Click on the links below to jump to each section in this article: New Per Diem Rates for Business Travel Follow IRS Rules to Nail Down a Charitable Tax Deduction Withdrawing ERC Claims New Per Diem Rates for Business Travel The IRS has announced the per diem rates for ordinary and necessary business travel expenses in fiscal year 2023-24: When using the high-low substantiation method, the rate for travel to high-cost localities is $309 per day and the rate for all other continental...
Archived Posts: small business rent
Tax Tips for October 2023
Click on the links below to jump to each section in this article: IRS Suspends Processing of New ERC Claims What Exactly Is a “Small Business”? Tax Treatment of Cryptocurrency IRS Suspends Processing of New ERC Claims The IRS is continuing to warn businesses about aggressive marketing by nefarious actors involving the Employee Retention Credit (ERC). It has suspended the processing of ERC claims until at least year end because of a spike in the number of fraudulent claims. The IRS has...
Tax Tips for April 2022
Click on the links below to jump to each section in this article: File on Time Even if You Can't Pay What To Do if You're Missing Important Tax Documents Tax Credits To Help Cover Costs of Higher Education Small Business: Rent Expenses May Be Tax-deductible Taxpayer Rights: Pay No More Than the Correct Amount File on Time Even if You Can't Pay Generally, taxpayers should file their tax returns by the deadline even if they cannot pay the total amount due, but if you can't, there are several...