I have a new client this year. Previous accountant took off s corp tax return for meals. He is an insurance adjuster. He might occasionally have to go somewhere that would require him to be away overnight but most of the time his calls are within 2 or 3 hours away at the most.
The charges are minimal, mostly coffee in the morning and lunch or snack while he is out.
I just want to be able to tell these people that I checked it out and he isn't able to take this deduction.
So I wondered if an S corp could have an agreement with shareholder/employee that they would reimburse for these expenses would that be an allowable deduction then. If this was an accountable plan.
He charges this on his company credit card.
Thanks for the help.
Linda F
The charges are minimal, mostly coffee in the morning and lunch or snack while he is out.
I just want to be able to tell these people that I checked it out and he isn't able to take this deduction.
So I wondered if an S corp could have an agreement with shareholder/employee that they would reimburse for these expenses would that be an allowable deduction then. If this was an accountable plan.
He charges this on his company credit card.
Thanks for the help.
Linda F
Comment