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Travel-related expenses can add up quickly for business owners and employees who are constantly on the go. Whether it's for client meetings, business conferences, or traveling to a temporary workplace, understanding the tax rules surrounding business travel can help ensure you're claiming the right deductions and staying compliant. Below is a breakdown of common travel expenses and deductions, including per diem rates, mileage, and other related costs.   1. Standard Meal Allo

So, you created your LLC, read somewhere that making an S Corp election could help you save on FICA taxes, and everything seemed to be running smoothly. You filed your first-year tax return for your 1120S without any issues. Maybe you even did a second one, only to receive a notice stating that your S Corp election was never processed or was rejected. As a result, your first and second-year returns have now been rejected. You’ve probably received a notice like this one:     I