CONTINUING EDUCATION FOR TAX & FINANCIAL PROFESSIONALS
Self-Study

Business Travel & Entertainment

2 Credits: Taxes

$58.00$78.00

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Business Travel & Entertainment

Format
Self-Study
Course Level
Overview
CPE Credits

2 Credits: Taxes

Course Description

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.

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Learning Objectives

Upon successful completion of this course, participants will be able to:

  • 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 §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.
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Course Specifics

Course ID
8202721
Revision Date
April 2, 2024
Prerequisites

General understanding of federal income taxation.

Advanced Preparation

None

Number of Pages
65

Compliance Information

NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-02108-22-S
IRS Federal Tax Law Credits: 2
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-1518
CTEC Federal Tax Law Credits: 2

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.

CTEC Notice: California Tax Education Council DOES NOT allow partial credit, course must be taken in entirety. Western CPE has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, by phone toll-free at (877) 850-2832, or on the Internet at www.ctec.org.

Meet The Experts

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 …