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03.05.10 Test Your AP IQ: Air Travel Perk
The rates used to figure the taxable value of an employee’s personal use of company-owned aircraft are called what?
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03.01.10 “Less Mercy” by IRS in New Audits
The Internal Revenue Service will be particularly aggressive during the 6,000 surprise audits that will target Form 1099 independent contractors that should really be classified as employees, employee fringe benefits, employee reimbursements, and executive pay. Audit notices have already started to go out to employers of all shapes and sizes—with a particular emphasis on small companies.
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02.22.10 SIFL Rates Decrease for 1H10
All the Standard Industry Fare Level (SIFL) formula rates have decreased for the first half of 2010 (January 1 through June 30), the Transportation Department announced. more...
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02.09.10 Rogue T&E Spending
Rogue (out-of-policy) spending by employees on travel and entertainment (T&E) can happen for several reasons. Different departments or business units could interpret company policies differently—or certain managers feel that the rules don’t apply to them. more...
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01.11.10 Tax-Free Commuting Amounts
The monthly tax-free amount of employer subsidy for mass transit passes and van pools used by an employee is $230 for 2010 (unchanged from 2009). This is the same amount as the monthly value of employer-provided parking that can escape taxation as employee income. Employees who commute to work by bicycle can be reimbursed by employers up to $240 per year (also unchanged from 2009) for maintaining, repairing, storing, and buying bicycles. more...
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01.08.10 Test Your AP IQ: Mileage Rate for 2010
What is the standard business mileage rate for 2010?
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12.30.09 Too Many Paper T&E Checks
Despite the rise of electronic payments, organizations are still using the old fashioned paper check to reimburse travel and entertainment (T&E) expenses, according to a new report from PayStream Advisors. more...
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12.18.09 Test Your AP IQ: T&E: Personal Use of Biz Car
When employees use a company-owned car for personal reasons, the usage must be valued and treated as taxable income to employees. Which of the following is NOT an IRS-approved method to impute income to employees for their personal use of company cars? more...
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12.14.09 Act Fast on New Mileage Rate
The standard business mileage rate will drop for 2010 business driving—to 50 cents per mile (from the 55 cents rate for 2009). So companies need to get their systems adjusted or there could be tax issues. more...
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12.09.09 Extent of T&E Automation
Almost half of companies recently polled say they have some automation in place for managing the travel and entertainment (T&E) reimbursement process, according to a report from PayStream Advisors.
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11.24.09 Fake T&E Receipts
A pricey steakhouse in New York City set up a Web site that allows diners to print out a set of phony receipts to use on expense reports, according to the New York Post. The fake receipts are for smaller expenses that are designed to fly under the audit radar easier than a receipt for an expensive porterhouse.
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11.09.09 Year-end Valuation of Exec Perks
Employers generally must determine the actual value of fringe benefits provided during a calendar year by January 31 of the following year. These fringes may include the personal use of company cars, cell phones, or other property; in-kind dependent care, health club memberships, employer-provided meals, length-of-service and safety awards, free use of company-provided services, Christmas or other holiday gift certificates, and employee recognition awards. Fortunately, the law gives some relief in case you can't do these calulations by the end of the year.
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11.06.09 Test Your AP IQ: Business Gifts
You receive an invoice for a business gift sent to a company client. The total amount of the invoice is $45, which includes the price of the gift ($25), a charge for holiday wrapping ($5), and shipping ($15). How much of this invoice can your company deduct for tax purposes?
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10.19.09 New High-Low Per Diems
The per diem rate for travel to high-cost localities increased to $258 effective Oct. 1, 2009, and to $163 for travel to any other continental U.S. location, the Internal Revenue Service said in Revenue Procedure 2009-47.
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10.10.09 Test Your AP IQ: Travel Advances
Year-end is the time to clean up travel advances. If an employee does not account for a travel advance within a “reasonable period of time,” the amount becomes taxable income to the employee. What is a “reasonable period of time” under the rules?
