News & Articles

Employers: IRS Updates Business Travel Per Diems

Posted on Mon, Oct 08, 2018

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.

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Tags: Business Travel, Travel, Tax Cuts and Jobs Act (TCJA)

Strictly Speaking: Travel and Entertainment Recordkeeping

Posted on Wed, Mar 02, 2016

If you're reporting travel and entertainment (T&E) expenses on your tax return and you're audited, there's a good chance an agent will take a hard look at those items.

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Tags: Business Travel, Travel Expenses, Entertainment, Meals & Entertainment

Business Travel Per Diems May Simplify Expense Reporting

Posted on Fri, Oct 03, 2014

Reimbursing and substantiating business travel expenses can be a cumbersome, time-consuming process. Here's how it traditionally works. Employees collect receipts as they travel and maintain records that note the time, place and business purpose of each expenditure. Then, they submit monthly expense reports that must be approved by their supervisors. Sometimes, there are administrative delays, if documentation is incomplete or a supervisor questions the business purpose (or reasonableness) of an expense item. Employers must hold on to all this documentation for several years in case the IRS inquires about business travel deductions.

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Tags: EHTC Article, Business Travel, Expenses, IRS, Per Diem, Newsletter, Articles, IRS Publications

Summer Travel: Tips for Saving Money and Possibly Taxes

Posted on Fri, Jun 20, 2014

Are you planning a vacation this summer? Two-thirds of Americans have at least one leisure trip planned this summer, according to a recent poll by Harris Interactive, a Nielson Company. That's 2 percentage points higher than last year's poll and 6 points higher than 2012. AAA expects 2014 to be the busiest travel season since 2000, thanks to economic improvement and pent-up demand.

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Tags: EHTC Article, Business Travel, Business, Documentation, IRS, Travel Expenses, Travel, Articles