(Closed) Question for any accountants out there…

posted 6 years ago in Legal
Post # 3
Member
317 posts
Helper bee

@MissLilikoi:  I’m sorry I’m not an accountant and cannot give you any sound advice but will say that I incurred hotel and food expenses while traveling for my employer and when they reimbursed me it wasnt taxable income, it showed up in separate area on my paystub. I think it’s a little odd that they are urging you to deposit to your own account rather than use their card. 

Post # 4
Member
1562 posts
Bumble bee
  • Wedding: November 2011

I’m an MBA Public Accountancy Student and will be testing for my CPA next year.  This is a travel advance, and as such is not taxable income.  The cost is incurred by the employer in the cost of doing business.  Your employer will be able to deduct the cost of business travel on the corporate return.

http://www.irs.gov/pub/irs-tege/fringe_benefit_fslg.pdf

The topic ‘Question for any accountants out there…’ is closed to new replies.

Find Amazing Vendors