Course Description: This is a basic-level course covering four related subjects: meals and lodging furnished to employees; travel and transportation expenses; meal and entertainment expenses; and substantiation requirements for travel, transportation, meal, and entertainment expenses. 

 Course Level: Basic

Course Prerequisites: None

Delivery Method: Self-study

After completing this course you will be able to: 

• Apply the “convenience of the employer” test for purposes of meals and lodging furnished to employees; 
• Understand specific situations in which meals and lodging furnished to employees may or may not be excludible from gross income, as well as how the facts and circumstances of other situations will be taken into account; 
• Identify the circumstances under which travel and transportation expenses will be considered “ordinary and necessary” business expenses; 
• Know the rules regarding travel for educational purposes; 
• Know what it means to travel “away from home”; 
• Identify the taxpayer’s “home understand what problems that may arise when the taxpayer has no “home;” 
• Evaluate travel in connection with temporary employment; understand how to evaluate travel that has both business and personal elements; 
• Understand the special rules that apply to foreign travel; 
• Understand the special rules that apply to conventions; 
• Understand the treatment of commuting costs; 
• Define “entertainment” for federal tax purposes; 
• Identify the circumstances under which meal and entertainment expenses are deductible; 
• Identify the limitations on deductible amounts; 
• Identify the type of information must be maintained to substantiate expenses for travel, transportation, meals, or entertainment; 
• Understand the acceptable recordkeeping methods for such expenses; 
• Know the permissible simplified recordkeeping methods for such expenses; and 
• Know how long such records should be retained.

CPE

3

CLE

N/A