The tax code for the United States is over 50,000 pages. Buried in this code is the subject of per diem rates, a topic that can save businesses money on their taxes.
Per Diem Rates and Business Taxes
Understanding the Internal Revenue Service 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 work their way into gross revenues and potential deductions. In order to successfully get the best rates and save the most money, it is incredibly important to understand some of these complex concepts, such as 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...
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