New Tax Law Section 274: Meals and Entertainment Deductions
EVENT DATE:
PRESENTER(s): Daniel J. Pilla
This program has been approved NASBA & IRS CPE Credit 2(Taxes)
Until recently, meals and entertainment expenses were deductible. The scope of the deduction allowed has been steadily diminishing, but it could still be done. Now, the Tax Cuts and Jobs Act (TCJA) has seemingly killed all scope for deduction of these expenses. Many people are confused over the extent to which entertainment expenses are deductible now. This webinar will explore that topic in detail, and clear all confusion.
Join this webinar with expert speaker Mr. Daniel J. Pilla will walk you through the subject of New Tax Law Section 274, explaining various concepts in detail and providing useful information which will help you understand Section 274 and the Tax Cuts and Jobs Act – and how these will affect meals and entertainment expenses.
Topics under discussion include: Amendment to code Section 274(a)(1); how the Jobs Act will affect meals and entertainment expenses; the difference between “meals” and “entertainment” as per the law; how to keep proper records of meals; the process of reconstructing lost or incomplete records; analyzing Section 274 in light of the Tax Cuts and Jobs Act; legal authority for deduction of meals apart from section 274; records requirements under Section 274(d), and many more.
Daniel J. Pilla also takes you down into the weeds of the law to explain the difference between “meals” and “entertainment,” how to reconstruct lost or incomplete records, and what the Oct. 3 update from the IRS taught us. Meals and entertainment deductions can really add up—make sure you are deducting every penny you can.
Session Highlights:
- What the New Law Did and Didn’t Do
- Understand the amendment to code Section 274(a)(1)
- Learn how the Jobs Act will affect meals and entertainment expenses
- Discover the difference between “meals” and “entertainment” as per the law
- Find out how to keep proper records of meals
- Go through the process of reconstructing lost or incomplete records
- Analyze Section 274 in light of the Tax Cuts and Jobs Act (TCJA)
- Understand the legal authority for deduction of meals apart from Section 274
- Find out the records requirements under Section 274(d)
- What Constitutes “Entertainment”
- TCJA Didn’t Touch §274(e)
- And more.
Credits and Other information:
- Recommended CPE credit – 2.0
- Recommended field of study – Taxes
- Session Prerequisites and preparation: None
- Session learning level: Basic
- Location: Virtual/Online
- Delivery method: Group Internet Based
- NASBA Sponsor: 146439
- IRS Course ID: PJGWS
- Attendance Requirement: Yes
- Session Duration: 2 Hours
- Case Studies and Live Q&A session with speaker
- PowerPoint presentation for reference
Who Will Benefit:
- Certified Public Accountants (CPAs)
- Enrolled Agents (EAs)
- Tax Professionals
- Attorneys
- Finance professionals
- Financial planners
- Accounting Personnel
- Other professionals involved in tax preparation or planning for small businesses
