Business Travel and

Entertainment

Course Description:

Taxpayers are once again looking to CPAs for guidance and planning related to travel and entertainment expenses. This comprehensive course examines and ex-plains 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.

Learning Objectives:

Upon successful completion of this course, participants will be able to:

•    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.
•    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 non accountable plans noting the impact on deductions. §§