Auto Expenses - Standard Mileage Rate

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  • Florida_EA
    Senior Member
    • Aug 2017
    • 153
    #1

    Auto Expenses - Standard Mileage Rate

    If an auto is owned by the S corporation owner what are the rules for deduction of the business miles by the S corporation.
    Tags: None
    • geekgirldany
      Senior Member
      • Jul 2005
      • 2359
      #2
      Accountable Plan needs to be establish to reimburse a shareholder-employee for the standard mileage rate on business use of his car.
      Is the owner a employee? Did he take distributions during the year?

        Comment

        • Florida_EA
          Senior Member
          • Aug 2017
          • 153
          #3
          Originally posted by geekgirldany
          Accountable Plan needs to be establish to reimburse a shareholder-employee for the standard mileage rate on business use of his car.
          Is the owner a employee? Did he take distributions during the year?
          Yes the owner is the employee and yes he took distributions

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