Study Guide - Travel and Entertainment with Bob

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

Course materials are based on online videos available immediately upon purchase.

Prerequisite: None

Course level: Basic

Advanced preparation: None

Teaching method: Online video and exam

Course materials are videos.

Section 1: Travel expenses

Upon completion of this section, students will be able to:

  • determine deductible travel expenses when there is no overnight stay
  • determine deductible travel expenses when there IS an overnight stay
  • assess when travel by cruise ship is deductible and
  • calculate deductible travel expenses when travelling out of the country.

Section 2: Temporary assignments, entertainment and gifts

Upon completion of this section, students will be able to:

  • understand temporary assignments and related deductions
  • determine whether entertainment is directly related or associated with the conduct of business and
  • explain when business gifts are deductible.

Section 3: Using a car for business

Upon completion of this section, students will be able to:

  • Decide whether to use the actual expense method or the standard mileage allowance
  • Understand basis, depreciation and the Section 179 deduction as it applies to cars & trucks
  • Know what car expenses are not deductible
  • Discuss options for reporting employer provided cars.

CPA Information

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