Cohencpa.com

The What and How-to’s of Deducting Travel, Meal

Travel & Transportation More specifically, deductible travel expenses include costs for carfare or airfare, meals, lodging, etc., incurred by an employee while away from home on a trip that requires the employee to stop for rest or sleep.

Actived: 8 days ago

URL: https://www.cohencpa.com/insights/articles/the-what-and-how-to-of-deducting-travel-meals

Insights & Thought Leadership Cohen & Company

(3 days ago) Travel. Business trips, conventions and continuing education seminars are frequently planned to incorporate leisure time. Naturally, you are not prohibited from enjoying non-business or personal activities while on a business trip, but the primary reason for the trip (and the majority of time spent) must be related to your trade or business.

Category:  Travel Go Now

The Effects of COVID-19 on Commercial Real Estate …

(2 days ago) With business travel largely restricted, companies may have discovered that videoconferencing can be as effective as in-person meetings. And international travel might fall off if businesses increase their reliance on domestic supply chains (which could boost demand for warehouse and manufacturing space). Brick-and-Mortar Retail Shops vs. E

Category:  Travel Go Now

Mary Washburn, MSM, CIA® Cohen & Company Cohen & …

(5 days ago) Mary is an avid runner and loves to travel. A relatively new and somewhat daunting hobby, Mary is taking on the DIY challenges associated with renovating and reviving the charms of the historic bungalow she and her husband share in Cleveland, Ohio.

Category:  Travel Go Now

Kevin Carney, CPA Cohen & Company Cohen & Company

(4 days ago) Kevin is active in recreational sports, including basketball, softball and volleyball. He loves to travel with friends and has been to Europe numerous times after studying abroad there during college.

Category:  Travel Go Now

John Cavalier, MBA, MAcc Cohen & Company Cohen & Company

(5 days ago) Though John has focused industry experience in consumer products and travel and hospitality, his background has afforded him the opportunity to work across many industries, as well as with clients spanning from the Fortune 50 to companies with $50 million in annual revenue.

Category:  Travel Go Now

John Wells, CPA Cohen & Company Cohen & Company

(2 days ago) John likes to travel, visiting craft breweries wherever he goes, and spend time with his family. He also enjoys the outdoors, including hiking and watching the Orioles at Camden Yards — even in the tough seasons. John lives in Owings Mills, Maryland, with his wife, daughter and their dog.

Category:  Travel Go Now

Donna Weaver, CPA, MT Cohen & Company Cohen & Company

(4 days ago) Donna, her husband and their two children love to travel. Twice a year, they make an effort to visit a warm, tropical destination. Donna highly recommends experiencing the sunsets in Jamaica. And while she has gone swimming with sharks and dolphins, she much prefers relaxing on the beach. Donna and her family live in Brunswick, Ohio.

Category:  Travel Go Now

Alane Boffa, CPA, MT, AEP® Cohen & Company Cohen & …

(3 days ago) Alane Boffa, CPA, MT, AEP®. Partner, Tax. Always available when they call. That’s what Alane’s clients love about her the most. She always answers her phone and makes them well aware that they are her number one priority. Location: Akron Email: [email protected]cohencpa.com Phone: 330.255.4316.

Category:  Travel Tips Go Now

Brett Eichenberger, CPA Cohen & Company Cohen & Company

(Just Now) Speaker at various industry conferences on new regulations. Ohio Society of CPAs. American Institute of CPAs. Brett lives in Strongsville, Ohio, with his wife and three daughters. Most of Brett’s free time is spent with his family, but he also enjoys traveling, reading and playing soccer. His favorite travel spot is Aruba.

Category:  Travel Go Now

Nancy Spalding, CPA, MST Cohen & Company Cohen & Company

(6 days ago) Nancy and her husband live in Grosse Pointe Woods, Michigan, and have two grown children and two grandchildren. She likes to volunteer, boat, read, cook, spend time with friends and family, and travel, including mission trips.

