As an independent consultant, you are responsible for managing your back office – and that includes reimbursement and tax deductions for expenses. Not only are these tasks difficult to manage, but you can put yourself at risk if you don’t fully understand the rules of operating expense compliance governed by the IRS.
With the help of our Independent Professional Operating System (IP.OS) and team of experts, expense submission, tracking and processing are completed efficiently, accurately, and compliantly. These services are available to you for as long as you work through MBO, and they are provided free of charge.
Simply select the expense category, enter the amount, upload your receipt and submit it for compliance review by our team of experts.
Once the billable expense is reviewed and approved, it is submitted to your client for payment. Your Business Manager will provide guidance on which non-billable expenses are deductible for your corporation.
Thanks to our convenient mobile app, there's no need to wait until you can access a computer to enter project time or business expenses. You can quickly and easily take a picture of a receipt with your phone and submit expenses, make updates and view the status of your expense approval.
MBO Mobile syncs immediately with your business center to provide a seamless experience.
For non-billable expenses, our compliance team provides guidance on determining which expenses comply with IRS tax codes and are allowable for deduction.
Deductions can include items such as home office equipment, hotels, meals, gas/travel, office supplies, cell phone expenses, and more.
By submitting expenses as they are made, you no longer have to prepare a Schedule C filing at the end of the year and have peace of mind.
Please note that expense deductions are reviewed on a case-by-case basis. The guidance provided on this page does not constitute legal or financial advice.