If any of them are not met, then the reimbursement is taxable income. Additional reading For more information, refer to these articles: Cell Phone Stipend: A Win-Win Solution for Employers and Employees –by Benepass, a company that helps distribute employee benefits. Cell Phone & Internet ...
The ultimate realization of our deferred tax assets depends upon generating sufficient future taxable income prior to the expiration of the tax attributes. In assessing the need for a valuation allowance, we must project future levels of taxable income. This assessment requires significant judgment. ...