I think I know what the rules are but please correct me if I'm wrong.
I am going to a PESI Workshop on Fiduciary Returns. I am under the impression that PESI has not bothered to get the seminar approved for CEUs for EAs (I am an EA) but that CEUs are available for CPAs and Attorneys. I know that I can't count the seminar for EA renewal purposes but I claim that I can write the expenses off for tax purposes as if I were getting CEUs. Those expenses will include my rental car, the gas I buy for the car, and my motel.
I will be attending the seminar free in exchange for being the site "Coordinator" - the only representative of PESI on the premises at any time other than the speaker. I know that I will have to recognize income equal to the cost of the Workshop. Can anyone comment on how this should be handled? The company is going to spell out exactly what when and how I am to do everything so it would seem to me that I would be an employee BUT since I won't have any wages from which to withhold my share of Social Security and Medicare Taxes I wonder about that. Also can anyone tell me the tax treatment of the transaction from PESI's point of view? Do they not recognize income equal to the fee they waive and then a wage expense equal to the same amount?
I am going to a PESI Workshop on Fiduciary Returns. I am under the impression that PESI has not bothered to get the seminar approved for CEUs for EAs (I am an EA) but that CEUs are available for CPAs and Attorneys. I know that I can't count the seminar for EA renewal purposes but I claim that I can write the expenses off for tax purposes as if I were getting CEUs. Those expenses will include my rental car, the gas I buy for the car, and my motel.
I will be attending the seminar free in exchange for being the site "Coordinator" - the only representative of PESI on the premises at any time other than the speaker. I know that I will have to recognize income equal to the cost of the Workshop. Can anyone comment on how this should be handled? The company is going to spell out exactly what when and how I am to do everything so it would seem to me that I would be an employee BUT since I won't have any wages from which to withhold my share of Social Security and Medicare Taxes I wonder about that. Also can anyone tell me the tax treatment of the transaction from PESI's point of view? Do they not recognize income equal to the fee they waive and then a wage expense equal to the same amount?
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