Video

  • 26 minutes

Meals, Entertainment and Gifts - Tax Planning and Guidance

 
Meals are deductible when it’s necessary for you to stop for substantial sleep or rest to properly perform your duties while traveling away from home on business. They are deductible if they are business related entertainment. However there are limitations and some meals may be questioned depending on facts and circumstances. Our speaker reviews those limitations and situations when a meal may be questioned. Entertainment generally is deductible at 50%. The IRS applies one of two tests: directly related; and associated with. This video will explain the difference between those two tests. Gifts given for a business reason are deductible, subject to a $25 limit per person, whether directly or indirectly given to that person.

In this 25-minute video our speaker, Josie A. Henneke, CMI, CPA, reviews these three areas of deductions and provides examples of each situation.

Josie A. Henneke, CMI, CPA is vice president at AGS Capital, LLC. She consults for state and local tax issues. Ms. Henneke reviews and manages state and local tax audits. Previously she was a CFO of a venture capital firm with multistate investments requiring employee travel of all kinds. Ms. Henneke is a certified member of the Institute of Professionals in Taxation and a member of AICPA and Indiana CPA Society.
Runtime: 25 minutes

Faculty

Josie A. Henneke, CPA

Josie A. Henneke, CPA

AGS Capital, LLC

Agenda

Faculty

Josie A. Henneke, CPA

Josie A. Henneke, CPA

AGS Capital, LLC

  • CFO of AGS Capital LLC, a venture capital firm with multistate investments
  • Oversees compliance and preparation of various 1099 forms for over ten companies each year
  • Was a member of the Institute of Professionals in Taxation for over twenty years
  • Member of AICPA and Indiana CPA Society
  • Regularly instructs in tax matters for Lorman Education Services, IPT, and other organizations
  • Worked for the Indiana Department of Revenue for 16 years
  • QuickBooks® expert
  • B.S. degree, Indiana University

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