Business Travel & Entertainment (2 hrs)

Course Description

Business Travel & Entertainment Deductions

This comprehensive mini-course examines and explains the practical aspects of business travel & 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 (51 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 2018

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 and identify business entertainment activity deduction restrictions and disallowance.
4. Specify the §274(e) exceptions to entertainment deduction disallowance, recognize the necessity of expense substantiation, and determine accountable and non accountable plans noting the impact on deductions.

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