Incidental Expenses

Filed Under »
Dictionary Says

Definition of 'Incidental Expenses'

Expenses including fees and tips for porters, baggage handlers and other personal service employees. These expenses are part of the "meals and incidental expenses reimbursement" rates provided by the IRS. Unreimbursed incidental expenses are deductible according to a schedule prescribed by the IRS.
Investopedia Says

Investopedia explains 'Incidental Expenses'

Incidental expenses that are incurred as a result of casualty or theft, such as emergency room treatment for injury suffered as a result of mugging, are not deductible as a casualty loss.

Also note that incidental expense rates differ by region.

Articles Of Interest

  1.

    How To Qualify For The Home-Office Tax Deduction

    Homebodies can save big on their tax bill. Learn how to get in on the action.

  2. IRA Contributions: Deductions and Tax Credits

    We outline the incentives and help you take full advantage of the benefits.

  3. Payroll Deductions Pay Off

    Find out how you can bypass or defer taxes on thousands of dollars each year.

  4. An Overview Of Itemized Deductions

    Not taking the standard deduction this year could save you hundreds of dollars.

  5. Getting A Job As The Tax Man

    If you'd like the IRS to pay you some money for a change, consider a career working in taxes.

  6. If I pay for a course to learn about trading can I write some of it off?

    There are some investing costs that can be written off each year, even if you aren't a day trader. The general rule in determining whether an investment expense is deductible is that the expense ...

  7. Which is better for tax deductions, itemization or a standard deduction?

    Each deduction that you claim may result in a decrease in the amount of taxes that you owe. However, whether you receive the maximum possible deduction could depend on whether your deduction ...

  8. What are some commonly missed deductions for business owners?

    If you own a business, you are eligible to deduct certain business-related expenses. These include deductions for the following: Home office: If you use a part of your home regularly and ...

  9. Cut Your Tax Bill

    Paying your bills early or giving an extra donation now can help you come tax time.

  10. New Tax Rules Target The Top Tax Bracket

    The American Taxpayer Relief Act brings about new tax rules for the wealthy that people such as Warren Buffett have been calling for over the last few years.
comments powered by Disqus
Marketplace
Hot Definitions

  1. Network Effect

    A phenomenon whereby a good or service becomes more valuable when more people use it. The internet is a good example...

  2. Racketeering

    Racketeering refers to criminal activity that is performed to benefit an organization such as a crime syndicate. Examples of racketeering activity include...

  3. Lawful Money

    Any form of currency issued by the United States Treasury and not the Federal Reserve System, including gold and silver coins, Treasury notes, and Treasury bonds. Lawful money stands in contrast to fiat money, to which the government assigns value although it has no intrinsic value of its own and is not backed by reserves.

  4. Fast Market Rule

    A rule in the United Kingdom that permits market makers to trade outside quoted ranges, when an exchange determines that market movements are so sharp that quotes cannot be kept current.

  5. Absorption Rate

    The rate at which available homes are sold in a specific real estate market during a given time period.

  6. Yellow Sheets

    A United States bulletin that provides updated bid and ask prices as well as other information on over-the-counter (OTC) corporate bonds...
Trading Center