To assist your clients with understanding what the IRS allows for unreimbursed employee business expenses
, refer to IRC Sec.
Employer-required lodging expenses may now be deductible as an employee business expense
or, if paid or reimbursed by the employer, excluded under an accountable plan, even if the employee is not away from home.
In addition, the business connection requirement is not satisfied if an employer pays an amount to an employee regardless of whether the employee actually incurs or is reasonably expected to incur deductible business expenses
Not only that, but you can take a photo of the receipt, invoice or any other documents as a "proof of claim" -- meaning it meets the IRS' standards of tracking a business expense
Unfortunately, abuse of business expenses
is a widespread problem in both the private and public sectors, but given the scale of the reaction to the apparent abuse by our MPs, there is little tolerance of such inappropriate conduct, especially in the current recession.
Clearly, amounts excludible from gross income or deductible as ordinary and necessary business expenses
may be paid in terms other than cash.
With Pocket Quicken, users quickly and easily look up account balances, account registers, expense and income category reports, even business expense
Thus, severance payments are deductible business expenses
However, some of the expenses may be ordinary and necessary business expenses
On her tax return, the taxpayer claimed a home office deduction for the room in her home and business expense
deductions for a computer and printer she used at home for work.
The TAM rejects this distinction and recognizes that an expense incurred as part of a general plan of remediation most likely will be capitalized even though the same expense, if it was not incurred as part of such a plan, would be deductible as an ordinary and necessary business expense
G also proposes to pay the credit card company directly for all business expenses
that the employees charge to the card.