- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
If the business has an "accountable" expense plan, then the business can reimburse employees or shareholders tax-free for ordinary and necessary business expenses. Those expenses are also deductible by the business as ordinary and necessary business expenses.
Because you are reimbursed tax-free, there is nothing else for you to do, there is no deduction for you personally, nor do you report the remibursement as taxable.
‎November 16, 2024
11:49 AM