Questions tagged [business-expense]
11 questions
12
votes
3 answers
Why do companies need to keep invoices for their business expenses as well as receipts?
I understand that when a limited company makes business expenses, it should keep track of invoices that their suppliers issue them, as well as receipts showing that the company has paid these invoices.
If a company has the receipt showing that it…
Gabriel
- 259
- 2
- 5
3
votes
4 answers
Determining if hotel stay is a necessary travel expense
In California, employers are required to reimburse employees for work-related travel expenses.
Say that my employer asks me to attend a one-time meeting at 9am in a different city. If the city is only 30 minutes away, it would be reasonable to…
Kevin
- 131
- 4
3
votes
1 answer
Is it legal to deny employee reimbursements for meat?
WeWork appears to have instituted a policy where they prohibit their budgets from being used for purchases of red meat, pork and poultry, citing sustainability.
www.theguardian.com/environment/2018/jul/13/wework-meat-events-expense-ban
“New…
cnst
- 5,128
- 4
- 33
- 58
2
votes
1 answer
non-profit donations and tax preparation deduction
Before 2018, tax preparation could be deducted. Most commercial services used it as part of their marketing, suggesting it was "free" because it could be deducted.
After the (doubly ironically named) Tax Cuts and Jobs Act (TCJA) that deduction was…
gcb
- 123
- 4
1
vote
1 answer
What to do if I am personally invoiced for a business expense
I've formed a new limited company of which I am the director and sole shareholder. My understanding is that when I make business expenses, I should now ask the supplier to make out the invoice to the limited company rather than to me…
Gabriel
- 259
- 2
- 5
1
vote
1 answer
What should you do if you mistakenly charge personal expenses to a company debit card?
If someone accidentally uses the business (LLC) bank account for a personal expense, what does he/she need to do rectify the problem from a tax/legal perspective?
Is it as simple as having the person who made the mistake contribute that much money…
pushkin
- 333
- 3
- 12
1
vote
1 answer
Do items that I purchase for a business and for myself count as business expenses?
I know that when creating a business (specifically an LLC), I need to keep track of business expenses.
But what exactly constitutes a business expense? If I buy a camera that I use for the business, but also for personal use, is that a business…
pushkin
- 333
- 3
- 12
0
votes
2 answers
Overdue Business Expenses [USA]
Based in NH. Been with the company for 7 years.
I have quite a large outstanding business expense (over $20k) with my employer, and there is no sign of it being paid off any time soon despite being told it will be. It has accumulated over time,…
Don't Tell My Boss
- 19
- 3
0
votes
3 answers
Shared expenses for a home office and piercing the veil
I have a single-member LLC and I am about to start software consulting with it for the first time. I have a home office and I plan on deducting utilities, internet, and so forth on my taxes. I will only be able to deduct 5-10% of the cost of these…
rraz
- 1
0
votes
0 answers
How to calculate per-diem rates for an Employee of a German company who works at home in Austria and travels to Germany for two weeks
The per-diem rates listed here
https://www.bundesfinanzministerium.de/Content/DE/Downloads/BMF_Schreiben/Steuerarten/Lohnsteuer/2023-11-21-steuerliche-behandlung-reisekosten-reisekostenverguetungen-2024.pdf?__blob=publicationFile&v=1
are for…
bradgonesurfing
- 189
- 5
-1
votes
1 answer
In U.S. is there any IP concern when my own company pays expenses for prototype development?
This question pertains to U.S. law, and California specifically if that matters.
Suppose person A founds a company that is owned by themselves and a trusted partner person B. Person A has a majority stake in it. Person A extends a loan of a few…
benjamin37
- 19
- 2