Healthcare Traveler - December 2008 - (Page 67) Tax Facts Joseph Smith ISSUES AND ANSWER S FOR TR AVELER S May I deduct for meal allowances? M ost healthcare travelers who are away from their tax homes and working temporary assignments may deduct a meal “per diem” for each day spent at an assignment location. To simplify recordkeeping, the federal government has a standardized table for domestic per diem rate allowances, which is broken down by locality. These rates are found in IRS Publication 1542 and on the U.S. General Services Administration (GSA) website, www.gsa.gov. The table eliminates the need to keep grocery and restaurant receipts, allowing for an easier method of determining meal expenses. Determining what to deduct When a travel company supplies you with lodging but does not provide a meal allowance, you can deduct the full, daily meal per diem for each day you are away from your tax home. Occasionally, some staffing agencies will pay a meal allowance as a part of your compensation. But what happens when that allowance is less than the published government rates? You still may claim the full meal allowance less any reimbursement provided by your company, which translates into an additional meal deduction—despite the fact that some of it was reimbursed. Circle Career Card No. 617 How lodging expenses differ Only your actual lodging expenses—in excess of any lodging allowance—are allowed for a deduction, regardless of the GSA table for the state. This holds true for employees, self-employed contractors, or any persons working for their own companies. Do you qualify? Don’t forget to deduct meal allowances on your tax return. When itemizing, it can be a great source of savings. Again, you must have a tax home to qualify for this advantage. HT REFERENCE CCH Incorporated. (2008, September 25). Revenue Procedure 200859, I.R.B. 2008-41. Code Sections 162 and 274. Any tax advice contained is not intended or written to be used, and cannot be used, by the recipient for the purpose of avoiding penalties that may be imposed under the Internal Revenue Code or applicable state or local tax law provisions. Joseph Smith, RRT, EA, is an enrolled agent and owner of TravelTax LLC (TravelTax.com), based in Norfolk, Nebraska. December 2008 Healthcare Traveler 67 Circle Career Card No. 647 http://www.medicalconnections.com http://www.gsa.gov http://www.medicalconnections.com http://www.umcarizona.org http://www.umcarizona.org http://www.TravelTax.com
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