Tax Tip #163

Taxpayers who travel away from home for business purposes can deduct per diem rates for travel and meals provided by the IRS. Based on the Tax Cuts and Job Act, this benefit has been suspended for employees but is available for employers to reimburse their employees and for independent contractors, business owners and sole proprietors. A taxpayer may claim actual allowable expenses if higher than the per diem rates based on adequate records or other sufficient evidence for proper substantiation.

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