Travel & Entertainment
The most frequently asked tax questions related to Travel & Entertainment
Transportation assistance - 2013
Asked Thursday, April 05, 2012 by an anonymous userCPA Answer:
Transportation assistance. If you provide certain transportation fringe benefits, changes are afoot. The limit on the value for monthly free parking will rise to $245 (up from $240), while the limit on monthly transit passes and vanpooling will be $245 . Bicycling assistance will stay at $20 per month.
What expenses are deductable when I am away from home overnight?
Asked Monday, November 28, 2011 by an anonymous userCPA Answer:
If you travel on business away from your home you can deduct the transportation and personal costs such as food lodging and incidentals. You must be away from home for more than a day.
What is the IRS publication that explains Travel & Entertainment expenses?
Asked Monday, November 28, 2011 by an anonymous userCPA Answer:
The IRS publication that explains travel and entertainment expenses is Pub 463.
Is the costs of me driving to work deductible?
Asked Monday, November 28, 2011 by an anonymous userCPA Answer:
No. In general, costs of commuting between your home and workplace are not deductible. Costs for gas for
What is the per diem rate for incidentals?
Asked Monday, November 14, 2011 by an anonymous userCPA Answer:
You have the option of deducting the actual expenses or a allowance of $5.
Are my cell phone calls made while commuting to work deductible?
Asked Monday, November 14, 2011 by an anonymous userCPA Answer:
The IRS states that any cell phone calls made while commuting to work are not deductible.
Are my meal costs deductible?
Asked Monday, November 14, 2011 by an anonymous userCPA Answer:
To be deductible, meal costs must be incurred while away from home. The away from home test requires that the person be on a business trip that lasts longer than one business day and requires time off to sleep before returning home. Meal costs while away from home are subject to the 50% deduction limit.
Are there deductible commuting expenses?
Asked Monday, November 14, 2011 by an anonymous userCPA Answer:
The IRS allows 2 exceptions. If you are on a business trip out of town you may deduct taxi fares and other transportation costs from your hotel to your first business call and all other transportation costs between business calls. Also the additional costs of transporting tools to work are deductible.
Are my meal costs during overtime deductible?
Asked Monday, November 14, 2011 by an anonymous userCPA Answer:
These costs are not deductible if you are not away from your place of business.