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2 Copyright Â© 2014 Deloitte Development LLC. All rights reserved Agenda Tax Deductibility of Travel, Meals and Entertainment ExpensesDocumentation RequirementsPotential for Income Inclusion with Regard to EmployeesCurrent IRS Examination Trends Q&A.
You can deduct meals, lodging, transportation and any other incidental expenses, such as cab fare, that you incurred during business trips. You can deduct only 50% of the cost of your meals. However, if your employer gives you $10 for lunch and you spend $15, you can deduct the other $5 on your taxes.ou can deduct meals, lodging, transportation and any other incidental expenses, such as cab fare, that you incurred during business trips. You can deduct only 50% of the cost of your meals. However, if your employer gives you $10 for lunch and you spend $15, you can deduct the other $5 on your taxes.