#409 Open Forum Q & A | Your Tax and Legal Questions!
Main Street Business
00:00
How to Use Per Diems When Visiting Reynolds
If you're an LLC taxed as an S corp, the company actually is not required to issue you a 1099. If I choose GSA per diem, I do not need to provide any receipts for lodging, food, and incidentals. Therefore, if I am missing receipts, but I tracked my travel dates, this is a good alternative. And lastly, is there a difference in the end result on my taxes? For example, in 2023 hotels will be 100% deductible and dining will be 50% deductible. If I use per diems, it's 100% deductible or some different amount.
Transcript
Play full episode
