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A collection of 12 posts

How to Save Money on Vehicle Expenses: Tips for Small Business Owners

How to Save Money on Vehicle Expenses: Tips for Small Business Owners

As a small business owner, one of the biggest expenses you may face is the cost of operating a vehicle for your business. From fuel and maintenance to insurance and depreciation, the expenses can add up quickly. However, with some careful planning and smart choices, you can save money on

How to Claim Vehicle Expenses Based on HMRC Guidelines

How to Claim Vehicle Expenses Based on HMRC Guidelines

If you're a UK employee or self-employed person who uses your personal vehicle for business purposes, you may be able to claim mileage expenses on your tax return. However, it's important to understand the guidelines and requirements set by HM Revenue & Customs (HMRC) to avoid mistakes and potential penalties. Keep

How to Report Vehicle Expenses for IRS Tax Deduction

How to Report Vehicle Expenses for IRS Tax Deduction

The IRS provides several methods for reporting vehicle expenses. The simplest method is the standard mileage rate. Here's what you'll need in order to report vehicle expenses at tax time.

Can I Deduct or Reimburse Commute Travel Expenses?

Can I Deduct or Reimburse Commute Travel Expenses?

Commuting costs between your home and your regular place of work are generally not tax deductible. The IRS considers commuting to be a personal expense. However, if your office is at home, that's a different story...

Employee Vehicle Expenses - The IRS Accountable Plans

Employee Vehicle Expenses - The IRS Accountable Plans

A short overview of the methods defined by the IRS as "accountable plans" for reimbursement of employee vehicle expenses.

2018 IRS Standard Mileage Rate for Business Travel is 54.5 cents

2018 IRS Standard Mileage Rate for Business Travel is 54.5 cents

The IRS has recently published the standard mileage rates for 2018. Beginning on Jan. 1, 2018, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: * 54.5 cents for every mile of business travel driven, up 1 cent from the rate

6 deductible travel expenses!

6 deductible travel expenses!

1.Meals: Most companies will expense the whole bill providing it's a reasonable amount, and you haven't been out to The Ritz for High Tea. It's worth checking the company policy as some companies will only refund 50% of the bill. 2.Laundry: Laundry can be claimed, again it's within

What Are the Top 5 Business Expenses

What Are the Top 5 Business Expenses

When starting out there are many costs to take into consideration. Here are our top 5! Office Space: Rent, bills, maintenance, and all other manors of office upkeep are the single greatest cost when starting out. Finding office space is only the start. Managing the fit out, complying with safety

7 fraud figures that will blow your mind!

7 fraud figures that will blow your mind!

A 2016 report produced by Chrome River shows the impact that employee expense fraud had on organisations in the U.S. The survey was carried out with over 1,000 business travellers across a range of industries. $2.8 Billion: The annual loss to organisations in the U.S due

5 ways to manage your business mileage!

5 ways to manage your business mileage!

Pen and Paper: Outdated, time consuming and inaccurate however, much of the UK still logs business mileage for tax reimbursement manually. Remember, all UK mileage logs need to be kept for 5 years - that's a lot of trees! Spreadsheet: A step up from pen and paper and it's presented

5 Questions you need to ask when claiming mileage expense in the UK

5 Questions you need to ask when claiming mileage expense in the UK

1. Can I claim mileage in the UK? Most employers will pay your mileage expenses however, if they don’t, or they don’t cover the full amount you can claim back the tax from HMRC. 2. What’s covered? If you travel for work you may be able to

Travel Expense Reports on psngr.co

Travel Expense Reports on psngr.co

Have you already installed Psngr app and are logging your trips automatically? That's awesome! Here's how you can create clear and effective travel expense reports using your dashboard on psngr.co. The Trips tab Login to psngr.co and select the Trips tab. The table shows your recent trips, sorted