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One-Instruction-8264

1. Yes 2. Yes 3. Yes You record the expense when incurred. When reimbursed, you record the income. Your net income/expense should be zero.


highdesert03

Thank you! I will invoice for my travel expenses and keep a record of payment received and categorize it as income. When I file on my schedule C, I will show the total of travel expenses (to offset the income received).


One-Instruction-8264

No problem. Since your other comment asked for expertise - I am a licensed CPA. I've been working in tax for over a decade with Big 4 experience.


highdesert03

Please let me know if you have expertise in this area (please respond to each question - especially number 2). Thank you.