Twists & Turns of Travel & Other Payroll Expenses. Thursday, May 29, 2008 10:00 – 11:30 am DPHHS Auditorium. Agenda. Travel Policy Reminders Tax Regulations Utilizing HR system to Pay employee expenses Taxation of Certain Expenses Resources. In regards to travel….
Thursday, May 29, 2008
10:00 – 11:30 am
Notes (IRS Pub 463): If your assignment or job away from your main place of work is temporary, your tax home does not change. You are considered to be away from home for the whole period you are away from your main place of work. You can deduct your travel expenses if they otherwise qualify for deduction. Generally, a temporary assignment in a single location is one that is realistically expected to last (and does in fact last) for one year or less.
However, if your assignment or job is indefinite, the location of the assignment or job becomes your new tax home and you cannot deduct your travel expenses while there. An assignment or job in a single location is considered indefinite if it is realistically expected to last for more than one year, whether or not it actually lasts for more than one year.
In either of these situations, you must be out of the city or general area of your original tax home.
(1-0300.25 – tips and taxes/misc expenses)
(1-0310.20 and 1-0310.40 mileage reimbursement)
(1-0320.10 travel shift definition)
(1-0310.10 mileage rates)
If these conditions are not met, you must reimburse for mileage at the standard rate.
(1-0310.30 high rate allowed when)
(1-0310.40 standard rate exemptions)
(1-0320.00 general meal allowances)
(1-0320.10 number of meals allowed)
(1-0320.10 meals during an extension of travel shift)
The State rate is $70, however the hotel is offering their rooms at $55 to all other travelers. The hotels are not required to charge the state the $70 rate (as some claim they are), the state will gladly accept a lower rate.
(1-0340.20 and 1-0350.20) lodge reimbursement rates
(1-0340.25 and 1-0350.30) lodging at actual cost
Payroll for North America>Montana Payroll Processes>Expense Entry
Entering expenses in HR is completed on one screen – type expense code used, Task Profile ID to charge the expense, and the amount of the expense. Then Save.
Payroll for North America>Montana Payroll Processes>Expense Finalization
Approving expenses is also completed on one page, and can be completed one employee at a time or by all employees in your agency who have expenses.
Once reviewed, you can approve one at a time by selecting each checkbox as you go or select “Finalize All”.
Then save your changes and you are done.
The following slides detail how travel expenses specifically are taxed:
444-3094 / firstname.lastname@example.org
444-5215 / email@example.com
444-5217 / firstname.lastname@example.org