Investopedia

Continue to Site »

Lodging Expenses

Filed Under »
Dictionary Says

Definition of 'Lodging Expenses'

Costs for an overnight stay, usually in a hotel, that may be taken as a federal income tax deduction if the Internal Revenue Service's criteria are met. Lodging expenses are usually a business expense that is incurred when someone must travel away from their tax home to do business. The IRS does not set a standard amount that can be deducted for lodging expenses, however several criteria must be met for the expense to be tax deductible.
Investopedia Says

Investopedia explains 'Lodging Expenses'

The IRS also allows individuals to deduct lodging expenses from their income when the lodging expenses are incurred as a moving expense. The IRS says the expenses must be reasonable for the circumstances of the move. Any lodging expenses that are not on the shortest route from the taxpayer's old home to his new home, for example, because he decided to take a detour for sightseeing, would not be tax deductible because these are not really moving expenses.

Articles Of Interest

  1.

    Tax Credit For Plan Expenses Incurred By Small Businesses

    Determine whether your business is eligible to claim a tax credit for establishing a retirement plan.

  2. Deducting Your Donations

    Generosity may be its own reward, but some charitable giving also provides personal tax benefits.

  3. Cut Your Tax Bill

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

  4. $1 Salaried CEOs Making Millions

    Some CEOs who are paid $1 annually are actually among the highest-paid when all forms of compensation are taken into account.

  5. 6 Ways To Avoid Paying For Hotel Wi-Fi

    Use these tips to get free Internet access when you're on vacation.

  6. 5 Ways You Can Get Paid To Travel

    Whether it's being a travel writer or teaching English overseas, there are many ways you can make a living traveling the world.

  7. Best Credit Cards For Travel Deals

    A wide range of rewards credit cards are available for consumers to use toward airfare, hotel bills, rental cars and more.

  8. How Inflation Has Affected Transportation Prices

    Getting around today is less expensive than it was 10 years ago, and this downtrend shows no signs of stopping.

  9. What You Need To Know About Airline Baggage Fees

    It might surprise you just how much airlines are charging for additional baggage.

  10. The Basics Of Travel Insurance

    Before going on your trip, find out what kind of insurance coverage you will need.
comments powered by Disqus
Marketplace
Hot Definitions

  1. Pattern Day Trader

    An SEC designation for traders who trade the same security four or more times per day (buys and sells) over a five-day period, and for whom same-day trades make up at least 6% of their activity for that period.

  2. Cost-Push Inflation

    A phenomenon in which the general price levels rise (inflation) due to increases in the cost of wages and raw materials.

  3. Happiness Economics

    The formal academic study of the relationship between individual satisfaction and economic issues, such as employment and wealth.

  4. Affluenza

    A social condition arising from the desire to be more wealthy, successful or to "keep up with the Joneses." Affluenza is symptomatic of a culture that holds up financial success as one of the highest achievements.

  5. Icarus Factor

    The term Icarus factor describes a situation where managers or executives initiate an overly ambitious project which then fails. Fueled by excitement for the project, the executives are unable to reign in their misguided enthusiasm before it is too late to avoid the failure.

  6. Angelina Jolie Stock Index

    An index made up of a selection of stocks from companies associated with actress Angela Jolie.
Trading Center