Per Diem

High Quality Content by WIKIPEDIA articles! Per diem is Latin for "per day" or "for each day". It usually refers to the daily rate of any kind of payment. It may also refer to a specific amount of money that an organization allows an individual to spend per day, to cover living and traveling expenses in connection with work. It is the allowance given to the employee/worker for completing a task or going on tour away from home. U.S. companies and organizations use the per diem rate guide published by the General Services Administration, which provides rates for a number of cities in the United States. When an employer reports an employee's earning at the end of the year on a W-2, per diem is listed separate from taxable income, under 'Misc. non-taxable'. Per diem is understood to include the additional expenses incurred living away from home basically having two residences. The IRS sets the maximum amount of per diem each year based on the location for instance, New York City has a higher rate than Gadsden, Alabama. To qualify for per diem, your work-related business activity should be at least fifty miles from your tax home, and require an overnight stay.

Klappentext

High Quality Content by WIKIPEDIA articles! Per diem is Latin for "per day" or "for each day". It usually refers to the daily rate of any kind of payment. It may also refer to a specific amount of money that an organization allows an individual to spend per day, to cover living and traveling expenses in connection with work. It is the allowance given to the employee/worker for completing a task or going on tour away from home. U.S. companies and organizations use the per diem rate guide published by the General Services Administration, which provides rates for a number of cities in the United States. When an employer reports an employee's earning at the end of the year on a W-2, per diem is listed separate from taxable income, under 'Misc. non-taxable'. Per diem is understood to include the additional expenses incurred living away from home-basically having two residences. The IRS sets the maximum amount of per diem each year based on the location-for instance, New York City has a higher rate than Gadsden, Alabama. To qualify for per diem, your work-related business activity should be at least fifty miles from your tax home, and require an overnight stay.