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.
The Internal Revenue Service and the Treasury Department released proposed regulations and temporary regulations to offer guidance for consolidated groups on net operating losses in the wake of changes under both the Tax Cuts and Jobs Act of 2017 and the CARES Act.
George Friedlander is widely recognized as a leader in the municipal bond marketplace. He is frequently quoted in the financial press on his ideas related to trends and investment patterns in the municipal bond market. Prior to joining Court Street Group, he was employed by� Citigroup and its predecessor firms for 41 years.� He has a BS in Math from the State University at Stony Brook and an MBA with Distinction in Finance from Pace University. Mr. Friedlander� has perennially been ranked within the top three� in municipal strategy in various investor surveys. More recently, he has adjusted his focus to policy analysis within the muni market, as well as the implications of accelerating technological change for state and local governments. Mr. Friedlander has further been recognized with awards from SIFMA and its predecessor firms, the Bond Market Association and the Public Securities Association, and from the National Federation of Municipal Analysts. He was voted the National Federation’s Analyst of the Year in 1989, and received the Chairman’s Contribution Award of the Bond Market Association in 1997. In 2011 Mr. Friedlander received the Lifetime Achievement Award in a poll of institutional investors by Smith's Research and Gradings. �He is currently actively working with state and local public interest groups on ways to respond to potential threats to the tax-exempt status of municipal bonds.
Bobbi Kloss is the director of human capital management services for the Benefit Advisors Network
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:
