4 ms·
> This really is just a small monetary enhancement to one's wage The IRS doesn’t view it that way — if people were just given an extra $70 a day for expenses n
by mikeocool 2y ago
> This really is just a small monetary enhancement to one's wage
The IRS doesn’t view it that way — if people were just given an extra $70 a day for expenses not related to their job, it would typically to be taxed as compensation.
If they allowed this to happen unchecked and lots of people started doing it, the headline would be “Meta facilitates tax avoidance scheme for employees making $400k”
- treesknees 2y agoThis is my feeling as well. I've gone through a lot of grief on expense reports at my company for things like not reporting the tax on a hotel room or tip on a meal receipt separately from everything else. It's not as simple as $25, at least from an accounting perspective.
- JohnFen 2y agoThe expense report minefield is real. It's why I developed the habit decades ago of not expensing anything unless it's actually expensive. It's too much hassle and risk.
- shagie 2y agoThe relevant IRS document is https://www.irs.gov/publications/p15b#en_US_2024_publink1000193706 https://www.irs.gov/publications/p15b#en_US_2024_publink1000... The relevant section is on De Minimis Meals.