|
#2
04-26-2004, 02:49 AM
| |||
| |||
 Re: US Bank EE - Mo. Parking Fees Deductible? Ken B. Winger wrote: - quote - > US Bank Employee (EE) uses her car for her job and has the
No. It is a cost of commuting.> following arrangement: > 1. Reimburse for all mileage, hotel, and meals. > 2. Require to return in all reciepts by the EOM. > 3. US Bank deducts her Monthly Parking from her > personal checking account. > Based on above items it appears she falls under the > "Accountable Plan" refer to in Pub 463. > Question: Wouldn't her Monthly Parking Fees be deductible > on Form 2106 and thereby be subject to 2% AGI? << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
|
#1
04-23-2004, 03:39 AM
| |||
| |||
| Re: US Bank EE - Mo. Parking Fees Deductible? Ken B. Winger at kbwing[at]comcast.net wrote: - quote - > US Bank Employee (EE) uses her car for her job and has the
I doubt they reimburse her for commuting miles.> following arrangement: > 1. Reimburse for all mileage, hotel, and meals. - quote - > 2. Require to return in all reciepts by the EOM.
Sounds like a convenience, not a business expense.> 3. US Bank deducts her Monthly Parking from her > personal checking account. Employers don't typically reimburse for monthly parking in a downtown location without creating additional compensation. All freely provided advice guarantee correct or double your money back Frank S. Duke, Jr. CPA Cincinnati, OH USA << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
|
04-22-2004, 06:54 AM
| |||
| |||
| Re: US Bank EE - Mo. Parking Fees Deductible? "Ken B. Winger" <kbwing[at]comcast.net> wrote: - quote - > US Bank Employee (EE) uses her car for her job and has the
No. Parking is not a valid employee expense. (It could be> following arrangement: > 1. Reimburse for all mileage, hotel, and meals. > 2. Require to return in all reciepts by the EOM. > 3. US Bank deducts her Monthly Parking from her > personal checking account. > Based on above items it appears she falls under the > "Accountable Plan" refer to in Pub 463. > Question: Wouldn't her Monthly Parking Fees be deductible > on Form 2106 and thereby be subject to 2% AGI? tax free if the employer paid for it as an employee benefit, up to $195 per month. Ask her to see if the bank will make a deal. Lower her salary and pay the parking. Saves on FICA and unempoyment) << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
|
#-1
04-21-2004, 06:24 AM
| |||
| |||
| US Bank EE - Mo. Parking Fees Deductible? US Bank Employee (EE) uses her car for her job and has the following arrangement: 1. Reimburse for all mileage, hotel, and meals. 2. Require to return in all reciepts by the EOM. 3. US Bank deducts her Monthly Parking from her personal checking account. Based on above items it appears she falls under the "Accountable Plan" refer to in Pub 463. Question: Wouldn't her Monthly Parking Fees be deductible on Form 2106 and thereby be subject to 2% AGI? << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| bank, deductible, fees, parking |
Similar Threads | ||||
| Thread | Forum | Replies | Last Post | |
| Are Order Cancellation Fees Tax Deductible? David Kilo: My broker, Interactive Broker, nicks me 95 cents or so everytime I cancel a limit order, a for a few other types of order cancellations. Can I... | Taxes | 8 | 04-26-2004 02:30 AM | |
| Rhode Island Auto fees deductible? Don Baaso: Are any part of Rhode Island automobile registration fees deductible on Sch A? How about the City of Pawtucket excise tax on a car? Thanks in... | Taxes | 3 | 02-24-2004 08:33 AM | |
| Parking Lot Fees Jerry Buchanan: Church treasurer again -- We collect $2500 per year from a nearby business that uses our parking lot for their employees. I have read the IRS's... | Taxes | 3 | 01-03-2004 04:15 AM | |
| Bank fees for BillPay via Money Mike: I am getting nailed my Wells Fargo for using Money's BillPay feature. Is there a national bank out there that you can get this feature for free? ... | Microsoft Money | 1 | 07-17-2003 02:59 PM | |
| Thread Tools | |
| Display Modes | |
| |
Linear Mode
