Can you capitalize travel expenses such as meals transportation and parking?

No, you cannot capitalize travel expenses such as meals, transportation, and parking. These expenses are considered ordinary business expenses and are deductible as such. You cannot capitalize them because they do not meet the requirements for capitalization, which are that the expenses must:

* Be incurred during the construction, acquisition, or improvement of an asset.

* Increase the value or prolong the life of the asset.

* Have a useful life of more than one year.

Travel expenses do not meet any of these requirements. They are not incurred during the construction, acquisition, or improvement of an asset. They do not increase the value or prolong the life of an asset. And they have a useful life of less than one year. Therefore, you cannot capitalize them.