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ch. 9 Employee Exp. and Deferred Compensation (Deferred compensation (SEP…
ch. 9 Employee Exp. and Deferred Compensation
Classification and limitations of employee exp.
Nature of the Employment Relationship
Employer-employee relationship defined
Importance of Proper Classification
Litigation issues and Administrative Enforcement
Limitations on Unreimbursed Employee Exp.
2% Nondeductible Floor
Unreimbursed employee business exp.
Professional journals, professional dues, union dues, supplies, and business meals and entertainment (50% of-)
Job-hunting expenses for seeking employment in the same trade or business
The cost and maintenance of special clothing (e.g. uniforms for an airline pilot)
Investment exp.
exp. connected w/ the earning of investment income; such as publications and safe deposit box rentals
Fees Paid For Tax Advice and/or Tax Return Preparation
Exp. allowed in connection w/ a hobby activity
Exceptions to the 2% Floor
gambling losses
impairment-related work exp. for handicapped employees
amortizable bond premiums
certain short sale exp
terminated annuity payments
Reimbursed Exp. - for AGI
Unreimbursed Exp. - from AGI
Travel Exp.
Deductibility of Travel Exp.
Definition of Travel Exp.
General Qualification Requirements
Business v. Pleasure
Foreign Travel
Additional Limitations on Travel Exp.
Transportation Exp.
Definition & Classification
Treatment of Auto Exp.
Reimbursement of Auto Exp.
Entertainment Exp.
50% Disallowance for Meal and Entertainment Exp.
Classification of Exp
Business Meal
Entertainment Facilities and Club Dues
Business Gifts
Limitations on Entertainment Tickets
Reimbursed employee business Exp.
Moving Exp.
Exp. Classification
Definition
treatment of Employer Reimbursements
Education Exp.
Classification of Edu Exp.
General Requirements for a Deduction
Office in Home Exp.
General Requirements
Deductions and Limitations
Deferred compensation
Qualified Pension & Profit-Sharing Plans
Qualification Requirements for a Qualified Plan
Tax Treatment to employees and employers
Nonqualified Plans
Employee Stock Options
Plans for Self-Employed Inv.
SEP IRAs (Simplified Employee Pensions)
Simple Retirement Plans
Individual Retirement Accounts (IRAs)
Traditional IRA
Roth IRA
Coverdell Education Savings Account
Health Savings Accounts
Tax Planning Considerations
Moving Exp.
Providing Nontaxable Compensation to Employees
Rollovers to Roth IRA
Compliance and Procedural Considerations
Substantiating Travel and Entertainment Exp.
Reporting Employee Business Exp.
Reporting Moving Exp.
Reporting Office in Home Exp.
Qualification of Pension & Profit-Sharing Plans