LLC taxed as Scorp. Per Diem no problem?

Thanks!

 

So if you pay yourself on W2, say 50k (notwithstanding the other deductions), the aggregate of the Per Diem ( $59 per day) is subtracted from the 50k, and you only pay the 15.3% self-employment tax on the remainder? So, say you stay out 334 days per year, then: 334 * $59 = $19,706. 50k - $19,706 = $30,294. Thus, only $30,294 is subject to the 15.3% self-employment tax, correct?

 

Makes sense. Maybe the IRS looks at the Per Diem as a company expense to pay for the employee's meal expenses. The company then forwards it to the employee, but not as taxable income. Rather than the employer paying each place the employee had a meal at. So it looks like the company does not have to pay tax on Per Diem, and the employee also does not have to pay tax on Per Diem. Correct?

Also, what is the max Per Diem amount tolerated by the IRS, $59 per day?

 

And that 80% is deducted from the company side income it appears.