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Travel and Entertainment: Expenses and Deductions (2010)
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Author: CCH Editorial Staff
Description:
Travel and entertainment expenses are common business deductions. Yet, because of the complex nature of the Internal Revenue Code and ever-changing IRS regulations and rulings, taxpayers have to go to uncommon lengths to determine their maximum allowable deductions. What is a correct deduction one year may be incorrect the next year due to changes in the law or changes in how the law is applied. This course clarifies how to best maximize travel and entertainment business deductions.
Topics covered include the difference between business and personal expenses, rules regarding the tax treatment of employee business expenses, tax requirements for deducting entertainment expenses, the limited deduction available for business gifts, deductibility rules for meetings and conventions, and substantiation of expense requirements.
Upon completion of this course, the user should be able to:
- List the rules regarding travel expense deductions, including the special limitations on entertainment expense deductions
- Explain the limited deduction available for business gifts
- Determine when expenses for a convention or a meeting are deductible
- Correctly substantiate travel and entertainment expenses
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Course Details:
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Price: $96.00
Field of Study: Taxes
Prerequisites: Basic understanding of federal taxation
Level: Overview
Advanced Preparation: None
CTEC course number: 1075-CE-7326
Course was last updated on: 04/26/10
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Library:
Learning Center Core
Technical Requirements:
To view and print downloadable content files available in this program, you will need Adobe Acrobat Reader. You can download the free Reader plugin at Adobe's website by clicking on the icon below, then following the instructions for installation on your computer.
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| Credit Available For: |
Units |
| CPE |
6.0 CPE |
| QAS |
6.0 CPE |
| Enrolled Agent (Accepted by the IRS) |
6.0 CPE |
| CTEC Federal |
6.0 CE |
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Note: Recommended CPE credit is based on a 50-minute hour. Participants earning credits for states that require self-study to be based on a 100-minute hour will receive half the recommended CPE credits for successful completion of this course.
Since Continuing Professional Education requirements vary from state to state and are subject to change without notice, please contact your state board of accountancy for information on your CPE requirements and the applicability of this course to meet those specifications.
CCH has been approved by the California Tax Education Council to offer courses that provide federal and state credit towards the annual "continuing education" requirement imposed by the State of California. 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, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.
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