Per diem Calculations

[regionalcap]

The IRS does not allow day trips to count toward your deduction. I have never seen any other tax prep company include day trips.

 

[4.0atRIDDLE]

I used perdiemcalc.com this year. ezperdiem.com works well too. Both are cheaper than the flica report, it just takes a few minutes to enter your schedule.

 

[Fox-Tree]

I should have mentioned...

With some exceptions, ALL of my time this past year was spent overseas....where I believe, there is a great enough disparity in per diem rates to make it worthwhile.

For instance Dubai/UAE is allowed at $526.00/day. I would receive $67.00 in per diem.

Quite a difference in a write off.


YKW

Careful. You're using the maximum per diem rate for Dubai which includes lodging. Unless you are paying for your own hotels, you should be using the M&IE (meals and incidental expense) rate which was ~$186 for this month.

Still a pretty big difference between that and most company's daily per diem rates.

 

[Whine Lover]

Hmm...I'll have to go back and check that.

Thanks.

YKW

 

[Whine Lover]

YOU ARE CORRECT SIR!

I haven't done my per diem calcs. yet, just took a perfunctory glance at the rates when I made my original post....So, I stand corrected.

Yes, the rate of $186.00 per day would be used, and that is still a significant difference from the $67.00 I am paid in per diem.

Roughly calculated ( very roughly ) ....I should have $10-12,000 in additional write offs last year by doing the perdiem calculations.

So, I have that going for me. Which is good....


Thanks for the heads up on that.

YKW