and taking advantage of them on their returns.

Keywords: Travel Expense; Cruise Ship; Business Purpose; Business Driving; Standard Mileage (search for similar items in EconPapers)
Date: 2014
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DOI: 10.1007/978-1-4842-0629-4_18

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