New Travel & Entertainment Expense Reporting Rules

Description

This program reviews the statutory and regulatory guidance as they related to travel, entertainment and business transportation expenses, with a focus on planning opportunities. Recent federal tax legislation repealing the deduction for entertainment will be addresses, as well as relevant cases and rulings.

This event may be a rebroadcast of a live event and the instructor will be available to answer your questions either during or after the event.

Highlights

• Definition of what qualifies as a travel expense.
• Definition of what qualifies as an entertainment expense.
• Strategies to deduct business transportation expenses.
• Deductible meals.
• Situations not subject to the 50% meals reduction.
• How to handle automobile issues related to commuting vs. business transportation.
• Proper accounting for deductible vs. non-deductible expenditures.
• The four steps to analyze business expenses.
• The latest federal legislation, cases and rulings.

Objectives

• To provide the "big picture" of qualified deductible expenses.
• To provide guidance on what to do and when to do it.

Designed For

CPAs working in public accounting and members in industry responsible for reviewing and determining travel and entertainment expense reporting.