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If I give my employee a car allowance? What must they turn…

If I give my employee...
If I give my employee a car allowance? What must they turn in to me for it to qualify for an accountable plan?
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3/26/2018
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 17,616
Experience: 15years with H & R Block. Divisional leader, Instructor
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Hello, I'm Robin. Welcome to JustAnswer. I'm reviewing your question now and typing up my reply. I'll post that in just a few moments.

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One of the rules for an accountable plan is that the employee must adequately account to the employer for the expenses.

They adequately account by giving you a statement of expense, an account book, a diary, or a similar record in which they entered each expense at or near the time they had it, along with documentary evidence (such as receipts) of their travel, mileage, and other employee business expenses.

There is a template of a log here

Table 5-2. Daily Business Mileage and Expense Log https://taxmap.irs.gov/taxmap/pubs/p463-012.htm#en_us_publink1000134621

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Customer reply replied 28 days ago
it wouldn’t just have to be mileage then?

If you want to just reimburse for mileage it can be a log. If you are going to reimburse for all then they must show receipts and a written statement

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Customer reply replied 28 days ago
Like if I give them a flat amount of $250 a month? What do I need to get from them to qualify for an accountable plan?

The proof of what he spent that money on as it relates to business.

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I was looking for a template for you

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Customer reply replied 28 days ago
How the employee spent the money?

Yes

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Customer reply replied 28 days ago
the employee would then need to account for at least $250 of business related expenses to offset the money given to them by the employee to the employer.

That is correct

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https://www.patriotsoftware.com/accounting/training/blog/expense-reporting-policy-example/

The above has a very simple example

Please let me know if you need more information.
If not then please scroll up to see the STARS to rate so I am credited.

Robin D.
Robin D., Senior Tax Advisor 4
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