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 travelling 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.
Learning Objectives
- You will be able to describe what travel expenses are tax deductible and what’s not.
- You will be able to explain what entertainment expenses are tax deductible and what’s not.
- You will be able to identify other expenses that may assist a business in the tax area.
- You will be able to propose new policies for employees to abide by when travelling.
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
Speakers
Jackie A. Sexson,
Fortune 200- Compliance manager with Fortune 200 company
- Former executive director with the legal and human resources consulting firm, The Sexson Group
- Extensive experience in employment and labor law, as well as human resources
- Has a legal and HR background in employee relations, performance management (360-degree feedback), organizational management, benefits administration, recruitment and selection, compensation, equal employment opportunity, and training and development
- Experience with the public sector, Fortune 500 companies and small startup companies
- Held director and executive level positions, and worked as an independent consultant
- Certified as a senior professional in human resources by the Society for Human Resources Management
- J.D. and M.B.A. degrees
- Can be contacted at 303-513-6018 or jackie80504@gmail.com
Who Should Attend
This live webinar is designed for human resource managers, payroll managers, controllers, CFOs, accountants, business owners and managers, accounts payable managers, presidents and vice presidents, tax professionals, and bookkeepers.
