Business Travel and Entertainment - Mini CourseCode: 25-BUSTRAV2

52 pages
Course description and objectives:

This mini-course reviews travel, meals, and lodging expenses incurred by a taxpayer while away from home in connection with his services as an employee that are deductible under §162(a)(2). Also reviewed are the actual transportation expenses paid or incurred by a taxpayer even while not away from home in connection with his services as an employee that are also deductible.

Learning Objectives
After completing this course, you should 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 noting the deductibility
  tests of §162 and identify business entertainment activity deduction restrictions.
• Identify deduction limitations including the percentage reduction for meals and entertainment expenses, specify miscellaneous itemized
  business deductions and expenses associated with an entertainment facility, and recognize employee expense reimbursement and reporting
  options including available federal per diem rates and special treatment for the self-employed.

Presentation Method: QAS Self-Study

Category: Taxation

CPE credit: 2 Hours

Program Level: Update

Prerequisites: None

Advance Preparation: None

Exam expiration date: Participants must submit exams for grading within one year from the date of purchase