Business Travel & Entertainment (2 hrs)

Course Description

Business Travel & Entertainment

This comprehensive mini-course examines and explains the practical aspects of business travel and entertainment deductions. To determine the expenses that taxpayers are able to deduct, fundamentals are reviewed and planning opportunities are identified. Practitioners will learn to master the proper administration of these complex and often cumbersome provisions.

Course Information

Price: $33
Course No. M220
Format: Online pdf (58 pages). Printed book available.
Prerequisites: General understanding of federal income taxation.
Advance Preparation: None
Level: Overview
CPE Credit: 2 hrs.
Field of Study: Taxes
Course expiration:  You have one year from date of purchase to complete the course.
Course Revision Date: January 2017

Objectives

Upon completion of this course you will be able to:

1. Recognize the “away from home” requirement and related deductions, determine what constitutes transportation and travel expenses noting the tests for tax home and recognize the differences between temporary and indefinite work assignments including their affect on a tax home.
2. Identify the business purpose requirement using the 51/49 percent test, determine deductible conventions and meetings, and specify the limitations applied to meals and lodging when traveling.
3. Determine what constitutes business entertainment noting the de-ductibility tests of §162 and identify business entertainment activity de-duction restrictions.
4. Identify deduction limitations including the percentage reduction for meals and entertainment expenses, specify miscellaneous itemized business deductions and expenses associated with an entertainment facility, and recognize employee expense reimbursement and reporting options including available federal per diem rates and special treatment for the self-employed.

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