Per Diem

New per diem business travel rates became effective on October 1

Business Travel Deductions, Business Travel Expense, Employees, Small Business, Tax Record Retention / Douglas Freeman

Are employees at your business traveling again after months of virtual meetings? In Notice 2021-52, the IRS announced the fiscal 2022 “per diem” rates that became effective October 1, 2021. Taxpayers can use these rates to substantiate the amount of expenses for lodging, meals, and incidental expenses when traveling away from home. (Taxpayers in the […]

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Be sure your employee travel expense reimbursements will pass muster with the IRS

Business Travel Deductions, Business Travel Expense, Deductable Expenses, Internal Revenue Service, Small Business, Tax Cuts and Job Acts (TCJA), Tax Deduction / Douglas Freeman

Does your business reimburse employees’ work-related travel expenses? If you do, you know that it can help you attract and retain employees. If you don’t, you might want to start, because changes under the Tax Cuts and Jobs Act (TCJA) make such reimbursements even more attractive to employees. Travel reimbursements also come with tax benefits,

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