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Study guide Travel and Entertainment

The study guide is provided to guide you through the course material in a step by step format.

Reading assignments are for "Travel and Entertainment."

1) What's new

Reading Assignment: What's New <<>> Review Question: # none

The learning objectives for this lesson are to gain an understanding of:

  • Mileage reimbursement changes
  • Depreciation limit changes

2)  Travel

Reading Assignment:  Chapter 2 <<>> Review Questions: # 1-8

The learning objectives for this lesson are to gain an understanding of:

  • Traveling away from home
  • Temporary assignment
  • What travel expenses are deductible

3)  Entertainment

Reading Assignment: Chapter 3  <<>> Review Questions: # 9-13

The learning objectives for this lesson are to gain an understanding of:

  • Directly-related test
  • Associated test
  • 50% limit
  • What entertainment expenses are deductible

4)  Gifts

Reading Assignment: Chapter 4  <<>> Review Questions: # 14

The learning objectives for this lesson are to gain an understanding of:

  • The $25 limit
  • Incidental costs
  • Exceptions-items not considered gifts
  • Gift or entertainment

5)  Transportation

Reading Assignment: Chapter 5  <<>> Review Questions: # 15-22

The learning objectives for this lesson are to gain an understanding of:

  • What transportation expenses are deductible
  • Standard mileage rate
  • Actual car expenses
  • Depreciation
  • Car used 50% or less for business
  • Disposition of a car

6)  Record Keeping

Reading Assignment: Chapter 6 <<>> Review Questions: # 23-29

The learning objectives for this lesson are to gain an understanding of:

  • How to prove expenses
  • What are adequate records
  • How long should I keep records

7)  How to report

Reading Assignment: Chapter 7 <<>>Review Question: # 30

The learning objectives for this lesson are to gain an understanding of:

 

  • Where to report
  • How to report vehicle provided by employer
  • Reimbursement reporting
  • Rules for independent contractors and clients

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