Seize the Day with Simplified per Diems
![per diem. meaning - what does per diem. stand for? per diem. means - 1. Lat. by the day. 2. A sum of money paid or given to an employee to cover daily expenses. 3. In the cruise industry, the daily cost of a cruise to the passenger.](https://dmsnydercpa.com/wp-content/uploads/sites/2082/2021/11/Per-diem.jpg)
In high cost locales, employees can get $292 tax free each day. The daily stipend is $198 for other areas. For meals and incidentals only, the rates are $71 a day in high-cost areas and $60 elsewhere. The per diem rate for incidental expenses is $5 per day.
Self-employed individuals can use the meals and incidentals rate but not the higher rate that includes lodging. Self-employed individuals must be substantiated separately…