Dent Moses

APRIL 1, 2024

Expense reimbursement remains a significant challenge for many businesses in the accounting landscape. To address these issues, businesses are increasingly turning to software solutions that streamline the reimbursement process and enhance accuracy and efficiency. Please get in touch with your Dent Moses advisor for assistance.

Expense Reimbursements 52

Expense Reimbursements Technology Approval Workflows accounting and finance 52

RogerRossmeisl

OCTOBER 28, 2020

For example, crooked employees might: Steal receipts or cash on hand, Alter or forge checks, Submit fictitious invoices, Pay personal expenses with practice funds, or Cheat on their expense reimbursement requests. Unfortunately, the complexity of medical practice paperwork discourages many physicians from involvement.

Expense Reimbursements 132

Expense Reimbursements Healthcare CPA 132

CPA Practice

DECEMBER 22, 2023

Inappropriate Personal Spending/Expense Reimbursement This form of asset misappropriation refers to when an employee uses company credit cards and/or funds for personal expenses, submits expense reimbursement requests for non-business related purchases or makes purchases in excess of normal spending policies.

Expense Reimbursements 117

Expense Reimbursements payroll general ledger financial statements 117

CPA Practice

JULY 24, 2023

Justworks, a benefits, payroll and HR technology provider, has launched Expenses, an expense management tool that Justworks PEO customers can use to process expense reimbursement requests alongside payroll. Expenses consolidates tools and minimizes the risk of error when reimbursing employees for out of pocket expenses.

Expense Management 94

Expense Management Expense Reimbursements Approval Workflows payroll 94

CPA Practice

AUGUST 7, 2023

Justworks, a benefits, payroll and HR technology provider, has launched Expenses, an expense management tool that Justworks PEO customers can use to process expense reimbursement requests alongside payroll. Expenses consolidates tools and minimizes the risk of error when reimbursing employees for out of pocket expenses.

Expense Management 94

Expense Management Expense Reimbursements Approval Workflows payroll 94

Katz,Sapper&Miller

MAY 4, 2020

On April 30, the IRS issued Notice 2020-32, which states that the expenses that provide the basis for loan forgiveness under the Paycheck Protection Program (PPP) will be non-deductible.

Expense Reimbursements 54

Expense Reimbursements income tax Tax 54

SkagitCountyTaxServices

MAY 12, 2021

You probably didn’t realize that there are actual pros and cons to expense reimbursement for employees, etc. Now, let’s dive into handling business expenses paid by employees. If you’ll forgive me, I’m going to get pretty geeky today. or using a company cc. You gotta spend money to make money.

Expense Reimbursements 40

Expense Reimbursements Employee Expense Reimbursement Tax audit 40

Patriot Software

OCTOBER 14, 2022

Sometimes, an employee might pay for a business expense out of their own pocket. When that happens, you can reimburse the employee. An employee expense reimbursement does come with some complications. Are reimbursements taxable? Do you need to report the reimbursement? What are expense reimbursements?

Employee Expense Reimbursement 72

Employee Expense Reimbursement Expense Reimbursements payroll 72

CPA Practice

MARCH 18, 2024

This miscellaneous expense deduction was suspended from 2018 through 2025, but will be revived by the TCJA in 2026. Moving expense reimbursements: A special tax code provision provided a tax exclusion for moving expense reimbursements provided by employers to employees.

Tax 106

Tax Expense Reimbursements income tax 106

PYMNTS

NOVEMBER 8, 2020

The release says the expensemanager solution will help fill a hole in the market for a mid-market option to automate the expense reimbursement process as well as purchase orders and supplier invoice, receipt, approval and payment process.

Expense Management 79

Expense Management Technology Expense Reimbursements accounts payable 79

Patriot Software

AUGUST 30, 2022

Adoption assistance benefits are payments and expense reimbursements employers provide to employees […] READ MORE. If so, read on to review the benefits of providing adoption assistance and the steps you need to take. What are adoption assistance benefits?

Expense Reimbursements 74

Expense Reimbursements payroll 74

Withum

OCTOBER 7, 2024

Expenses paid under an accountable plan are not treated as income to the employee. If not properly reported and documented, business-related expense reimbursements can be considered taxable compensation to employees and therefore subject to applicable payroll taxes. What is an accountable plan?

Expense Reimbursements 59

Expense Reimbursements Account accountant accounted 59

Randal DeHart

AUGUST 18, 2023

Expense reimbursement fraud is the last thing you want to face. Here we discuss employee expense fraud, the reasons behind it, and, most importantly, how to prevent it from happening to your construction business. As a small business owner, you always look to keep your company running efficiently.

