On-Demand

2 CPE Credits

Surgent's Food, Beverage, and Entertainment Expensing

On-Demand
2 CPE Credits

This course is delivered as a recorded video. After completing all sessions, you must pass the final exam with a minimum score of 70% to receive credit.

The IRS has issued final regulations regarding the Tax Cuts and Jobs Act’s (TCJA) 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 address the 50% limitation on the deduction of food and beverage expenses and when the 50% limitation does not apply. To effectively advise clients, it is imperative for tax practitioners to understand these rules and be updated on the latest IRS guidance related to meals and entertainment.

Learning Objectives

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

Major Topics

  • The 50% deduction for meals that are ordinary and necessary in carrying on a trade or business
  • Elimination of the temporary rules that applied for 2021 and 2022 which allowed for 100% deductibility for ordinary and necessary business-related meals
  • When meals are still 100% deductible
  • IRS rules relating to the nondeducibility of activities considered entertainment or amusement
  • What constitutes entertainment/amusement for tax purposes?
  • When employers may deduct food and beverages provided to employees
  • 50% deductibility for occasional employee meals and for overtime meals
  • 50% deductibility for business meals during business meetings
  • Business meals incurred during business travel
  • Invoice meals separately from entertainment

CPE Credits Available

2 CPE Credits
2
Taxes

Things to Know About This Course

Course Level

  • Basic

Professional Area of Focus

  • Corporate Tax
  • Enrolled Agent - IRS Credit Eligible
  • Individual Tax

Prerequisites

A basic understanding of the tax rules relating to individual income tax

Advanced Preparation

None

Intended Audience

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

Provider

Surgent CPE

Purchase This Course

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