Online pdf (50 pages). Printed book available.
Instructional Delivery Method:
General understanding of federal income taxation.
: 2 hrs.
Field of Study:
You have one year from date of purchase to complete the course.
Course Revision Date:
* Transportation & travel distinguished
* Definition of “tax home”
* Temporary & indefinite assignments
* Business purpose requirement for business travel
* Convention & meetings
* Statutory exceptions of ordinary & necessary requirement
* Entertainment facilities
* Employee expense reimbursement & reporting
* Self-employed persons
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 specifying 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 stating the impact on deductions.
Very informative, clear and helpful.