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Is my coworker right? - Page 2

post #16 of 49
Quote:
Originally Posted by mcbrown View Post


Well, in fairness to him... I have been in financial services in NYC for my whole career, I'm a partner at a reasonably sized firm, and I have never been invited to a black tie event in connection with my job. These days it's pretty easy to go your whole life without wearing a tuxedo...
Not that it means he should be reimbursed. The objective way to resolve it is to answer the following question: would the IRS would consider it a deductible business expense for the company? In this case I highly doubt it.

I think the rule is that clothes that has a use outside of work is not deductible. So a UPS uniform that an employee has to pay for is deductible whereas a suit or tuxedo is not.

post #17 of 49
Quote:
Originally Posted by Quadcammer View Post

hmm, thats surprising to me. We tend to go to these things a lot.

I'm sure it varies a lot from firm to firm, even division to division, just like other aspects of corporate culture. So it's still probably his own damn fault for not picking up on the fact that he needs a tux at your shop.
post #18 of 49
If black tie was required and the event was an otherwise firm hosted evening, I would submit the expense.
post #19 of 49
Quote:
Originally Posted by OinkBoink View Post

I think the rule is that clothes that has a use outside of work is not deductible. So a UPS uniform that an employee has to pay for is deductible whereas a suit or tuxedo is not.


I'm not sure the same rules apply to a rental. He is only renting it to attend this one event. He doesn't get to keep it after.

post #20 of 49
My rule of thumb for charging anything to the company expense account is that if it will raise the eyebrow (yes, just the single brow) of either accounting or loss prevention, it's probably not a good idea to submit it.


He should (but probably won't) seek guidance by asking in advance. If he doesn't want to ask, it's because he's afraid of the answer and already suspects that he shouldn't but is willing to claim ignorance if called out for it.
post #21 of 49
Quote:
Originally Posted by Quadcammer View Post

hmm, thats surprising to me. We tend to go to these things a lot.

He should just buy a tux already unless he is planning to jump ship soon.
post #22 of 49
Thread Starter 
Quote:
Originally Posted by NORE View Post

He should just buy a tux already unless he is planning to jump ship soon.

i agree, but he just joined the group of people who typically get invites.

I told him to buy one, but he's hesitant.
post #23 of 49

It sounds to me like y'all are well paid. Working at flush finance firms tends to do that(though I admit I am not aware of specifically which firm or even sub category you belong).

Also, he has a corporate credit card. Everyday people do not have those.

Thus, he is a cheap bastard. Whether he is making half a buck or 3, the too great amount earned is enough and people should have their own moral line drawn at some point. But you are in the USA so why do that? 

And I am hardly against the industry, I just know my people. Also, I believe in personal financial responsibility so I respect individuals who do not just spend 110% of every dollar they earn

whether it be 50k or 5000k. 

But in this case, one's own money should be applied. 

As pointed out above, should he have to pay for anything, gas, baby sitter, time outside the office, etc.?

Should every employee not have their tux paid for? 

Infinite shamelessness. I am all for greed but some type of limits/moral code need to exist. The world is way too short on them and some countries and subcultures within them more than others.

post #24 of 49
Quote:
Originally Posted by Quadcammer View Post


i agree, but he just joined the group of people who typically get invites.
I told him to buy one, but he's hesitant.

Tell him to look on the bright side. At least he's not a chick, so he won't have to buy a different tux for every engagement.

post #25 of 49
Quote:
Originally Posted by Digmenow View Post

My rule of thumb for charging anything to the company expense account is that if it will raise the eyebrow (yes, just the single brow) of either accounting or loss prevention, it's probably not a good idea to submit it.
He should (but probably won't) seek guidance by asking in advance. If he doesn't want to ask, it's because he's afraid of the answer and already suspects that he shouldn't but is willing to claim ignorance if called out for it.

This. nod[1].gif
post #26 of 49
I agree with the majority that he is responsible for his own tux.

Having said that, and knowing that he's a bit cheap, maybe you could just explain the concept of buying to him. He's in finance, so explain it in a way that makes financial sense. He won't likely get reimbursed and it will cost him something in terms of reputation. $150 for a one time expense or he could invest $1000 in a basic setup so he'd only have to use it 6 or 7 times before it'd pay for itself. Tuxes are things that can be worn for years without having to be replaced due to style (as long as he keeps his weight in check!).
post #27 of 49
2006 called. They want their AmEx back.
post #28 of 49

I'd say (in the very, very unlikely case) that he's contractually required to attend AND it's absolutely black tie (not "black tie optional"), then while he's certainly still just chancing his arm, I can certainly forgive the ask, as it's based on the off chance that someone will be soft enough to say yes. I'd also think that in this case, if he's not reimbursed and he's renting (rather than buying), he should have a chat with his accountant to see what his options are in your country, come tax season. I don't think that would be the case if he bought, however, as he'd be able to wear it on other occasions.

 

If it's either optional to attend (i.e. just a networking/advancement-opportunity kind of thing) or the code is black tie optional, then obviously he's just being very cheeky. I'd still give him points for the effort/attempt, though. Brave lad, to actually ask!

 

Entertaining thread, either way, though!

post #29 of 49
Well the important question is does he have a choice weather he can to go or not? If he is being forced to go then its a bit unreasonable for him to stomach the cost. I do agree with you that every man should own at least one Tuxedo but the fact is that majority of the people today even in those industries don't. I have several friends that work at client facing roles in the big banks here in NYC some wear suits everyday and get invited to these things regularly but even they don't own a tux and usually just wear a black suit with a black tie to those things.
post #30 of 49
There are certain cases where I think submitting the receipt would be a good idea, but this doesn't seem to be one of them. He doesn't think twice about paying for his own suits (or does he?) and those are worn TO work. You just take for granted that, if you work at a certain type of company, you have to own suits. It's an investment in the culture of your workplace. If you are invited (and encouraged) to go to black tie events all the time, I would suggest buying a tux. When I bought my first tuxedo, I got the whole thing from Joseph A Bank for under $200. I've since acquired a nicer rig (since I purchased it preowned when I wasn't pressed for time with an event coming up), but that JAB tuxedo is perfectly serviceable. It sounds as if black tie affairs are part of the CULTURE of the group you're in. If that's the case, he should make the investment.

If I understand the situation, asking the company pay to rent him clothing (repeat that line over in your head. . .RENT HIM CLOTHING) for this event would be just as petty as asking to be paid for his time in attendance. If he doesn't want to fork over the cash himself, I feel like he would look a lot better in a nice black suit rather than a rental tuxedo.

-James
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