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Business Travel & Entertainment

Course - Business Travel & Entertainment

Major Topics

Learning Objectives

  1. 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.
  2. 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.
  3. Determine what constitutes business entertainment and identify business entertainment activity deduction restrictions and disallowance.
  4. Specify the ?274(e) exceptions to entertainment deduction disallow-ance, recognize the necessity of expense substantiation, and determine accountable and non-accountable plans stating the impact on deductions.

Course Description

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

Compliance Information

Advanced Preparation

None

Field of Study

Taxes

Credits

2 Credits

Published Date

April 15, 2023

Revision Date

February 14, 2024

Course Authors

Danny Santucci

Huntington Beach, CA
Author, Santucci Publishing

Danny earned his Bachelor of Arts in Political Science from the University of California at Irvine in 1969. He received his Juris Doctorate from Boalt Hall School of Law, University of California at Berkeley in 1972, at which time he began practice as a tax attorney in Southern California. 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 & 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.

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Overview

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

Course Details

  1. 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.
  2. 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.
  3. Determine what constitutes business entertainment and identify business entertainment activity deduction restrictions and disallowance.
  4. Specify the ?274(e) exceptions to entertainment deduction disallow-ance, recognize the necessity of expense substantiation, and determine accountable and non-accountable plans stating the impact on deductions.

Intended Audience

Advanced Preparation — None

Field of Study — Taxes

Credits — 2 Credits

IRS Program Number

Published Date – April 15, 2023

Revision Date – February 14, 2024

Course Authors

Danny Santucci

Huntington Beach, CA
Author, Santucci Publishing

Danny earned his Bachelor of Arts in Political Science from the University of California at Irvine in 1969. He received his Juris Doctorate from Boalt Hall School of Law, University of California at Berkeley in 1972, at which time he began practice as a tax attorney in Southern California. 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 & 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.

About Instructor Read Less