Business Travel and Entertainment ON DEMAND
Available Until
Your Desk
2.0 Credits
Member Price $232.00
Non-Member Price $267.00
Overview
This comprehensive mini-course is tailored for CPAs and tax professionals seeking to deepen their understanding of business travel and entertainment expenses. The course meticulously covers the fundamentals of these deductions, identifying key opportunities for tax planning. Participants will master the intricacies of the “away from home” requirement, learning to distinguish between temporary and indefinite work assignments and their impact on tax home determination. The course also delves into the business purpose requirement, including the 51/49 percent test for entertainment, and outlines the rules for deductible conventions, meetings, meals, and lodging. Furthermore, you’ll explore the complex regulations surrounding business entertainment expenses, learning how to navigate the restrictions and disallowances effectively. The course emphasizes the critical role of expense substantiation and differentiates between accountable and non-accountable plans, providing essential knowledge for maximizing deductions and maintaining compliance. By the end of this course, participants will be well-equipped to guide clients through the often confusing landscape of travel and entertainment expenses, enhancing their value as trusted tax advisors.
Highlights
Business travel. Business entertainment.
Prerequisites
None.
Designed For
CPAs, accounting staff, enrolled agents, and tax practitioners.
Objectives
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 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 Section 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.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
Danny Santucci, Western CPE
Danny Santucci, BA, JD, is a prolific author of tax and financial books and articles. His legal career started with the business and litigation firm of Edwards, Edwards, and Ashton. Later he joined the Century City entertainment firm of Bushkin, Gaims, Gaines, and Jonas working for many well-known celebrities. In 1980, Danny established the law firm of Santucci, Potter, and Leanders in Irvine, California. With increasing lecture and writing commitments, Danny went into sole practice in 1995. His practice emphasizes business taxation, real estate law, and estate planning. Speaking to more than 100 groups nationally each year, he is known for spicing up his extensive expertise with an incredible sense of humor.
Non-Member Price $267.00
Member Price $232.00