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Travel, Entertainment, & Auto Rules

Instructional MethodAdvanced PreparationProgram PrerequisitesField Of Study Interactive Self Study NONE Basic Understanding of Taxes​ Taxes Experience LevelCourse IDCPE CreditsAuthor Basic to Intermediate DS-153 24 Danny Santucci, JD Travel, Entertainment, & Auto Rules Course Descr ...Read more
  • Description
Instructional Method Advanced Preparation Program Prerequisites Field Of Study
Interactive Self Study NONE Basic Understanding of Taxes​ Taxes
Experience Level Course ID CPE Credits Author
Basic to Intermediate DS-153 24 Danny Santucci, JD

Travel, Entertainment, & Auto Rules

Course Description: 

Updating practitioners on current developments, this core program examines and explains the practical aspects of travel and entertainment deductions. Fundamentals are reviewed and planning opportunities identified. Creative strategies are discussed and evaluated along with traditional approaches. Taxpayers are once again looking to their tax professional for guidance and planning related to travel and entertainment expenses. The goal of this course is to understand and solve problems. Participants will learn to master the proper administration of these complex and often cumbersome provisions in a humorous and entertaining format.

Who Should Attend: CPAs

Topics Covered:
CHAPTER 1 Travel Expenses
CHAPTER 2 Categories of Business Travel Expense
CHAPTER 3 Local Transportation
CHAPTER 4 Automobiles
CHAPTER 5 Entertainment
CHAPTER 6 Substantiation
CHAPTER 7 Reporting & Reimbursement of T&E  Expenses

Learning Objectives:

After reading Chapter 1, participants will be able to:

1. Determine the difference between transportation and business travel under §162 by identifying types of business travel expenses and the deduction & amortization requirements of §165 and §195.

2. Specify deductible travel costs to find a new job, identify investor travel expenses, and determine deductible transportation.

3. Identify the business purpose requirement noting the complications of mixed business and personal travel noting the costs at a destination.

4. Recognize the IRS’s and Circuit Courts’ definition of “tax home”, identify when a taxpayer lacks a tax home, and specify the “away from home” requirement including the sleep and rest rule.

5. Identify temporary and indefinite job assignments recognizing the critical factor in distinguishing the two job assignments.

 


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