Quote:
Originally Posted by headborg
Per Diem is generally a rip off.
3.--YOU legally can't "double" claim any MEAL EXPENSE- at the end of year-.
Most of the comments are correct. One minor correction though......
Regarding #3, Figuring tax return per diem. The present per diem is $52 per day. You total ALL days out and multply by $52 and that is your perdiem for the year. Then take 75% of that and that is the actual dollar amount you can deduct. (80% for 2008)
NOW...... If your company is paying "per diem", generally, they will not pay enough to cover the $52 a day allowance. Therefore, you can figure up what per diem would be at the standard daily rate and then subtract what your company paid and you can deduct the rest off your tax return.
Just a minor, but could mean something to someone's tax return.