So, for example, if you have an expense that includes both entertainment and transportation, you must allocate that expense between the two.

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One often overlooked shopping expense is transportation.

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Perks that are commonly negotiated include vacation days, telecommuting, gym memberships, dry cleaning costs, child care, transportation expenses, professional society dues, education expense reimbursements, parking spots, projects, staff, and flextime.

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The second biggest expense for America's top-earners is transportation, accounting for 17% of spending.

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However, the costs that you spend on your own transportation to get your child to summer camp will not qualify as an expense for purposes of the credit.

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If your trip does not involve an overnight stay, you can still deduct the cost of transportation, but you cannot deduct the cost of meals as a travel expense.

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