AccountablePlan-Instructions docx 2025

1. Click ‘Get Form’ to open the AccountablePlan-Instructions document in the editor.
2. Begin by reviewing the overarching concept of the accountable plan. Understand that as an S corporation owner, you have distinct roles as both a shareholder and an employee.
3. Fill in the 'Employee Name' and 'Period' fields accurately. Remember, shareholders who are not employees typically cannot be reimbursed for expenses.
4. Input your home office square footage in the designated area. Ensure you only include usable space when calculating total home square footage.
5. Enter annual amounts for mortgage interest, property taxes, and other related expenses. Use the green cells for data entry while avoiding changes to yellow and blue cells.
6. For mileage reimbursement, record business miles driven and total miles. This will help determine your business use percentage.
7. Complete the 'Out of Pocket Expenses' section by entering any personal payments that need reimbursement from your company.
8. Once all entries are made, save your completed worksheet and upload it to your business client portal under the Tax folder for future reference.

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