Travel and Entertainment with Bob


Overview
Travel and entertainment deductions must meet specific criteria in order to be deductible. The IRS recognizes that this is an area prone to overreach by business people, so this course focuses on specific examples of when expenses are or are not deductible.
 
This course presents a comprehensive overview of three main areas of travel and entertainment tax law:
Section 1: Travel expenses in various situations.
Section 2: Temporary assignments, entertainment and gifts.
Section 3: Using a car for business.

Objectives
Section 1: Travel expenses
Upon completion of this section, students will be able to:

  • Determine deductible travel expenses when there is no overnight stay
  • Determine deductible travel expenses when there IS an overnight stay
  • Assess when travel by cruise ship is deductible and
  • Calculate deductible travel expenses when travelling out of the country.
Section 2: Temporary assignments, entertainment and gifts
Upon completion of this section, students will be able to:
  • Understand temporary assignments and related deductions
  • Determine whether entertainment is directly related or associated with the conduct of business and
  • Explain when business gifts are deductible .
Section 3: Using a car for business
Upon completion of this section, students will be able to:
  • Decide whether to use the actual expense method or the standard mileage allowance
  • Understand basis, depreciation and the Section 179 deduction as it applies to cars & trucks
  • Know what car expenses are not deductible
  • Discuss options for reporting employer provided cars
Prerequisite
None

Preparation
No advance preparation required
 
Level of Knowledge
Overview
 
CPE Credit
2 Hours
 
Delivery Method  
Group Internet Based
 
NASBA Field of Study
Taxes

Author
Carolyn Weaver