What is an Accountable Plan | How to Reimburse Your Business Expenses #Finances #accounting

What are the pros and cons of having a business-owned vehicle versus a personally-owned vehicle? In this episode of the Small Business Tax Savings Podcast, Mike dives into the often confusing and overwhelming topic of business vehicles. From selecting, buying, and maintaining a car for business use to proving business use of a vehicle to the IRS. Mike offers up his expertise on how to make sure you’re getting the most out of your vehicle when it comes to tax deductions. Mike covers the pros and cons of having a business-owned versus personally-owned vehicle, as well as tips for determining the business use percentage and tracking mileage. Tune in now and listen as Mike shares his advice on how to select, buy, maintain, and write off a car for business use! 00:00 Reimbursing Yourself As a Sole Proprietor or Single Member LLC 03:45 Reimbursing Yourself As A S-Corporation or C-Corporation 05:36 How to Set Up An Accountable Plan 12:30 Closing Segment ______ Podcast Host: Mike Jesowshek, CPA - Founder and Host of Small Business Tax Savings Podcast Join TaxElm: https://www.TaxElm.com IncSight Packages: https://incsight.net/pricing/ Book an Initial Consultation: https://app.simplymeet.me/o/incsight/... ------- Podcast Website: https://www.TaxSavingsPodcast.com Facebook Group:   / taxsavings   -------- To find out more on this topic and many others visit our website at www.TaxSavingsPodcast.com.