I have a client who has the luxury of not having to take money out of his company (S Corp).
There are legitimate expenses incurred by the owner who is entitled to reimbursement. I tell him he can write himself a check and deduct these expenses.
He does write himself occasional reimbursement checks but then does not cash them. Not now, Not ever.
What is the effect? Amending the S corp return such that the deduction is not taken?
There are legitimate expenses incurred by the owner who is entitled to reimbursement. I tell him he can write himself a check and deduct these expenses.
He does write himself occasional reimbursement checks but then does not cash them. Not now, Not ever.
What is the effect? Amending the S corp return such that the deduction is not taken?
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