2024 Guide to Deducting Travel, Meals and Entertainment Expenses

Overview

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. 

**Please Note:  If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to kori.herrera@acpen.com.

Highlights

• 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 expenses
• Reporting travel expenses: travel status, simplified per diem
• "Directly related to" and associated with" tests
• Facility vs. activity expenses
• 9 exceptions to Section 274
• Business meals: IRS Notice 2018-76; 2023 mileage and per diem rates

Prerequisites

Basic working knowledge of business expense reporting

Designed For

Practitioners, members in industry, or personnel responsible for payroll tax reporting or determining and reviewing travel and entertainment deductions

Objectives

• Gain insight on the "big picture" in this complex area
• Distinguish the rules of determining travel and entertainment expenses

Preparation

None