Taxpayers are once again looking to CPAs for guidance and planning related to travel and entertainment expenses. This comprehensive 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 Publication Date:
April 23, 2024
This course is available with
NO ADDITIONAL FEE if you have an active
self study membership or
all access membership or can be purchased for
$20.00!
| Author: | Danny Santucci |
| Course No: | TAX-BUSTRAV-5094-M |
| Recommended CPE: | 2.00 |
| Delivery Method: | QAS Self Study |
| Level of Knowledge: | Overview |
| Prerequisites: | General understanding of federal income taxation |
| Advanced Preparation: | None |
| Recommended Field of Study: | Taxes
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Learning Objectives
- 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 effect on a tax home.
- 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.
- Determine what constitutes business entertainment and identify business entertainment activity deduction restrictions and disallowance.
- Specify the §274(e) exceptions to entertainment deduction disallowance, recognize the necessity of expense substantiation, and determine accountable and nonaccountable plans noting the impact on deductions.