Tax Deduction Consulting: IRS Per Diem Rates Helena MT
Company: Estate Conservation Associates
Franklin & Marshall College A.B.
Stanford University M.A.
Years Experience: 34
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Malmstrom Afb, MT
Tax Deduction Consulting: IRS Per Diem Rates
IRS Per Diem Rates
The tax code for the United States is over 50,000 pages. Buried in this code is the subject of IRS per diem rates, a topic that can save taxes for businesses.
IRS Per Diem Rates
Understanding the IRS and all of its workings when trying to fill out your tax forms can be a monumental undertaking indeed. There are many complicated factors that way into gross income and potential deductions with the IRS. In order to successfully get the best rates and save the most money, it is incredibly important to be able to understand some of these complex concepts, such as IRS Per Diem rates.
Employers who pay a per diem allowance to their employees for business travel obviously will seek ways to have this amount deducted which is very understandable considering it is a necessary business expense. The rates released by the IRS each year indicate how much a business can receive in deductions on their taxes from giving their employees allowances for business travel. Essentially, the Per Diem rates give businesses a scale as to how much they can reduce of the amounts that they are considered to have give their employees in wages, thus reducing taxes.
The IRS Per Diem rates are split into two categories. CONUS rates are updated periodically and they relate to the rates for business travel and expenses within the Continental United States. On the other hand, UCONUS rates are posted a bit more often that have to do with the rates in relation to business travel and exp...