Discussion:Accountable Reimbursement Plan - S-Corp
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Discussion Forum Index --> Tax Questions --> Accountable Reimbursement Plan - S-Corp
| 31 January 2007 | |
| I've been through this issue numerous times, and read the various posts about S-Corp.'s reimbursing their 100% shareholders for business expensese (i.e. business use of home, auto, etc.).
My question is this: when we talk about accountable plans, do actually have your clients draft a document outlining the requirements of what is reimburseable, such that it meets the rules of an Accountable Plan? Or do you simply have them submit a detailed reimbursement request, and have the S-Corp. pay this? In my experience, I have usually seen the latter method, but I was curious to see if anyone actually went through the exercise of drafting a formal reimbursement plan... | |
| 31 January 2007 | |
| All of our clients have written expense reimbursement plans; even the Mom & Pops. | |
| 23 September 2008 | |
| I've read many discussions regarding the use of accountable reimbursement plans for the items mentioned in the OP (i.e. bus use of home, auto, etc.) and seen this question asked many times but have not seen an answer: What are the mechanics of actually setting up the accountable plan (I'm assuming these are referred to as Sec 62 plans) in the corp? For instance, do you as the corp's accountant assist in setting up the plan or is this best handled by corp attorney? Do templates for accountable plans exist as I have seen for Sec 105 and Sec 125 plans? Or is it as simple as using fancy language to say the corp has a plan that complies with the Reg. 1.62-2 regs? | |
Joshuaaaaaa (talk|edits) said: | 3 October 2008 |
| If you search for "Accountable reimbursement plans" on the net, you'll find a zillion of them. Amazingly, a lot of them are for clergy. I'm not sure why. At any rate, I just used one of those and its now a template for all my clients.
But I still get to charge them as if I did it from scratch. | |
| 3 October 2008 | |
| those ministers need to be held accountable to someone here on earth. | |
| 14 March 2009 | |
| Can an S Corp deduct Meals and Incidental Expenses using per diem rates? I have a new client who claims that an IRS agent told him this could be done. If the answer is yes, does it matter if the actual expenses are less than the per diem rates? | |
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