Business Expenses 101: Why You Need An Accountable Expenses Plan
Handling business expenses is a common – and necessary – financial aspect of running a company.
The first step towards making the process efficient and beneficial is building an accountable plan. Doing so prevents employee confusion and miscommunication around valid expenses, while also preventing you and your employees from paying unnecessary taxes.
Reimbursed expenses from an accountable plan reduces your business’ taxable income and avoids your employees paying income tax on the repayment.
