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#3
04-13-2005, 05:54 PM
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 Re: Expenses reimbursed by an employer jik[at]kamens.brookline.ma.us (Jonathan Kamens) writes: - quote - > "Den" <nul[at]nul.nul> writes:
Not true.> > Do I need to declare as income on my federal / state tax > > returns, money that is refunded to me by my employer in > > respect of business expenses that I have incurred and paid > > for out of my pocket on behalf of the employer? > If they were legitimate business expenses, then no. If the employer does not have a so-called "accountable plan" (google on it), then the employer is required to put the reimbursements on the employee's W-2 and the employee reports the expenses as a misc deduction subject to the 2% of AGI reduction (yes, ouch), no matter how legitimate the expenses are. If the employer does have an "accountable plan", then neither expenses nor reimbursements get reported in any employee-related tax paperwork. -- Rich Carreiro rlcarr[at]animato.arlington.ma.us << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#2
04-12-2005, 08:36 PM
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| Re: Expenses reimbursed by an employer Den wrote: - quote - > Do I need to declare as income on my federal / state tax
No> returns, money that is refunded to me by my employer in > respect of business expenses that I have incurred and paid > for out of my pocket on behalf of the employer? ChEAr$$$, Harlan Lunsford, EA n LA 11 Apr 2005 4 days and counting...... down.....\ << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#1
04-12-2005, 08:36 PM
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| Re: Expenses reimbursed by an employer "Den" <nul[at]nul.nul> wrote: - quote - > Do I need to declare as income on my federal / state tax
Not unless the reimbursement is included in box 1 of your> returns, money that is refunded to me by my employer in > respect of business expenses that I have incurred and paid > for out of my pocket on behalf of the employer? W-2. If it is, you need to look into the employee business expense deduction on Schedule A of the 1040. -- Phil Marti Clarksburg, MD << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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04-12-2005, 07:57 PM
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| Re: Expenses reimbursed by an employer "Den" <nul[at]nul.nul> writes: - quote - > Do I need to declare as income on my federal / state tax
If they were legitimate business expenses, then no.> returns, money that is refunded to me by my employer in > respect of business expenses that I have incurred and paid > for out of my pocket on behalf of the employer? You can't use "business expenses" as a way to hide untaxed wages. If the IRS doesn't consider a particular expense for which you are reimbursed a legitimate business expense, then you must declare the reimbursement as income, and furthermore your employer probably has to pay employment taxes on it and include it in your W-2. There are things that are clearly legitimate business expenses. There are things that are clearly not. And there are things in the middle. For more information, consult with your accountant or go to www.irs.gov and search for "business expenses". << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
04-11-2005, 08:30 PM
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| Expenses reimbursed by an employer Group: Do I need to declare as income on my federal / state tax returns, money that is refunded to me by my employer in respect of business expenses that I have incurred and paid for out of my pocket on behalf of the employer? Cheers D << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| employer, expenses, reimbursed |
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