Construction 76

Construction Expense Reimbursements bookkeeping 76

Airbase

JANUARY 11, 2023

At Airbase, we’ve heard stories about the problems that our customers used to have when closing the books, with entries for spend flooding in from all areas on corporate cards, via purchase orders, and from expense reimbursement requests.

Technology 130

Technology Spend Management Platform Expense Reimbursements accounting and finance 130

SMBAccountant

NOVEMBER 17, 2021

This can include deductions for Social Security, Medicare, federal and state income taxes, health insurance, 401k, child support, expense reimbursements, and many others. When posting the net pay as the business’s expense, all those deductions that were paid by the employee are reducing the company’s expense.

payroll 130

payroll payroll tax income tax Expense Reimbursements 130

ThomsonReuters

MAY 4, 2023

29, 2023) Available at [link] The IRS Chief Counsel’s office has released a memorandum that addresses the substantiation requirements for medical and dependent care expenses and the consequences of various substantiation shortcuts. IRS Chief Counsel Memorandum 202317020 (Mar. The memo addresses six situations.

Expense Reimbursements 69

Expense Reimbursements audit Tax Sales 69

ThomsonReuters

APRIL 13, 2023

Expenses that merely benefit an individual’s general health or well-being are not considered to be for medical care (see our Checkpoint article ). For more information, see EBIA’s Cafeteria Plans manual at Sections XX.D (“Expenses Reimbursed Must Be for Medical Care”), XX.L.4

Expense Reimbursements 98

Expense Reimbursements Tax Account accounted 98

Withum

JULY 20, 2022

Expense reimbursement schemes (11% of cases) – an employee submits and gets reimbursed for fictious or personal expenses via the company’s expense reimbursement process. Non-cash schemes (18% of cases) – theft of physical assets, investments, or proprietary information. Corruption.

Expense Reimbursements 81

Expense Reimbursements financial statements public accounting Education 81

ThomsonReuters

APRIL 28, 2022

However, it reminds administrators of the importance of obtaining adequate and appropriate substantiation before reimbursing otherwise personal items and highlights the additional challenges involved with dual-purpose expenses.

Expense Reimbursements 105

Expense Reimbursements Tax Account accounted 105

ThomsonReuters

JULY 29, 2021

These types of payments could potentially be reimbursable. For more information, see EBIA’s Cafeteria Plans manual at Sections XX.D (“Expenses Reimbursed Must Be for Medical Care”) and XX.H (“Health FSAs Cannot Reimburse Insurance Premiums”).

Expense Reimbursements 98

Expense Reimbursements Tax Account accounted 98

PYMNTS

JANUARY 6, 2021

One of the most popular is to link a T&E solution to a corporate card product to facilitate integration of payment information; another strategy is to allow for employees to use personal payment methods and capture data after the fact to facilitate expense reimbursements.

Expense Reimbursements 112

Expense Reimbursements Expense Management Technology Entertainment 112

ThomsonReuters

FEBRUARY 24, 2022

A deceased employee’s balance may not be used to reimburse the medical expenses of anyone other than those individuals (there is a limited exception for certain state governmental HRAs), or paid for any reason other than medical expense reimbursement. 12 (“Forfeit Account Balances or Permit Spend-Downs?”), XXII.C.2

Expense Reimbursements 91

Expense Reimbursements Tax Account accounted 91

ThomsonReuters

MARCH 23, 2023

They also remind administrators of the importance of obtaining adequate and appropriate substantiation before reimbursing claims and highlight the challenges involved with certain expenses.

Expense Reimbursements 98

Expense Reimbursements Tax Account accounted 98

ThomsonReuters

SEPTEMBER 30, 2022

For more information, see EBIA’s Fringe Benefits manual at Section XXI.G (“Travel Expense Reimbursements: Substantiation”). If substantiation is required, any unsubstantiated portion of the allowance must be returned or treated as taxable wages. Contributing Editors: EBIA Staff.

Expense Reimbursements 93

Expense Reimbursements Transportation Tax Account 93

PYMNTS

NOVEMBER 9, 2020

The partnership, which makes expensemanager the first local Australian partner for Sage Intacct, will allow customers a streamlined integration method while providing a mid-market option to automate the expense reimbursement process. UK Digital Bank Starling Launches New Capital Drive as Founder Anne Boden Eyes IPO.

