What ACCOUNTABLE PLAN means: A plan for reimbursing employees for expenses such as meals, entertainment, travel, and transportation incurred for business purposes on behalf of the employer. A plan is an accountable plan if the employer requires the employee to adequately account for all business expenses and to return any excess reimbursements. For employees under an accountable plan, reimbursements aren't entered on the tax return as income and the expenses aren't deductible.
- Definition Actual Expenses (Regular Method):
- Dictionary The method of deducting automobile expenses based on actual costs incurred accountable plan definition.
- Definition Asset:
- Dictionary An item of useful or valuable property accountable plan explain.
- Definition Acquisition Debt:
- Dictionary Debt incurred to acquire, construct, or improve the taxpayer's principal or secondary residence accountable plan what is.
- Definition Accelerated Cost Recovery System (ACRS):
- Dictionary depreciation mainly used for property placed in service after 1980 and before 1987. ACRS is also used for certain property placed in service after 1986 that is acquired from a related party who used accountable plan meaning.
How works Accountable Plan meaning in Tax definitions A .
