Legal Question in Employment Law in Maryland
My employer typically takes 60-90 days to reimburse normal business expenses, during which time I often have to pay interest because these expenses were charged on my personal credit card. Is this legal and can I deduct this interest on my taxes?
1 Answer from Attorneys
A few thoughts:
1.) Employers are allowed a reasonable time to reimburse. 60-90 days seems excessive, even for the biggest of corporations.
2.) Speak with your employer about paying you up front for your business expenses above a certain level, say $50. That should cover airfare, hotels, most meals, and at the same time not make it look like you are trying to nickle and dime your employer.
3.) Some employers trust their employees enough to give them AMEX business cards. A written policy can be signed by the employee that states that any charges that are ultimately not approved by the company are the responsibility of the employee.
4.) I'm not sure about the tax deduction question and can't give you tax advice regardless -- this question is better suited for a CPA or accountant.
Best of luck.*******The above is for informational purposes only and does not create an attorney-client relationship.******
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