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Simplifying Travel and Entertainment Rules and Recordkeeping - v10 (Course Id 1690)

QAS / Registry / EA
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Author : Steven D Mercatante, Tax Attorney, Author
Course Length : Pages: 30 ||| Review Questions: 9 ||| Final Exam Questions: 15
CPE Credits : 3.0
IRS Credits : 3
Price : $26.95
Passing Score : 70%
Course Type: NASBA QAS - Text - Technical - NASBA Registry - IRS Enrolled Agents
Primary Subject-Field Of Study:

Taxes - Taxes for Course Id 1690

Description :

This course will help CPAs, accounts payable, and tax develop an Accountable Plan for reimbursing employees and maintaining adequate accounting records thereby solidify the T&E expense deductions on the company’s annual income tax return.

In this course, industry expert and corporate tax attorney Steven D. Mercatante Esq. provides helpful tips that will be useful in training not only employees seeking reimbursement, but also the accounts payable staff reviewing the monthly employee expense reports, and tax staff reviewing records prior to preparation of the Federal income tax return.

Usage Rank : 0
Release : 2020
Version : 1.0
Prerequisites : None.
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Additional Links :
Advance Preparation : None.
Delivery Method : QAS Self Study
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 08-Sep-2020
NASBA Course Declaration : Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.
Approved Audience :

NASBA QAS - Text - Technical - NASBA Registry - IRS Enrolled Agents - 1690

Keywords : Taxes, Simplifying, Travel, Entertainment, Rules, Recordkeeping, v10, cpe, cpa, online course
Learning Objectives :

Course Learning Objectives

  • Learn about 1099 and W-2 reportable versus non-reportable fringe benefits and expense reimbursements, including a detailed discussion of the proper method for applying accountable plan rules (with real world examples provided and discussed) as well as record-keeping rules as required by the IRS
  • Identify recent changes to expense reimbursement and fringe benefit rules as well as the introduction of the new Form 1099-NEC, and learn how to address these changes in regards to W-2 and 1099 reporting requirements
  • Identify key expense reimbursement issues including the ongoing controversy over entertainment expenses, de minimis and working condition fringe benefits, commuting, meal, per diem, commuting and transportation expenses, and how and when they are 1099 and W-2 reportable
  • Discover tips on filing effectively as well as creating policies and procedures for avoiding IRS penalties and audits involving fringe benefit and expense reimbursement situations as well as addressing the dangers of “gift-giving” in a business context and determining “fair market value” and a special analytical process for determining which fringes and reimbursements are reportable or not
  • Recognize how to identify when you must report expense reimbursements paid to employees, contractors, volunteers, and other workers including “highly compensated” employees
Course Contents :

Chapter 1 - Simplifying Travel and Entertainment Rules and Recordkeeping


What is a fringe benefit?

If there is W-2/1099 reporting what gets reported? 

Fringe Benefit Exclusion Rules

The Tax Cuts and Jobs Act Wrecking Ball

Accountable Plans 

Travel Expenses

Entertainment Expenses - Additional Issues


Meal Reimbursements

Meals and Travel

How Long Do You Hold Onto Records?

Per Diem

Commuting Versus Transportation



CPE Taxes Course: https://www.cpethink.com/tax-cpa-courses
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