Code Section 162—Business deductions—travel and meals and entertainment expenses—substantiation.
Adjunct business professor/owner of 2 consulting businesses was denied deductions for 1 business's travel and meals and entertainment expenses: taxpayer didn't provide receipts; credit card statements that he offered didn't show name or account number; and he didn't record meals on his calendar or keep receipts for any meals under $75, and instead offered only self-generated spreadsheets or other unsubstantiating documents. Also, his testimony was inconsistent and otherwise unpersuasive when considering he was claiming to have been on different business trips at same time and admitted to claiming meal expense deductions both by specific items and at per diem rates without showing he didn't duplicate expenses. Moreover, he didn't explain how expenses claimed for this business were distinguishable from those already allowed for his other business. (John H. Besaw v. Commissioner, (2015) TC Memo 2015-233, 2015 RIA TC Memo ¶2015-233 )
Code Section 274—Business deductions—wage expenses—substantiation—business purpose.