Employers: IRS Updates Business Travel Per Diems

October 8, 2018
per diems

Formal expense reimbursement policies may now be necessary. The process can be simplified by paying travel per diems instead of going through submitted receipts.

Under current tax law, employees aren’t allowed to claim miscellaneous itemized deductions — including unreimbursed business expenses — on their personal tax returns for 2018 through 2025. So, it may be more important than ever for employers to set up expense reimbursement plans for business-related travel costs. Read more

IRS Issues Proposed Guidance on Controversial SALT Limitation

September 6, 2018

The new tax law limits deductions for state and local taxes. To bypass this limitation, some states have approved charitable contribution “workaround” legislation.

In recent weeks, the IRS has issued a series of proposed regulations to help clarify provisions of the Tax Cuts and Jobs Act (TCJA). One of the most controversial parts of the law is the limit on individuals’ deductions for state and local taxes (SALT) that goes into effect this year. Read more