Categories: Tax Planning and Strategies
Business Travel Expense Deductions refer to the allowable expenses that businesses can deduct from their taxable income related to travel for business purposes.
These expenses typically include transportation costs (such as airfare, train tickets, or mileage for personal vehicles), lodging, meals, and other travel-related fees incurred while conducting business activities away from the taxpayer’s primary location.
To qualify for deduction, the travel must be necessary and directly related to the business operations. For example, if a sales representative travels to meet clients or attend a conference, the associated costs could be deducted. However, personal travel expenses mixed with business activities may not qualify for deductions.
« Back to Glossary Index