Description
Make sure you have a welldefined 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 traveling 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 welldefined 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.
Date: 2024-06-03 Start Time: End Time:
Learning Objectives