South Dakota Expense Reimbursement Request

State:
Multi-State
Control #:
US-527EM
Format:
Word
Instant download

Description

This Employment & Human Resources form covers the needs of employers of all sizes.

How to fill out Expense Reimbursement Request?

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FAQ

Is my employer required to cover my expenses if I work from home? The federal Fair Labor Standards Act (FLSA) generally does not require that an employee be reimbursed for expenses incurred while working from home.

Handling Reimbursable Expenses There are two ways to handle reimbursements: Assign money for the initial expense. Temporarily overspending, then using the reimbursement to cover it.

A necessary expense is anything required for the performance of an employees' job. This depends on the work performed, but reasonable reimbursable expenses will likely include: internet services, mobile data usage, laptop computers or tablets, and equipment such as copiers and printers.

bystep guide to employee expense reimbursementForm a policy for the expense reimbursement process.Determine what expenses employees can claim.Create a system for collecting employee expense claims.Verify the legitimacy of expenses.Pay reimbursements within a specified timeframe.

How to record reimbursementsKeep your receipts. It's important to keep an accurate record of your expenses.Add reimbursement costs to client bill. Add up all expenses for the project and add this amount to the client's bill.Bill client up to agreed-upon limits. Issue the bill promptly.Know before you go.

If you have an accountable plan, expense reimbursements shouldn't be processed through payroll. Instead, ask employees to periodically gather documentation of expenses and then issue an expense reimbursement check. These payments should be recorded as company expenses.

Some companies will provide everything a remote employee needs. They may send a computer, smartphone, printer, and more, depending on the needs of the job. This usually helps companies feel secure knowing their remote worker has everything they need in their home office to perform their job duties successfully.

Companies that don't have to pay for employees' office space and supplies can save quite a bit in a year. One study showed that if a company allowed an employee to work from home just half of the time, it would save on average $11,000 per employee, and each employee would save between $2,000 and $7,000.

Several states, including California, the District of Columbia, Illinois, Iowa, Massachusetts, Montana and New York, do require employers to reimburse employees for necessary business-related expenses.

General rule - IRS Treas. Reg. 1.62-2(c): expense reimbursements, both for business and personal expenses, are taxable as part of gross income for employees. Exception: if reimbursements are made pursuant to an "accountable plan", the payments are not included in gross income (see IRS Publ.

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South Dakota Expense Reimbursement Request