Deducting Travel, Meals & Entertainment After Tax Reform
This program will explain the new rules for deducting travel, meals and entertainment expenses and the TCJA disallowance of business entertainment expenses. Documentation requirements and planning opportunities related to travel, entertainment, and automobile expenses will also be addressed.
- Recent tax legislation, rules and developments impacting travel and meals expense reporting
- Adequate accounting rules for reimbursements, including accountable plans, going paperless, reimbursement for non-deductible expense
- Reporting travel expenses: travel status, simplified per die
- Meals and entertainment: "directly related to" and associated with" tests; facility vs. activity expenses; TCJA elimination of most entertainment expenses; 9 exceptions to Section 274
- Business meals: IRS Notice 2018-76
- 2020 mileage and per diem rates
Upon completion of this course you will be able to:
- Gain insight on the "big picture" in this complex area
- Distinguish the rules of determining travel and entertainment expenses
- Know what to do and when to do it
Practitioners, members in industry, or personnel responsible for payroll tax reporting or determining and reviewing travel and entertainment deductions.