Potential Co. has mandatory Per Deim?!?!?

There are major fines for companies overpaying per diem so most underpay it . If companies don't decduct it you can claim it yourself and get full deduction . Another plus to this is most small business expenses don't add up to justify itemizing . Per diem should be more than the standard deduction allowing you to itemize then add all those other expenses you wouldn't have claimed otherwise .

 

Forced per diem is proof it's a scam that benefits the company. They love it because it saves them millions.

There is nothing one can do when it's forced because the gov't authorizes it.

The only recourse you have is to choose the right company.

That should be a red flag that they'll screw you in other ways too.

 

So per diem is a good thing?

 

That is for you to decide, it is what it is, it DOES lower the amount of income YOU pay taxes on, it also DOES lower your contribution to SS, but IMO, if you are planning to retire on strictly your SS payments, you have more to worry about than Per Diem.

It's kinda like the rate you are taxed on vs. the dependents you claim, I personally want as much of MY money that I can get every week, to do with as I please, others would rather claim max dependents, have more money taken out of their check and have the IRS act as a sort of "bank" for them, so that at the end of the year they get some money back.

I have better things to do with my money than give the gov, a FREE loan for a year!

Again, JMHO

 

So what your saying is that the little bit extra paid by SSI is better than a million dollar life insurance policy purchased with 20% of the added income each month from the lower tax liability created by getting paid Per Diem?? I'm 45, a smoker and have somewhat high blood pressure, I have a $1m (that's million) life insurance policy that I pay the premium on each month and the total of the premium is less than 1/4 of my added net income from my lower tax liability. My accountant takes the extra 5 minutes each year to check and see if I would have been better off taking straight pay or Per Diem and overwhelmingly I am way better off with the Per Diem as opposed to standard deduction or trying to itemize every single receipt to beat the standard deduction.

If I die today my wife and children are going to get a monthly check from SSI and yes it is going to be maybe $100 a month less because I earned Per Diem over the past 25 years but they are going to also receive a check from my life insurance company for $1,000,000.00 or 833 years of an additional $100 a month from SSI. Tell me which way benefits them more? Oh and during the past 25 years we have had more money to spend on quality of life.

As for retirement, if your relying on SSI as your retirement benefit then you have much bigger concerns than whether or not your earning Per Diem. Take the additional net monthly income afforded by Per Diem, use 33% to purchase a term life policy good till your 60 or so then take 33% and invest it in a money market account and take the remaining 34% and take your wife out to a very nice weekend getaway once a month or put it into savings and take her on a nice vacation once a year. If you invest just that 33% when it comes time to retire the little SSI check each month will be laughable compared to the check from your investments.

I'm going to say this as best I can without offending everyone,
SOCIAL SECURITY IS NOT A RETIREMENT FUND OR A LIFE INSURANCE POLICY!!

So, I work for one of the highest paying specialized carriers in the country, we as a company have less than 5% per annum turnover, most of which can be attributed to retirement, medical disqualification and death yet somehow you characterize ALL companies who pay Per Diem as bad.

Some companies who pay Per Diem will screw you in other ways but there are just as many companies who don't pay Per Diem that will screw you in other ways too. Using a broad brush to characterize ALL companies is not really a good idea in my opinion.

And yes companies benefit from paying Per Diem but rest assure they don't do anything that doesn't benefit them as well. They offer health care because it benefits both the company and employee, they offer vacation again because it benefits both. Companies don't always do things just because it's a benefit to them, if they can do something that makes their employees stay longer, work better, live healthier, live longer and overall enjoy their job more I think in my experience it's a benefit to both the employer and employee!

 

double yellow please don't confuse people with facts

 

The IRS auditor on my audit stated it to be 45 miles. She did not provide anything to support this except her opinion and denial of the expense. Now in the hands of appeals court.

 

I just thought you had to be away from home the same day . Suppose you are on e-logs on your way home and run out of miles 30 miles from home . You don't get perdiem for that day ?

 

It was her opinion. It is being discussed as part of the appeal.

 

Was she hot?