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re: Anyone in sales and have a car allowance/gas card?
Posted on 2/21/13 at 2:40 pm to iAmBatman
Posted on 2/21/13 at 2:40 pm to iAmBatman
quote:
as a reimbursement
This is the key word here. If audited, you need to be prepared to show that you actually incurred costs equal to or exceeding what you received. Any money above those costs are taxable.
For example, your employer can't pay you minimum wage and then call $200K your vehicle allowance. Well, they can, but you will be in serious trouble with the IRS eventually.
This post was edited on 2/21/13 at 2:45 pm
1
Posted on 2/21/13 at 3:09 pm to skidry
Thanks for all of the responses. I'm still not positive I can submit the mileage log but here's the reason I'm asking.
My accountant has told me in the past that I'm not able to get reimbursed for mileage since I have the car allowance/gas card.
My coworker says he's been submitting a mileage log every year and that my accountant is an incompetent dickbag.
I put about 45k per year on my car and probably 70-75% is for business.
My accountant has told me in the past that I'm not able to get reimbursed for mileage since I have the car allowance/gas card.
My coworker says he's been submitting a mileage log every year and that my accountant is an incompetent dickbag.
I put about 45k per year on my car and probably 70-75% is for business.
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