Employees working from home during the coronavirus pandemic claimed some outlandish expenses this year, including pricey exercise bikes, facelifts and private jets.
Emburse, an expense management software company, released a compilation Wednesday of some of the craziest expenses it has seen claimed this year, some of which were actually approved. That included $1,895, which was approved as a contribution for an employee's Peloton Bike under the explanation of “for health and wellness.” On the other hand, a $7,600 expense claim for a facelift was submitted under the category of “repairs and maintenance” but was rejected, despite the pressing need to look one’s best during a Zoom meeting.
Darya Shneyder, CPA, is a partner in the Real Estate Group at Marks Paneth LLP. She specializes in providing accounting, auditing, tax and advisory services to commercial and residential real estate owners, developers and co-ops and condominiums, as well as securing real estate tax reduction via certiorari audit filings.
The Fed has already eased certain capital requirements in response to the coronavirus pandemic. It should avoid making any further adjustments to the surcharge, which is meant to keep global banks from creating systemic risks.
Alec Grant is head of client fraud prevention for commercial banking at JPMorgan Chase.
Some expenses weren’t for working from home, but more about getting out of the house safely. An expense claim for a private jet charter costing over $20,000 was submitted and approved under the explanation of “required to limit COVID exposure for international shoots.” Another travel-related expense claim was $2,500 for a helicopter ride, which was not approved.
The $79 expense claim for a dog crate could perhaps be used for travel at some point when that's safer, but in these times it was more plausibly to provide "crate training [for] a new COVID puppy to not run into Zoom meetings."
Below is an infographic produced by Emburse showing this and several other head-scratching claims:
