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22WS-1199: Surgent's Food, Beverage and Entertainment Expensing (Webinar)

If you have questions about this event, please call us at 952-831-2707.

Date Monday, December 12, 2022
Time 9:00am - 11:00am
Central Time
Location Online
CPE credits CPE 2.0
Field(s)
of study
Taxes - Technical (2.0)
Specialty
credits
2.0 IRS CE approved
Instructor Michael Tucker, PhD, LLM, JD, CPA
Surgent
Fees
Standard Member Fee $99.00
Standard Nonmember Fee $99.00

Description

The IRS has recently issued final regulations regarding the TCJA's elimination of the deduction for expenditures related to entertainment, amusement, or recreational activities and provided guidance to determine whether an activity is considered to be entertainment. The final regulations also addressed the 50% limitation on the deduction of food and beverage expenses and when the 50% limitation does not apply. Due to the pandemic, Congress changed the rules for 2021 and 2022 to allow for 100% deductibility for meals. To effectively advise clients, it is imperative for tax practitioners to understand these rules and be updated on the latest guidance.

Who should take this program?

Tax practitioners who anticipate advising clients with respect to employer meals and entertainment expenditures

Major subjects

  • Special rules for 2021 and 2022 allow 100% deductibility for meals
  • IRS rules relating to the nondeducibility of activities considered entertainment or amusement
  • What constitutes entertainment for tax purposes?
  • When are meals deductible and at what rate once the special rules applicable to 2021 and 2022 no longer apply
  • When employers may deduct food and beverages provided to employees
  • Special rules for per diem meal payments for 2021 and 2022

Learning objective(s)

  • Understand the new rules relating to the deductibility of expenses associated with meals, entertainment, and food and beverages that employers provide to employees

Notes:

Course code Code 22WS-1199
Sponsor Surgent
NASBA ID#: 103212
Level Basic
Format Group Internet Based
Prerequisites Prereq. A basic understanding of the tax rules relating to individual income tax
Advance
prep
None

If you have questions about this event, please call us at 952-831-2707.

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