While you may have read my articles on various websites, or my posts on FB pages and other forums, from time to time I like to wax eloquent without fitting my thoughts into someone else’s prescripted format. Some of the entries may be long and a few will simply be rants. Whatever the case, you are guaranteed to find some nugget of tax knowledge fitting for your situation with a dash of sarcasm or philosophy.
Since our clients are primarily engaged in multistate assignments, cross border employment or posted abroad, they share a common connection of working on the road, exploring the world or just planting themselves in a foreign land ….. travelers and nomads at heart.
Be sure to visit our website http://www.traveltax.com
Thanks for reading!
Wondering when the Per Diem Revenue Procedure was ever going to be updated? Well the IRS just updated it! Click the following link to go to new IRS Revenue Procedure 2019-48 which addresses per diems. This replaces IRS Revenue Procedure 2011-47.
Please look at the first episode/installment of our YouTube channel. Let us know in the comments what you want to see. Be sure to subscribe!
Episode 1 – TravelTax Welcome
Internet-based currencies are a popular investment/payment vehicle. They also require disclosure or reporting on the tax return but many ignore their accounts.
IRS Staff Trained to Spot Crypto Wallets
With the removal of job expenses under tax reform I have seen this scheme just like I predicted after the new tax laws were passed. It’s summed up in one really lame statement I heard:
“I make myself a 1099 worker by filing exempt from tax withholding for my W2 job and then claim all my travel expenses on a Schedule C, Self Employment Form. All my friends do it!!”
This is a good study showing that the majority of business are not “evil” corporations who pay no tax, but that they are owned by individuals, who pay a substantial portion of the income taxes in the US
The US Has Fewer Corporations