- Form 2106: Employee Business Expenses
- A tax form distributed by the Internal Revenue Service (IRS) and used by taxpayers seeking to deduct expenses incurred while conducting business. In order for business expenses to be deducted, they must be considered ordinary and necessary. Ordinary expenses are commonly accepted in the industry; necessary expenses are those that are considered helpful and useful.
In order for an expense to be considered business-related, the taxpayer must furnish receipts indicating that the expenses were indeed incurred in order to conduct business. Travel expenses, including meals, entertainment and transportation, need to be represented in a receipt.
Investment dictionary. Academic. 2012.
Look at other dictionaries:
Form 2106-EZ: Unreimbursed Employee Business Expenses — A tax form distributed by the Internal Revenue Service (IRS) and used by employees deducting ordinary and necessary expenses related to their jobs. Ordinary expenses are those generally considered as common in a particular line of business;… … Investment dictionary
Tax deduction — This article is about the deduction of expenses for the purpose of calculating taxable income. For tax deducted at source, see Withholding tax. Taxation An aspect of fiscal policy … Wikipedia
Debit card — Personal finance Credit and debt Pawnbroker Student loan Employment contract Salary Wage Empl … Wikipedia