Per Diem CPM tax implications and other questions.

If you're not in the road the point of per diem is to help with the higher cost of everything. So if you're home it's cheaper anyway.

 

If that's true. Per diem will need to go from $72 to $172 this year.

 

What is M&IE Per Diem?
It's the whole point of per diem.

 

Yes. But first in general, the average rate of return in 2019 was 9.5 %. Now 5 to 8%. This doesn't include fees. That pace doesn't keep up with cola or inflation.
Specific. I had a 401k at a former employer that was up to $126k. Losses took it to 72k. Ex mother in law had 100k that became 52k. That was with USPS a Merril Lynch account. That was a long term fund. My daughter started one in 2016 and it is worth less than she has put in. I tell her it's a long term thing let it grow. But she has trouble wrapping her brain around that lol.
Look it's just my opinion, but I think you can do better with a wet turd farm than a lot of 401k.

Now if there are solid employer contributions that changes the game.

 

Doesn't include fees. How much are fees?

I know people that are putting in their papers and getting upwards of $3K a month from SS.

That's forever until they die. And it will go up.

So that's $36K a year tax free. 5 years $180K.

You're account that is better as you stated earlier that has $126K in it, that will continue to pay $3K a month forever? Yes?

 

I figured it was all free cause dad never paid a dime.

 

When I got the mortgage in 2017, my 2016 W2 had 8 months income on it and I had no taxable income or W2s for the 13 previous years (long story). That W2 had maybe $35k taxable income and they gave me a mortgage for $150k, actually pre-approved me for $275k, but I didn't want that much.

I was told by the mortgage broker that they would look at my actual pay stubs and bank payroll deposits when calculating how much they would lend me.

I guess he wasn't being honest or flat out didn't know how to do his job.

 

No ... he knew his job. I used to be a loan officer. Pay stubs verfied with deposits are the primary driver.

Tax documentation is for business, 1099 or otherwise unverifiable income.

 

And as a corporation, I'll deduct the per diem. I'd like to pay less in taxes.