Finance 76

Finance B2B Expense Reimbursements Expense Management 76

PYMNTS

APRIL 2, 2019

The pilot, Visa added, is focused on treasury banks interested in contractor payouts and out-of-pocket expense reimbursements that can be sent directly to a recipient’s eligible debit card, as transactions are done through Visa’s real-time push payments solution. The pilot program is slated to debut in the Fall of 2019.

NetSuite 80

NetSuite Expense Reimbursements 80

ThomsonReuters

FEBRUARY 23, 2023

For instance, if a client repeatedly fails to properly record their business expenses, explain to them why it is important to be compliant. Then introduce them to a tool they can use, like an expense reimbursement worksheet, to help change their behavior.

Tax 105

Tax Expense Reimbursements Education Account 105

Withum

NOVEMBER 3, 2022

With the audit underway, and as Jack evaluated the union’s process, they found that among Sherry’s responsibilities, she reviewed and approved employee expense reimbursements, processed payroll (through which employee reimbursements were processed), and managed special events.

Employee Expense Reimbursement 52

Employee Expense Reimbursement Expense Reimbursements Employee Reimbursement Software cpas 52

PYMNTS

OCTOBER 29, 2020

Smart cards are gaining popularity in the business world as the pandemic appears to be exacerbating the pre-existing problem of employees spending significant sums in the services of their companies only to then have to battle expense-reimbursement systems to get their money back.

Expense Management 70

Expense Management Expense Reimbursements B2B Maine 70

LSLCPAs

NOVEMBER 8, 2022

We advise our clients to keep their HSA funds in the account and not to withdraw funds for medical expense reimbursement. To withdraw or not to withdraw funds from your HSA: what should you do? Here’s why: The HSA can be invested and the investment earnings grow tax free. It is even better than a.

Expense Reimbursements 52

Expense Reimbursements cpas Account accountant 52

ThomsonReuters

FEBRUARY 23, 2023

For instance, if a client repeatedly fails to properly record their business expenses, explain to them why it is important to be compliant. Then introduce them to a tool they can use, like an expense reimbursement worksheet, to help change their behavior.

Tax 98

Tax Expense Reimbursements Education Account 98

ThomsonReuters

MARCH 11, 2021

For more information, see EBIA’s Fringe Benefits manual at Sections II.E (“Employee Business Expense Reimbursements”) and XXI.G (“Travel Expense Reimbursements: Substantiation”). The post What Are the Tax Consequences of Providing Per Diem Payments for Employee Travel Expenses? Contributing Editors: EBIA Staff.

Expense Reimbursements 59

Expense Reimbursements Tax Hawaii Alaska 59

Withum

APRIL 19, 2022

For a demonstration of how easy it is to get started with Power Apps and Power Automate, check out our on-demand webinar , “Art of the Possible for the Power Platform for Finance, ” where you’ll see Withum build a corporate credit card request form, a monthly closing checklist workflow, an expense reimbursement request system and more.

Technology 105

Technology Expense Reimbursements Start-ups accounting and finance 105

ThomsonReuters

MARCH 4, 2021

But the suspension continues to take its toll on employees who have incurred unreimbursable business expenses that are no longer deductible. Contributing Editors: EBIA Staff. The post IRS Issues 2020 Form 2106 and Instructions appeared first on Tax & Accounting Blog Posts by Thomson Reuters.

Expense Reimbursements 52

Expense Reimbursements Government Tax Account 52

Xero

SEPTEMBER 28, 2022

For example, expense management apps make it faster than ever to review expenses, reimburse employees, and close your books each month. Apps help support flexible working. Cloud based apps make it easy to work from wherever you need to be.

Technology 99

Technology Expense Reimbursements payroll Expense Management 99

PYMNTS

MARCH 4, 2020

26 percent: Share of hearing-impaired consumers not buying hearing aids due to expense and demeaning purchase experiences. involving expense reimbursement. Data: $68K: Median fraud loss in the spend management industry. 1K: Number of robots DHL has recently added to its existing warehouse locations.

Expense Reimbursements 52

Expense Reimbursements Spend Management Sales Retail 52

Going Concern

SEPTEMBER 15, 2023

“I have received a few questions about the ‘special payroll’ that was supposed to contain the 10% bonus + Memorial Day holiday retro pay + May expense reimbursements,” the human resources staffer said. On Thursday, they were told they would be getting most of what they were owed — but not all of it.

accounting firms 126

accounting firms payroll South Dakota North Dakota 126