travel expense

travel expense
A deduction in calculation of income tax purposes, when incurred while traveling away from home in pursuit of a trade or business. Internal Revenue Code § 162(a). A deduction in calculation of income for tax purposes, when incurred while traveling away from home for the production or collection of income, or the management, conservation, or maintenance of property held for the production of income, or in connection with the determination, collection, or refund of any tax. Internal Revenue Code § 212. See mileage; travel pay.

Ballentine's law dictionary. . 1998.

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  • travel expense — ➔ expense * * * travel expense UK US noun [C, usually plural] (US also traveling expense, UK also travelling expense) ACCOUNTING ► one of the costs for flights, hotels, meals, etc. for an organization’s employees when they travel on business: » …   Financial and business terms

  • travel expense — noun (frequently plural) expenses incurred by an employee in the performance of the job and usually reimbursed by the employer • Usage Domain: ↑plural, ↑plural form • Hypernyms: ↑expense …   Useful english dictionary

  • expense — ex‧pense [ɪkˈspens] noun 1. [countable, uncountable] ACCOUNTING an amount of money that a business or organization has to spend on something: • Most advertisers look upon advertising as an expense and not an investment, which is a mistake. • The… …   Financial and business terms

  • travel pay — An allowance for travel expense especially where made to persons in the armed forces. 36 Am J1st Mil § 80. See travel expense; mileage …   Ballentine's law dictionary

  • Expense management — The system and/or systems deployed by a business to process, pay, and audit employee initiated expenses. These costs include, but are not limited to, expenses incurred for travel and entertainment. Expense management includes the policies and… …   Wikipedia

  • expense — noun 1 cost/money spent on sth ADJECTIVE ▪ considerable, enormous, great, huge, significant, vast ▪ added, additional, extra …   Collocations dictionary

  • expense — ex|pense W2S3 [ıkˈspens] n 1.) [U and C] the amount of money that you spend on something legal/medical/living/travel etc expenses (=the money that you spend for a particular purpose) ▪ He borrowed £150,000 and used the money for legal expenses.… …   Dictionary of contemporary English

  • Expense — Expenses redirects here. For the row about members expenses in the UK Parliament which started about May 2009, see United Kingdom Parliamentary expenses scandal. Accountancy Key concepts Accountant · Accounting period ·… …   Wikipedia

  • expense account — noun an account to which salespersons or executives can charge travel and entertainment expenses (Freq. 1) • Syn: ↑travel and entertainment account • Hypernyms: ↑account, ↑accounting, ↑account statement * * * noun, pl ⋯ accounts [count] …   Useful english dictionary

  • expense — /Ik spens/ noun (C, U) 1 the amount of money that you have to spend on something: household/medical/living etc expenses (=the money that you spend for a particular purpose): The students share all the household expenses. | go to great expense… …   Longman dictionary of contemporary English

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