Per Diem , Dont fall for the scam

And you win the bigger prize. Per diem is no longer allowed on Schedule A.

 

I know that. I'm referring to the previous rules BEFORE the tax law changed.

 

As I'm sure Madmoneymike5 was also well aware of.

 

Your comparing Apples to Oranges. Your tax bracket rates or something else in your taxes may have changed. But your per diem exemption was cut, dramatically via Schedule A (no longer exist). Whereby you must rely on the company policy.

 

But you implied kylefitzy got screwed because under the old rules he could of taken per diem and standard deduction, which you couldn't do. It was either or.

 

That is not what I said. Reread my post. I subtracted the standard deduction from his potential itemized per diem. Let alone any other itemized deductions that would now make sense.

 

Guy says, hey, I made the same amount of money last year and paid less taxes and accounting costs under the new tax structure.

Another guy says, you got screwed! LOL

 

Jesus Christ got to get your boots on before you go wallowing in to this post.. lot of comments from the peanut gallery short timeframe
too many chiefs not enough Indians

 

If he would have taken the schedule A per diem in 2017, instead of company. His taxes would have been less in 2017 over 2018. Barring other differences between the years. But because he took the company per diem both those years, the tax rate reduction did lower his taxes. Not because of per diem. In fact, his example is useless in discussion of per diem in this thread and it's changed effects on our taxes.

 

That's that I thought, which would mean, and I'm sorry to throw you under the bus Muskie, Muskie is wrong. You can't (couldn't) have both! Or else, I'm misunderstanding what Muskie is trying to say, and in which case, I apologize again.