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Travel Pay and Entertainment Reimbursements Best Practices
This Webinar is over| Date | Nov 22, 2017 |
| Time | 11:00 PM EDT |
| Cost | $200.00 |
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Online
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Description
What are the rules regarding when an employee must be compensated for time and expenses incurred while travelling on company business? They are complex and confusing. There are many issues involved, such as the use by an employee of his or her own vehicle, the use of a company owned vehicle, the proper administration of and accounting for travel pay, and the best way to handle suspected abuses by employees of an employer's travel and entertainment policy.
Objectives of the Presentation
Learn the requirements for payment of travel time to ensure you comply with the requirements under the Portal Act and the requirements for documenting business travel, meals and entertainment expense to ensure you can take full advantage of the deductions allowed under the Internal Revenue Code and its regulations. Find out when an employee's meal is 100% deductible and when it is only 50% deductible. Understand the limitations on personal travel and entertainment mixed with business travel and entertainment. Ensure that your records will stand the scrutiny of a compensation or tax audit.
Experienced CPA and businessman Miles Hutchinson will review the law regarding travel compensation and travel expense reimbursement. He will provide practical guidance in these areas that have become the subject of increasing wage and hour claims and IRS scrutiny.
Topic Background
The Portal Act was enacted in 1947 to amend the Fair Labor Standards Act to address compensation for travel time and establish a statute of limitations for making claims for unpaid wages and overtime pay. This law is viewed by many as quite ambiguous.
The IRS regulates deductibility of reimbursements of travel and entertainment expenses. Using their definitions and following their guidelines companies can maximize the deductibility of their properly documented business travel, meals and entertainment expenses. Apply their guidelines for determining when an employee meal is 100% deductible and when it is only 50% deductible. Understand the limitations on personal travel and entertainment mixed with business travel and entertainment. Ensure that your records will stand the scrutiny of a compensation or tax audit.
* Please contact us at 510.857.5841 or rakesh.k@onlinecompliancepanel.com if you need any assistance registering
What are the rules regarding when an employee must be compensated for time and expenses incurred while travelling on company business? They are complex and confusing. There are many issues involved, such as the use by an employee of his or her own vehicle, the use of a company owned vehicle, the proper administration of and accounting for travel pay, and the best way to handle suspected abuses by employees of an employer's travel and entertainment policy.
Objectives of the Presentation
- Starter Question: is the employee exempt or non-exempt under the FLSA?
- The Fair Labor Standards Act and Portal Act requirements regarding travel pay
- Rate of travel pay
- Commuting expenses
- Travel between assignments
- One day and up to one year assignments at temporary locations
- Overnight travel
- Travel, entertainment, gift and car expense reimbursements
- Accountable vs. non-accountable plan payments
- The travel advance trap and how to avoid it
- Employer policy manual --communicating travel and entertainment policies
- Employer's liability to employee and to third parties for damages arising from company travel
Learn the requirements for payment of travel time to ensure you comply with the requirements under the Portal Act and the requirements for documenting business travel, meals and entertainment expense to ensure you can take full advantage of the deductions allowed under the Internal Revenue Code and its regulations. Find out when an employee's meal is 100% deductible and when it is only 50% deductible. Understand the limitations on personal travel and entertainment mixed with business travel and entertainment. Ensure that your records will stand the scrutiny of a compensation or tax audit.
Experienced CPA and businessman Miles Hutchinson will review the law regarding travel compensation and travel expense reimbursement. He will provide practical guidance in these areas that have become the subject of increasing wage and hour claims and IRS scrutiny.
Topic Background
The Portal Act was enacted in 1947 to amend the Fair Labor Standards Act to address compensation for travel time and establish a statute of limitations for making claims for unpaid wages and overtime pay. This law is viewed by many as quite ambiguous.
The IRS regulates deductibility of reimbursements of travel and entertainment expenses. Using their definitions and following their guidelines companies can maximize the deductibility of their properly documented business travel, meals and entertainment expenses. Apply their guidelines for determining when an employee meal is 100% deductible and when it is only 50% deductible. Understand the limitations on personal travel and entertainment mixed with business travel and entertainment. Ensure that your records will stand the scrutiny of a compensation or tax audit.
* Please contact us at 510.857.5841 or rakesh.k@onlinecompliancepanel.com if you need any assistance registering
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