Category:  Travel Go Now

Hallie Sly, MBA Cohen & Company Cohen & Company

(2 days ago) Hallie loves to cook, travel — and compete. She is a triathlete, taking on races such as the Nation’s Triathlon in Washington D.C. and the K-Town Triathlon in Kingston, Ontario. She enjoys racing locally as well and has taken an interest in learning how to play Squash! Hallie …

Category:  Travel Go Now

LESS RISK SOLID REWARDS

(7 days ago) Anderson Coach & Travel, responding to challenging market changes by coming full circle to renew their father’s founding vision. All of the entrepreneurs featured in this issue of Taxonomics remind me that, while remaining fl exible is necessary to navigate unforeseen challenges, staying true to a solid,

Category:  Travel Go Now

How Your Organization Can Optimize Its Procurement Process

(3 days ago) Other key compliance areas include purchase order policy compliance, usage of P-Cards, travel and entertainment, and so on. Whereas a single focus on purchase price, using category management routes such as aggregation and negotiation, can contribute to 10% to 20% in value realization (price reduction), a more strategic approach of both

Category:  Travel Go Now

Dianne Killian, CPA Cohen & Company Cohen & Company

(6 days ago) Dianne resides in Marriottsville, Maryland, with her husband and is an avid Penn State and Baltimore sports fan. With both of their children grown and on their own, Dianne and her husband like to travel, exploring the U.S. and Canada in their RV.

Category:  Travel Go Now

Josh Swander, CPA Cohen & Company Cohen & Company

(4 days ago) Josh loves to travel, play golf and root for his favorite team — the Detroit Tigers. A fan through and through, he hopes to cheer them on in a World Series in the very near future! Josh, his wife and their son reside in Brunswick Hills, Ohio.

Category:  Travel Go Now

$284 Billion Allocated to Paycheck Protection Program

(7 days ago) Amounts collected for another by a travel agent, real estate agent, advertising agent, conference management service provider, freight forwarder or customs broker. All other items, such as subcontractor costs, reimbursements for purchases a contractor makes at a customer's request, investment income and employee-based costs such as payroll

Category:  Travel Go Now

Section 199A Activity Chart for Specified Service, Trade

(9 days ago) Coen ompan is not rendering legal, aounting or oter professional advie nformation ontained in tis material is onsidered acurate as August 22, 2018 An ation taen ased on information in tis

Category:  Travel Tips Go Now

Adam Fink, CPA, MT Cohen & Company Cohen & Company

(1 days ago) A resident of North Canton, Ohio, and a true family man, Adam loves to travel with his wife and their three children. And as he puts it, he “drives the family minivan with pride!” Also an outdoorsman, Adam enjoys camping, hiking and boating.

Category:  Travel Go Now

Where Are We in the Cryptocurrency Maturity Cycle

(2 days ago) The BSA’s Travel Rule requires money services businesses that transmit funds to also transmit information about the sender and recipient. Cryptocurrency exchanges and companies have developed and continue to enhance the technical solutions to ensure appropriate anti-money laundering and countering the financing of terrorism controls are in place.

Category:  Travel Go Now

Insights & Thought Leadership Cohen & Company

(5 days ago) Travel expenses are the “ordinary” and “necessary” expenses that coincide with traveling away from home for your business. Ordinary expenses include any normal expenses that a business would naturally be expected to incur. Necessary expenses are those that are helpful and appropriate to satisfy the job requirements of your business.

Category:  Travel Go Now

M&A Essentials: Understanding Purchase Price Cohen & Company

(6 days ago) M&A Essentials: Understanding Purchase Price – April 11, 2019 by Jim Lisy. Selling a business is a complex endeavor. As advisors to business owners and shareholders of private companies, we have helped companies to navigate the process from beginning to end.

Category:  Travel Tips Go Now

Craig Frankford, CPA Cohen & Company Cohen & Company

(7 days ago) A proud resident of downtown Cleveland, Ohio, Craig admits he jumps at the chance to travel to warm destinations when possible. He is an avid Cleveland sports fan, coveting his Cleveland Browns season tickets, and is always up for trying a new brewery or distillery, or …

Category:  Travel Go Now

Understanding Cryptocurrencies and Their Place in Our

(9 days ago) Imagine a world where you travel across borders without exchanging currencies because cryptocurrencies have no geographic boundaries. Generally speaking, as societal acceptance of cryptocurrencies has risen over the past several years, there has been a dramatic rise in their value. And, as with any asset, an increase in demand means an increase

Category:  Travel Go Now

Pre, During and Post Bankruptcy: Financial Reporting to Be

(3 days ago) Those could include travel, transportation, energy, and discretionary retail and manufacturing. While there are many balls to juggle during these challenging times, accounting and financial reporting still remains very relevant given the environment in which all of us are operating.

