Travel and Entertainment Expense Compliance Requirements, Plus Relationship with W-2s

Gregory J. Simms is Keynote Speaker at ComplianceKey. He is President and CEO founded DME Advanta, LLC. in 2006 where he developed this revolutionary new Durable Medical Equipment Revenue Program in the Healthcare Industry. He has provided this DME Revenue Program model successfully across the country for hundreds of medical practices in numerous practice specialties. Gregory J. Simms has over twenty years of experience at the executive level in the medical, healthcare and consulting industries. His expertise is in the area of Legal Compliance, Billing, Coding Operational Management, Inventory........


Although travel and entertainment expenses are often a small component of overall corporate expenditures, they are one of the highest inherent risk areas for inappropriate costs, fraud, and triggering an IRS audit. If not properly handled, T&E records are employee's best friend but can be a company's internal control and tax compliance nightmare. T&E inherently provides prime opportunity for unauthorized or inappropriate and lavish expenditures by executives and personnel. When this occurs, there is more than just dollars at stake for the company. Failure to exercise due diligence in regards to travel and entertainment expenditures can impact the company's reputation, operations and compliance with proper rules and regulations. 
Regulators and legislation suggests an annual review of executive expenditures. However this can be a risk laden area for compliance professionals to review due to the internal political ramifications. Timely review of travel and entertainment expenses is an important component of maintaining proper internal controls and the exercise of due diligence. Failure to comply with IRS record keeping rules as described in IRS Regulations 1.274 may result in disallowance of expenses, dividend of disallowed expenses to shareholders, or including expenses as wages in Form W-2.

Why should you attend this webinar?

One objective is to provide you with guidelines for developing a Procedural Manual for persons with T&E expenditures and a Processing Manual for persons who review T&E expense reports prior to payment.
A companion objective is to reduce the risk of an extensive IRS audit of travel, entertainment, wages, dividends, fringe benefits, and related areas. The keys to reducing the risk of IRS changes is knowing the laws and the extended recordkeeping rule requirements. We will simplify the tedious recording keeping rules for you. 
If you are reviewing entertainment expenses and find discrepancies, how often do you hear management say "What's the big deal? Or...How bad could it be?" This is a prime indicator that there is a gap in understanding of the importance of simple internal controls and a sound control environment. WE plan to help you bridge that gap and impress management on the need for proper recording keeping and monitoring travel and entertainment records. 

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Webinar Id: FSGP003

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Duration: 90 mins

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 $167 (Single Attendee)  $599 (Unlimited Attendee)

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