travel and entertainment expense

travel and entertainment expense definition - finance
A business expense that can be deducted from revenues that a business or sole proprietor earns for the purpose of calculating income tax. Unlike other business expenses, only 50 percent of travel and entertainment expenditures can be deducted from income taxes.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

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