Business Spending Account overview
A Business Spending Account provides employees with funds for business-related expenses, such as home office setup or internet payments, streamlining expense management and reducing traditional reimbursement needs. Keep your receipts in case you’re asked to verify a purchase.
Coverage
Expenses covered vary by employer but commonly include:
- Office supplies and equipment: Computer accessories, office supplies, work software
- Communication and technology: Work-related phone, internet, data plans, and industry-specific tools
Check your plan in the Level App for eligible expenses.
Eligibility
Your employer determines your eligibility, so check your plan documents in the Level App or contact HR.
Taxation
- Tax-free reimbursements: Generally tax-free if used for eligible work-related expenses as outlined by your plan.
- Documentation: Receipts are typically required for tax-free status.
Consult a tax professional or finance department for specific details.
Termination
If you leave the company, Business Spending Accounts funds are managed according to your employer’s policies, so check with HR for specifics.
For more details, check your Level App.