What CONVENTION EXPENSES means: Travel expenses incurred in attending a convention are deductible if the meetings are related to a taxpayer's trade or business or job-related activities. If, however, the convention trip is primarily for pleasure or for investment purposes, no deduction for travel expenses is permitted. Limitations may apply to foreign convention expenses.
- Definition Cost Of Goods Sold:
- Dictionary plus direct purchases, direct labor costs, and overhead costs less withdrawals for personal use and ending inventory. Sole proprietors compute their cost of goods sold in Part III of Schedule C convention expenses definition.
- Definition Cafeteria Plan:
- Dictionary employer offers a choice of salary or specified nontaxable fringe benefits from which participating employees may select. The plan may be funded with employer contributions, employee contributions convention expenses explain.
- Definition Condemnation:
- Dictionary property by a public authority. The property is condemned as the result of legal action and the owner is compensated by the public authority. The power to condemn property is known as the right of convention expenses what is.
- Definition Cost Recovery:
- Dictionary used to refer to depreciation claimed under the ACRS or MACRS methods of depreciation. See also Accelerated Cost Recovery System (ACRS) and Modified Accelerated Cost Recovery System (MACRS convention expenses meaning.
How works Convention Expenses meaning in Tax definitions C .
