UPE and Mileage rate?

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  • Super Mom
    Senior Member
    • Jun 2007
    • 1151

    #1

    UPE and Mileage rate?

    I have an LLC planning for next year since some assets are in member's name. He wants to have a mileage log and use the mileage rate, can we do that with UPE or must they set up an accountable plan?
  • Lion
    Senior Member
    • Jun 2005
    • 4699

    #2
    However the partnership agreement reads. If it says the partners will turn in expense accounts to be reimbursed for business mileage from an accountable plan, then that's what your client needs to do. If it says the partnership does not reimburse for business use of partners' vehicles and that it is required they use their personal vehicles for business, then they use UPE. If it says nothing, time for an amendment to the partnership agreement. No matter what, a mileage log is needed.

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    • RitaB
      Senior Member
      • Jul 2008
      • 1382

      #3
      Aaaannnnndddd

      Originally posted by Lion
      No matter what, a mileage log is needed.
      And, no matter what, it won't happen.

      Sorry, I'm a little cranky.
      If you loan someone $20 and never see them again, it was probably worth it.

      Comment

      • Super Mom
        Senior Member
        • Jun 2007
        • 1151

        #4
        Originally posted by Lion
        However the partnership agreement reads. If it says the partners will turn in expense accounts to be reimbursed for business mileage from an accountable plan, then that's what your client needs to do. If it says the partnership does not reimburse for business use of partners' vehicles and that it is required they use their personal vehicles for business, then they use UPE. If it says nothing, time for an amendment to the partnership agreement. No matter what, a mileage log is needed.
        The agreement needs to be amended and they want to use UPE. I was just wondering if I could use the standard mileage rate with UPE.

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