Accountable Reimbursement Plans
Accountable reimbursement plans are used by employers to pay for employee expenses, without adding to the employee's taxable income. Some organizations, particularly those that mention a reimbursement limit for education or other expenses in their compensation package, are prone to set up these accounts in a way that becomes taxable to the employee. We offer support in setting up these accounts according to IRS guidelines, as well as ongoing education in maintaining them and utilizing software to make oversight and bookkeeping easier for your organization.
Learn
What are current IRS guidelines regarding accountable reimbursement plans? How should they work?
Choose
Pick the tracking option that makes sense for your organization, from Abacus, Expensify, to QBO, and more.
Educate
Teach employees core ideas behind accountable reimbursement plans, so they can make good decisions in the field.
Stay Current
Schedule an annual update with staff to learn changes in IRS guidelines and make improvements in the reporting process.