Dallas-based tax services firm Ryan said on July 15 that it launched an integration with Concur Expense, a new solution that enables businesses to optimize their meals and entertainment tax deduction calculation by using IRS-approved statistical sampling through their SAP Concur platform.
“Our partnership with SAP Concur represents a major step forward in simplifying tax compliance for our clients,” Ian Boccaccio, principal and income tax practice leader at Ryan, said in a statement. “By integrating with Concur Expense, we’re able to deliver a streamlined, nonintrusive solution that typically increases M&E deductions by an average of 30% while reducing audit risk and improving compliance.”
The M&E deduction optimization integration addresses a common challenge for tax and finance teams: identifying and classifying deductible M&E expenses across large datasets, Ryan says.
The solution automates this process using statistical sampling in accordance with IRS Revenue Procedure 2011-42, allowing companies to extrapolate findings from a small sample to their entire M&E population. The result is increased permanent tax deductions, improved cash flow, and enhanced shareholder value, Ryan says.
Concur Expense integrates an organization’s expense data into one solution, providing greater visibility into spend data through a simplified process. M&E deduction optimization is now available in the SAP Concur App Center.
Photo caption: Ryan is based in the Galleria towers on LBJ Freeway in Dallas. (Rose Baca/The Dallas Morning News/TNS)
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Tags: expenses, Ryan, SAP Concur, Small Business, tax deductions, Taxes, Technology