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10.07.09 Imaging Expense Report Backup
The idea of collecting paper receipts for employee travel and entertainment (T&E) expenses is going by the wayside. Close to half (44 percent) of companies we polled now require employees to image or scan the receipts that serve as backup to their expense reports. The scanned receipts are then tied to the expense report, which is also in electronic form. more...
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10.05.09 New Per Diems in Effect
Effective Oct. 1, 2009, the standard per diem rate for business travel within the continental United States will be $116, with $70 allocated for lodging and $46 for meals and incidental expenses, the General Services Administration announced. The per diem rate for fiscal year 2009 was $109.
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09.15.09 FULL AP EXPO PROGRAM AVAILABLE
Schedules and descriptions of over 30 sessions and workshops—including many on AP automation--are now available for our upcoming 8th Annual AP Conference & Expo October 14-16 at the Loews Royal Pacific at Universal Orlando. more...
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08.25.09 T&E Policy Compliance
It’s easy to think that the best way to control employee travel & entertainment (T&E) expense reimbursements is to have a strong formal policy and procedures manual. But that’s only part of the story. more...
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08.17.09 IRS OKs Tool Reimbursement Plan
The Internal Revenue Service has been cracking down on employee tool reimbursement plans because the agency believes that many of these plans are designed for employers to dodge payroll taxes. But a recent IRS ruling reveals how these plans can pass muster.
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08.11.09 T&E Spend Analysis Op
Almost a quarter (22 percent) of employee travel bookings are not in compliance with corporate travel and entertainment (T&E) policies, according to American Express Business Travel. Hotel spending in particular is falling through the cracks, as AmEx says companies waste $500 million annually by failing to strategically manage their hotel program. more...
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08.07.09 Test Your AP IQ: Automated T&E Cost Savings
An automated system for employee travel and entertainment (T&E) expense reports and reimbursements can cut processing costs by about how much on average? more...
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07.29.09 Prevailing T&E Systems
Over three-quarters (77 percent) of AP pros we polled say they have some level of T&E automation—up from 62 percent two years ago when our last survey was done. How did they acquire their systems? And what systems do they use? more...
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07.27.09 No 1099s for Volunteer Mileage
Charitable organizations can reimburse volunteers who use their personal cars when performing their good works can either reimburse actual costs or use a standard mileage rate. When charities reimburse actual costs, they do not have to issue a Form 1099, according to the Internal Revenue Service. more...
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06.29.09 IRS Eyes Executive Extras
As the Internal Revenue Service seeks to close the “tax gap,” payments made to or on behalf of executives is one of the areas it is scrutinizing in particular, Michael O'Toole told attendees at a session on “Executive Compensation Audits—What Is the IRS Looking At?” at a recent conference of the American Payroll Association.
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06.15.09 IRS to Ease Tough Cell Phone Rules
Under current rules, the value of employer-provided cell phones is taxable income to the employees—even if the phones are used totally for business. However, if the employer keeps detailed records, the business usage can be excluded from income. These tough rules have been a thorn in the side of many companies—but that will soon change.
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06.05.09 Test Your AP IQ: T&E Receipt Threshold
Most organizations require employees to submit receipts for reimbursable T&E expenses that exceed what amount? more...
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05.22.09 AP IQ: Certain Employee T&E on a 1099?
Your CEO goes on a business trip and his spouse tags along. You reimburse the CEO for his and his spouse’s travel. Should you report the spouse’s reimbursement on a 1099-MISC? more...
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03.09.09 SIFL Rates Increase for 1H09
All the Standard Industry Fare Level (SIFL) formula rates have increased for the first half of 2009 (January 1 through June 30). What are the SIFL rates? When an employee makes personal use of company-owned aircraft, the employee is generally taxed on the value of the use of the aircraft. The value is based on what it would have cost to charter a plane for the trip. An easier way to figure the value is to use the SIFL rates, which are issued every six months. more...
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02.06.09 Managing T&E
What is the most critical factor in the success of an organization’s program for managing employee reimbursements for travel and entertainment (T&E) expenses?
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