View Single Post
Old 02-27-2013, 11:50 PM
  #2  
frozenboxhauler
Nice lookin' tree, there!
 
frozenboxhauler's Avatar
 
Joined APC: Sep 2006
Position: MD-11, old man
Posts: 2,198
Default

Originally Posted by Adlerdriver View Post
You buy an airline ticket between your home and your domicile with some extra bank $$. You check "yes" to the commuting question on the expense report so that expense will go into your taxable income. However, you end up short of travel funds and have to pay for half the airline ticket.

So, you're paying taxes on the whole ticket but you're also eating half the cost of the same ticket with a payroll deduction.

If you owed on the whole ticket, you could just not check the box for that expense since you're buying it, not Fedex. I'm curious how folks are handling the partial expenses.
Alder, the way I do it is that if I'm spending 1c of the Company money, I check the "yes" box and advise my tax guy at the end of the year how much out of pocket money I've spent. If I'm buying the ticket, using all of MY money, I check "no".
fbh
frozenboxhauler is offline