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?
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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. -
Aaaannnnndddd
And, no matter what, it won't happen.Originally posted by Lion View Post
Sorry, I'm a little cranky.
If you loan someone $20 and never see them again, it was probably worth it.Comment
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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.Originally posted by Lion View PostComment
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