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Home > December 14, 2022 Edition

December 14, 2022 Edition [1]

Business Expense Substantiation: Don’t Risk Income Tax on your Procurement Card Transactions [2]

With the revised Finance Procedural Statement Business Expense Substantiation & Tax Implications, effective January 1, 2023, requirements for timely substantiation/submission of business expenses apply to commercial credit card transactions – including Procurement Card – in addition to employee reimbursements. 

Get Ready: Don’t Risk Income Tax on your Travel Expenses [3]

Get ready for the revised Business Expense Substantiation & Tax Implications procedures. Effective January 1, 2023, requirements for timely substantiation/submission of business expenses apply to Travel Card and Airfare Card transactions, as well as to employee out-of-pocket reimbursements. 


Source URL:https://www.cu.edu/controller/news/office-university-controller-news/december-14-2022-edition

Links
[1] https://www.cu.edu/controller/news/office-university-controller-news/december-14-2022-edition [2] https://www.cu.edu/controller/news/office-university-controller-news/december-14-2022-edition/business-expense [3] https://www.cu.edu/controller/news/office-university-controller-news/december-14-2022-edition/get-ready-don%E2%80%99t-risk