Category:  Travel Go Now

Tina Dzik, CPA, MBA Cohen & Company Cohen & Company

(1 days ago) Tina enjoys time spent with her family and friends. She also loves to travel, a hobby that has taken her to London, Paris, Italy and hiking through national parks throughout the U.S. Tina, her husband and their three children live in Strongsville, Ohio.

Category:  Travel Go Now

House Omnibus Spending Bill Extends Tax Breaks, Adds

(9 days ago) Travel expenses related to medical care are deductible, too. Deduction for Qualified Tuition and Related Expenses The above-the-line deduction for higher education expenses reduces a taxpayer’s AGI and is available regardless of whether the taxpayer itemizes (though it generally can’t be taken if certain tax credits for education expenses

Category:  Travel Go Now

Roula Tsaprailis, CPA, MSF, CGMA

(8 days ago) Travel is another favorite of Roula’s. Memorable trips include visiting the beautiful Greek Islands and Paris, where she incorporated another favorite pastime (tennis) when she attended the French Open for the women’s final.

Category:  Travel Go Now

Ken Fu, CPA Cohen & Company Cohen & Company

(2 days ago) Ken lives in Queens, New York. When not working, he enjoys exploring the city for new places to eat and finding a great cup of coffee at a café, if not brewing one at home. He has a penchant for dry red wines and loves to travel abroad to experience different cultures.

Category:  Travel Go Now

6 Ways the COVID-19 Pandemic Could Affect Financial

(3 days ago) The outbreak may disrupt supply chains and productivity. Companies with reduced or idle production capacity may be unable to allocate overhead costs to inventory as they usually do. In addition, inventory that can’t be turned over because of travel restrictions …

Category:  Travel Go Now

Josh Messina, CPA, MT Cohen & Company Cohen & Company

(4 days ago) Josh Messina, CPA, MT. Partner, Tax. Josh has a knack for great client service and an ability to communicate issues, provide consistent follow-up, and work with other service providers to keep his clients’ businesses running smoothly in times of flux. Location: Akron Email: [email protected]cohencpa.com Phone: 330.255.4342.

Category:  Travel Tips Go Now

Revenue Recognition Standards Clarify Principal vs. Agent

(3 days ago) Revenue Recognition Standards Clarify Principal vs. Agent Considerations – January 27, 2020 by Nevin Nussbaum. The new revenue recognition standard codified in FASB Accounting Standards Codification (ASC) 606 has brought a number of …

Category:  Travel Tips Go Now

SBA’s Disaster Declaration Makes Loans

(Just Now) shops, travel agencies, and wholesalers. SBA’s Economic Injury Disaster Loan Basics . What other criteria is involved? The applicant business must have a physical presence in the declared disaster area. An applicant’s economic presence alone in a declared area does not meet

Category:  Travel Go Now

Raymond To, CPA, MBA Cohen & Company

(2 days ago) CPA, MBA. Manager, Tax. Though he initially may seem reserved, Raymond is easygoing and enjoys getting to know clients. Attentive and detail oriented, he is committed to providing a quality work product and exceptional service. Location: Cleveland Email: [email protected]cohencpa.com Phone: 216.649.5503.

Category:  Travel Tips Go Now

Neil Kaback, CPA, CGMA Cohen & Company Cohen & Company

(3 days ago) Neil and his wife reside in Liberty Township, Ohio, and have three adult children. Neil enjoys golf and following the Cleveland Indians, Cavs and Browns. Additionally, he and his wife love to travel and experience new adventures.

Category:  Travel Go Now

Jeff Megaro, CPA Cohen & Company Cohen & Company

(3 days ago) Jeff resides in Baltimore, Maryland, with his two children and loves to play basketball, football and softball. Combining his love for sports with his love for travel, Jeff hopes to one day travel around the United States and visit as many ballparks as he can along the way.

