Delivery: Text Based
Credit Hours: 3
Field of Study: Federal Tax Update
Approval: IRS, CTEC
This course, Employee Business Expenses, addresses the rules used in determining if an expenditure is
an allowable employee business expense and how to calculate and claim the deductible expenses.
2017 TCJA Changes.
Under the Tax Cuts and Jobs Act (TCJA) of 2017, the deduction for unreimbursed employee business
expenses on Schedule A of Form 1040 that are subject to the 2% of AGI rule is suspended for tax year
2018 through tax year 2025.
- Eliminating such deductions for individual taxpayers places a considerable financial burden on
- many taxpayers. To minimize the out-of-pocket loss to individual taxpayers, employers can
- implement accountable expense reimbursement plans. Under accountable expense
- reimbursement plans, the oversight function of appropriate and deductible employee business
- expenses is transferred to the employer.
- After completing this 3-CE hour online self-study course, Employee Business Expenses, you will be able
- Identify changes under the Tax Cuts and Jobs Act (TCJA) of 2017 pertaining to employee
- business expenses
- Identify deductible travel expenses
- Calculate a travel expense deduction
- Calculate a business gift deduction
- Identify when the standard mileage rate can be used
- Identify qualifying employment-related education expenses
- Identify qualifying Section 179 expenses
- Identify rules pertaining to the simplified method business use of home deduction
- Identify how to deduct impairment-related work expenses