Are you doing it right? Solid information for employees and accounting departments …
Employees don't want to be taxed on expense reimbursements – and neither does your company. But what expenses can you legally pay without incurring payroll taxes? Get the guidance you need with Employee Expense Reimbursements: Best Practices to Pay Employees and Avoid Conflicts With the IRS.
This Executive Summary helps you reimburse expenses the right way to avoid taxes and penalties. Your satisfaction is guaranteed.
Avoiding taxes while also avoiding audits, penalties and interest payments – that’s the goal when dealing with the IRS.
Too bad it’s so tricky, especially when you’re dealing with employee expense reimbursements. Not only must you know if an expense is legitimate, you also must determine if it can be reimbursed through accounts payable or if has to go through payroll, with all the tax implications that entails.
But now there’s help, thanks to Employee Expense Reimbursements: Best Practices to Pay Employees and Avoid Conflicts With the IRS. This Executive Summary gives you clear guidelines to follow in areas that are otherwise unclear – areas where mistakes have major consequences.
Employee Expense Reimbursements is authored by employment tax specialist Mindy Harada Mayo. In 32 powerful pages, she guides you through the key areas you must understand to minimize taxes while compensating employees properly – and to avoid the wrath of the IRS. Mayo’s content-rich report covers:
Like we said, it’s tricky. That’s why this Executive Summary is so essential for your bottom line and peace of mind. And it’s why the report concludes with best practices for your payroll and accounts payable departments to follow (starting with communication) to avoid reclassification or disallowance of expenses.
You couldn’t find a better guide to lead you through the expense reimbursement minefield. Meet Mindy Harada Mayo.
Here at Business Management Daily, we take our Executive Summaries seriously. Only true experts are allowed to contribute.
Employment tax specialist Mindy Harada Mayo more than meets our high standards. She is a director in the Human Capital Tax Practice of Ryan, LLC … advises organizations about financial and operational risk management … and represents clients before state and federal agencies during employment tax audits or controversies.
Besides sharing her expertise, Mayo takes a practical approach to teaching by using tax law case studies. They range from a cable company whose installers provide their own tools to a health care firm paying nurses for travel to remote hospitals.
Mayo begins with the facts about the cases, asks you to keep them in mind as you read through the report, then presents the IRS decisions at the end. This illuminating technique greatly enhances your understanding.
Then Mayo dives into the laws and regulations you must understand to stay out of hot water with the IRS. Number one on the list: Have an accountable plan.
It’s right in the IRS regulations, and it’s simply stated: If you reimburse employees for business expenses under an accountable plan, you do not have to withhold and pay payroll taxes.
But the simplicity ends there. You need to know your terms as the IRS defines them. For example:
There’s much more in Employee Expense Reimbursements, because you must know much more to stay out of harm’s way with the IRS.
Employee Expense Reimbursements packs a wealth of actionable knowledge into its 32 pages. Mayo brings you up to speed on all the essentials, including:
As Mayo concludes, “The lines are never black-and-white as to when payments are taxable and when they are not.” Which is why you need her guidance through the vast gray area of Employee Expense Reimbursements.
You’ve already seen why Employee Expense Reimbursements: Best Practices to Pay Employees and Avoid Conflicts With the IRS is a must for your company. But this Executive Summary gives you even more.
As you near the end of Employee Expense Reimbursements, you’ll come back to those case studies that kicked off the report. Will you be able to predict the IRS ruling for each case?
I got the answers right, thanks to Ms. Mayo’s excellent, easy-to-follow guidance. I’m betting you will, too. The case studies are a great way to cement your knowledge and ensure you follow the rules moving forward.
But Mayo doesn’t stop there. She adds an appendix with three handy tables to help you 1) answer everyday questions about record-keeping requirements, 2) determine the annual lease value of a car, and 3) know which IRS forms to use when reporting travel, entertainment, gift, and automobile expenses and reimbursements.
The bottom line? The knowledge you’ll gain from Employee Expense Reimbursements is vital because it ultimately affects your organization’s bottom line, not to mention the compensation and satisfaction of your employees. This report helps you protect both financial and human capital.
The price for this report? You’ll be surprised at how reasonable it is. No, not just reasonable – it’s an exceptional bargain given how important the topic is and how much wisdom Mayo packs into those 32 pages.
Remember, you have my money-back guarantee. If this Executive Summary doesn’t impress you from the introduction to the appendix, I’ll give you a full refund. No hassle. No questions asked.
Order this Executive Summary now. Why pay more in payroll taxes than you have to, or set yourself up for a visit from the IRS?
Philip A. Ash
P.S. We touched upon employee fraud above. Mayo points out that one of the easiest ways to steal from a company is through expense reimbursements. In fact, the Association of Certified Fraud Examiners reports that about 14.5% of all misappropriations involve expense reimbursement fraud.
If this Executive Summary helps you uncover such practices – or prevents them from happening with the safeguards Mayo suggests – you will recoup your modest investment many times over.
Even if all your employees are scrupulously honest, it’s all too easy to make an honest mistake with reimbursements that can cost your company money and put you in jeopardy with the IRS.
Why risk it? Order now.