Category:  Travel Go Now

Questions Businesses Ask About Claiming the Employee

(1 days ago) 5 Common Questions Businesses Ask About Claiming the Employee Retention Credit – February 19, 2021 by Jonathan Williamson. This blog was updated 4/7/21 First introduced under the CARES Act in March 2020, the Employee Retention Credit (ERC) is a fully refundable tax credit that benefits eligible employers who have continued to pay employees while experiencing COVID-19 …

Category:  Travel Tips Go Now

PPP Round 2: Who, What & When

(5 days ago) •Amounts collected for another by a travel agent, real estate agent, advertising agent, conference management service provider, freight forwarder or customs broker. •Any forgiveness amount of a First Draw PPP Loan that a borrower received in calendar year 2020 13

Category:  Travel Go Now

HELPING PRIVATE COMPANIES SEIZE OPPORTUNITIES // …

(7 days ago) environment. Imagine a world where you travel across borders without exchanging currencies because cryptocurrencies have no geographic boundaries. Generally speaking, as societal acceptance of cryptocurrencies has risen over the past several years, there has been a dramatic rise in their value. And, as with any asset, an increase in demand

Category:  Travel Go Now

Christina Roman, CPA, MT Cohen & Company

(7 days ago) Christina gained five years of experience at a Big 4 firm, where she specialized in personal taxation and fiduciary trust taxation. In her current role at Cohen & Company, she primarily advises high-net-worth clients, focusing on tax returns, compliance, estimates and …

Category:  Travel Tips Go Now

Keith Klodnick, CPA Cohen & Company Cohen & Company

(6 days ago) A four-year letter winner and former co-captain of The Ohio State University Baseball Team, Keith still enjoys playing sports. He coaches for his son’s football and baseball teams and makes time to travel and attend the theater. He, his wife and their two children live in Brecksville, Ohio.

Category:  Travel Go Now

Consolidated Appropriations Act Extends COVID-19 Employer

(1 days ago) Consolidated Appropriations Act Extends COVID-19 Employer Payroll Tax Credits – December 28, 2020 by Cynthia Pedersen. On December 21, 2020, after more than eight months of deliberation, Congress passed the Consolidated Appropriations Act, 2021 to provide much needed relief to Americans and their employers dealing with the ongoing repercussions of the COVID-19 pandemic.

Category:  Travel Tips Go Now

Nicole Clabaugh Cohen & Company Cohen & Company

(7 days ago) Nicole’s range of client work has led her to become well-versed in maritime, film, professional sports, financial services, real estate entities and unique family dynamics. Actively involved in firm training, staff development and client onboarding for the firm's Advisory Practice. Nicole lives in Shrewsbury, Pennsylvania.

Category:  Travel Tips Go Now

Kevin Kray, CPA Cohen & Company Cohen & Company

(2 days ago) Kevin has spent his entire career focused on the investment industry. Responsible for the overall coordination and execution of audits, he works with various client types and investment vehicles — from investment advisers and outside service providers to mutual funds, hedge funds, exchange-traded funds and closed-end funds.

Category:  Travel Tips Go Now

Cynthia Pedersen, JD, LLM Cohen & Company Cohen & Company

(8 days ago) Cynthia lives in Baltimore City, Maryland, but often spends time in New York City working with clients and networking. Always ready to strike out of her comfort zone, Cynthia loves to travel the world. Her goal is to set foot on each continent before she retires someday.

Category:  Travel Go Now

Marissa Holman, CPA, MT Cohen & Company

(6 days ago) Marissa resides in Akron, Ohio. She enjoys exploring the Summit County Metro Parks trails, watching movies, and spending time with friends and family — especially her four siblings. Marissa loves to travel, with Estes Park, Colorado, making the top of her list to date!

Category:  Travel Go Now

Jason Zeman, CPA, CMA, MBA Cohen & Company Cohen & …

(3 days ago) Jason Zeman, CPA, CMA, MBA Senior Manager, Management Consulting. Jason is a former accountant, who now focuses on all things finance transformation related. Among his passions are helping clients optimize close processes and providing better insights to leadership teams. Location: Cleveland Email: [email protected] Phone: 216.649.1715.

Category:  Travel Tips Go Now

Related topics