The Corporate Transparency Act (CTA), enacted as part of the National Defense Authorization Act (NDAA) of 2021, represents a significant shift in the landscape of corporate transparency in the United States. Designed to combat money laundering, tax evasion, and other financial crimes, the CTA imposes new reporting requirements on certain...
If you own a pass-through entity such as an S Corporation, partnership, or LLC in Arizona, you may have heard about the Pass-Through Entity (PTE) Tax and its potential benefits. The PTE tax is designed to help business owners reduce their overall tax liabilities while ensuring compliance with Arizona’s tax laws. What is the Pass-Through Entity (PTE) Tax? The Arizona PTE...
What Is Per Diem? Per diem is a daily allowance used to cover business travel expenses such as lodging, meals, and incidental costs, rather than reimbursing each expense individually. This simplifies paperwork and allows your business to support deductions properly. When the allowance stays within federal limits and documentation rules are...
What is per diem? Per diem is a daily allowance paid to cover business travel costs (lodging, meals, incidentals). It replaces the need to save every receipt. Do I need receipts? For meals and incidentals: No, if you use the federal per diem rates. For lodging: Yes, unless lodging is part of the per...
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