IRS Publication 463: Travel, Entertainment, Gift, And Car Expenses

AAA

DEFINITION of 'IRS Publication 463: Travel, Entertainment, Gift, And Car Expenses'

A document published by the Internal Revenue Service that provides details on which business expenses may be deducted from individual or self-employment tax obligations. Deductions for travel, entertainment, gifts or transportation-related expenses are available for items considered to be ordinary (accepted as common in a particular business) and necessary (helpful or appropriate for a particular business).




INVESTOPEDIA EXPLAINS 'IRS Publication 463: Travel, Entertainment, Gift, And Car Expenses'

IRS Publication 463 is not for corporations, partnerships, trusts or employers who reimburse their employees for business expenses. The document is for employees who were not fully reimbursed for all business-related expenses.

RELATED TERMS
  1. Form 2106-EZ: Unreimbursed Employee ...

    A tax form distributed by the Internal Revenue Service (IRS) ...
  2. IRS Publication 535 - Business ...

    A document published by the Internal Revenue Service (IRS) that ...
  3. Form 4797

    A tax form distributed by the Internal Revenue Service (IRS) ...
  4. Transportation Expenses

    An expense incurred by an employee or self-employed taxpayer ...
  5. Reimbursable Out-Of-Pocket Costs

    Cash payments that an individual or company incurs on behalf ...
  6. Business Expenses

    Any expenses incurred in the ordinary course of business. Business ...
Related Articles
  1. Downsize Your Home To Downsize Expenses
    Retirement

    Downsize Your Home To Downsize Expenses

  2. The Beauty Of Budgeting
    Budgeting

    The Beauty Of Budgeting

  3. 7 Ways To Avoid Self-Employed Tax Penalties ...
    Options & Futures

    7 Ways To Avoid Self-Employed Tax Penalties ...

  4. Surviving On An Irregular Income
    Options & Futures

    Surviving On An Irregular Income

comments powered by Disqus
Hot Definitions
  1. Last In, First Out - LIFO

    An asset-management and valuation method that assumes that assets produced or acquired last are the ones that are used, sold ...
  2. Ghosting

    An illegal practice whereby two or more market makers collectively attempt to influence and change the price of a stock. ...
  3. Elasticity

    A measure of a variable's sensitivity to a change in another variable. In economics, elasticity refers the degree to which ...
  4. Tangible Common Equity - TCE

    A measure of a company's capital, which is used to evaluate a financial institution's ability to deal with potential losses. ...
  5. Yield To Maturity (YTM)

    The rate of return anticipated on a bond if held until the maturity date. YTM is considered a long-term bond yield expressed ...
  6. Net Present Value Of Growth Opportunities - NPVGO

    A calculation of the net present value of all future cash flows involved with an additional acquisition, or potential acquisition. ...
Trading Center