Hypothetical situation, If I’m traveling for business and get a traffic ticket (moving violation). The company decides to pay it for me (after the trial), due to the reason that tickets are somewhat randomly handed out, yes a few go to the hard core law scoffers, but a good number are just people trying to obey the law and just slip up because they are human, and also the travel was for business when the ticket was issues.
My questions are?
1 - Do I have to declare that as income?
2 - If they also pay for increased insurance would I also have to declare that as income?
3 - For the company are any of these 2 above tax deductable for them?