Light it on fire..and use it to cook the food?

Okay, snarky answer...it's okay in a chili, or a taco mix.

First, try to use a plain TVP (sometimes called TSP) without flavorings or color, in granules. You can soak it in a flavored/seasoned liquid (like broth with herbs or miso). Suggested ratio is 2 c dry TVP to 3 c liquid. If you are putting it into soup, it can be added dry or presoaked -- just account for extra liquid either way. I use it to make a Sloppy Joe with sauteed onions and peppers, seasonings and tomatoes.