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Product ID: 396609EAU
 
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Effective Use of Travel and Entertainment Expenses

OnDemand Webinar (90 minutes)

Make sure you have a well-defined policy for how travel and entertainment expenses are allocated.When it comes to business travel and entertainment, it is important for employees to understand the expectations of the business when they are traveling on behalf of the business. Businesses often have to spend a significant amount of money cultivating new business relationships and maintaining current business relationships, thus, the need for entertainment and travel expenses. The general rule is that expenses incurred to earn a profit are deductible in the computation of business income. The tax treatment of travel and entertainment costs is important to ensure a business is maximizing its deductions to save on income tax. Having a well-defined policy for how travel and entertainment expenses are allocated will certainly help employees understand what is needed to assist a business in maximizing its deductions.

Authors

Jackie A. Sexson

Agenda

Basic Overview of Travel and Entertainment Expenses

• Travel Expenses

• Entertainment Expenses

• Business Travel

Meals and Entertainment Expenses

• Type of Business

• Long-Haul Truck Drivers

Other Expenses

• Club Dues and Fees

• Camps, Lodges and Golf Courses

• Yachts and Other Luxury Items