Will Form 1120 C Incurred 2023-2024

Hi guys my name is Toby Mathis I'm with the Anderson business advisors I'm gonna be talking to you today about something called an accountable plan what qualifies for it what it is why there's so much misinformation out there why more people aren't using it all that good stuffs gonna go to start to make sense here so the first thing is what is an accountable plan an accountable plan is an agreement by a company to reimburse its employees for expenses they incur for the benefit of the employer so the easiest way to think about this is if I'm an employee of a company and they tell me to go out there and incur an expense I go get a cellphone or whatever and then it reimburses me that's an accountable plan now this is the most important section is whenever you look at an accountable plan you're actually going to be going into the Internal Revenue Code and this is actually contained in a rag it's 1.16 2-2 for those of you guys like to read this stuff and we're gonna go way down and we're gonna go into the code for a little bit we're gonna find a subsection 4 and what it's going to say is treatment of payments under an accountable plan amounts paid under an accountant plan are excluded from the employees gross income are not reported as wages or other compensation on the employees for form w2 and are exempt from the withholding and payment of employment taxes which is FICA futa retired railroad tax you name it all those things come into it now the reason this is important is because that means it's not reported money when it goes into your hands but on the same token your employer...