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An employer in the United States may provide transportation benefits to their employees that are tax free up to a certain limit. Under the U.S. Internal Revenue Code section 132(a), the qualified transportation benefits are one of the eight types of statutory employee benefits (also known as fringe benefits) that are excluded from gross income in calculating federal income tax.
In McCann, the court had to decide whether travel expenses paid by an employer to enable an employee to attend a company conference were part of the employee's gross income. The company provided the travel award to the employee for good work in increasing net sales during 1972. The court held that the travel expenses were compensation to the ...
A Qualified Employee Discount is defined in Section 132(c) as any employee discount with respect to qualified property or services to the extent the discount does not exceed (a) the gross profit percentage of the price at which the property is being offered by the employer to customers, in the case of property, or (b) 20% of the price offered for services by the employer to customers, in the ...
Education Commissioner Lizzette Reynolds repaid about $2,000 in travel expenses paid by ExcelinEd — her former employer and a national school choice advocacy group — for her attendance at two ...
11. Travel expenses. If you travel for your business (including conferences) — you can deduct 50% of meals costs plus 100% of the cost of flights, hotels and transportation. There are some ...
Fuel, maintenance, insurance, and other car expenses are all business expenses, provided the vehicle is used exclusively for business purposes. The IRS standard mileage rate can also be deducted. 22.
Per diem (Latin for "per day" or "for each day") or daily allowance is a specific amount of money that an organization gives an individual, typically an employee, per day to cover living expenses when travelling on the employer's business.
A Health Reimbursement Account is a benefit set up by an employer to help employees cover qualifying health expenses. Reimbursements under an HRA are tax-free for both the employee and employer.