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I'm an outside sales person who travels 3 states. My company…

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I'm an outside sales...

I'm an outside sales person who travels 3 states. My company gives me $2000 per month to be used for hotels, meals , food etc. Can I still deduct those expense up to the point of $2000 per month?

Submitted: 22 days ago.Category: Tax
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4/1/2018
Tax Professional: Tax.appeal.168, Tax Accountant replied 22 days ago
Tax.appeal.168
Tax.appeal.168, Tax Accountant
Category: Tax
Satisfied Customers: 4,559
Experience: 3+ decades of varied tax industry exp. Tax Biz owner
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Tax Professional: Tax.appeal.168, Tax Accountant replied 22 days ago

In brief, you cannot double dip. If you are provided $2,000 a month by the company, you are not able to deduct any of that amount. Prior to the new tax reform, you would have been able to deduct any amount spent above the $2,000 as an unreimbursed employee business expense, but for tax years 2018-2025, this will not be the case.

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Customer reply replied 22 days ago
My question does not concern any amount above the $2000. Can I deduct my hotel expenses and any other travel related expense required to do my job?
Tax Professional: Tax.appeal.168, Tax Accountant replied 22 days ago

NOT if you are being reimbursed for the expenses, you can't, which, from what you have written, you are being reimbursed for the expenses. that's called double dipping. The IRS does not allow that.

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Customer reply replied 22 days ago
I'm actually given the monies in advance to use future travel related expenses.
Tax Professional: Tax.appeal.168, Tax Accountant replied 22 days ago

An advance, a reimbursement, if your employer provides the amount to you, it is not deductible as an expense to you. SEE BELOW:

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If your employer reimbursed you or gave you an advance or allowance for your employee business expenses that's treated as paid under an accountable plan, the payment shouldn't appear as income on your Form W-2.pdf, Wage and Tax Statement. You don't include the payment in your income, and you may not deduct any of the reimbursed amounts.

reference source:

https://www.irs.gov/taxtopics/tc514

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Customer reply replied 22 days ago
The expense dollars does not show up on my W2 form . Instead it is shown on form 2106 entitled , Employee Business Expense.
Customer reply replied 22 days ago
The expense dollars does not show up on my W2 form. Instead it is shown on form 2106 entitled, Employee Business Expense.
Tax Professional: Tax.appeal.168, Tax Accountant replied 21 days ago

I'm not sure how much clearer I can make this, any amount that has been advanced to you or reimbursed to you by an employer, is not deductible to you. It doesn't matter if the amount is shown on the Form W2 or not. You cannot deduct expenses that have been pre-paid or reimbursed by the employer.

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Customer reply replied 21 days ago
Will I have to pay taxes on this 2000 per month given for travel expenses?
Tax Professional: Tax.appeal.168, Tax Accountant replied 21 days ago

The answer to this question is no. Following is information written in my previous response.

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If your employer reimbursed you or gave you an advance or allowance for your employee business expenses that's treated as paid under an accountable plan, the payment shouldn't appear as income on your Form W-2.pdf, Wage and Tax Statement. You don't include the payment in your income, and you may not deduct any of the reimbursed amounts.

reference source:

https://www.irs.gov/taxtopics/tc514

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