![](https://www.cpapracticeadvisor.com/wp-content/uploads/sites/2/Gas-Pump-2022-IOBannon-768x576.jpg)
How to Get a Tax Break for Temporary Work Assignments
The IRS often views business travel expense deductions with a healthy dose of skepticism. Consult with your professional tax advisor to ensure you’re on firm ground.
The IRS often views business travel expense deductions with a healthy dose of skepticism. Consult with your professional tax advisor to ensure you’re on firm ground.
The guidance also provides general rules for determining a taxpayer's financial statement income and AFSI.
To qualify for transportation deductions, you must be traveling away from your tax home to a business location.
If your company doesn’t offer either option, try to empty out your account before January 1.
The BIG tax often catches business owners by surprise. Fortunately, however, you may be able to avoid adverse tax consequences with some astute planning.
The accumulated earnings tax must be paid in addition to the regular corporate income tax. Despite recent threats by Congress to raise the ante, this penalty tax remains at the 20% rate.
The guidance is being issued as part of the IRS's efforts to provide additional certainty to states and their residents regarding the federal income tax consequences of state payments made to taxpayers.
These taxpayers now have until Feb. 15, 2024, to file various federal individual and business tax returns and make tax payments.