Per Diem Deduction Question - Taxes

[BluDevAv8r]

On October 1, 2005, the GSA increased the FY2006 per diem rates substantially. Now even though they are for FY2006, does that mean I can use those rates for my 2005 tax return since they are effective 10/1/05? If this is the case, it will help people out significantly.

-Neal

 

[Chip]

go to www.prodiem.com

i wrote off 3500 in per diem expenses this year. use their service, its solid, and the IRS fully approves

 

[StaySeated]

Neal, I hate to actually answer a question on flightinfo with information that could be beneficial to another pilot but hey, lets try something new.

"GSA is changing some FY 06 lodging per diem rates in the States of California, Colorado, Florida, Idaho, Missouri, New Jersey, New York, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, and Wisconsin. Also, GSA is changing an FY 06 M&IE rate in Illinois. The effective date of these changes is November 20, 2005. See GSA Bulletin 06-3 for more detail."

As for deducting perdiem, you only get a percentage of the difference between what your airline pays you and the current rate. If you are feeling motivated, go get four cold beers out of the fridge and drink one immediately. Then take the other three back to your computer and read IRS pub 463.

This has been a "bottom-feeder-race-to-the-bottom-raising-the-bar-taking-a-stand-last-bes- and-final-offer" free post.

 

[BluDevAv8r]

Neal, I hate to actually answer a question on flightinfo with information that could be beneficial to another pilot but hey, lets try something new.

"GSA is changing some FY 06 lodging per diem rates in the States of California, Colorado, Florida, Idaho, Missouri, New Jersey, New York, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, and Wisconsin. Also, GSA is changing an FY 06 M&IE rate in Illinois. The effective date of these changes is November 20, 2005. See GSA Bulletin 06-3 for more detail."

As for deducting perdiem, you only get a percentage of the difference between what your airline pays you and the current rate. If you are feeling motivated, go get four cold beers out of the fridge and drink one immediately. Then take the other three back to your computer and read IRS pub 463.

This has been a "bottom-feeder-race-to-the-bottom-raising-the-bar-taking-a-stand-last-bes- and-final-offer" free post.

I'm aware that you only get 70% of the difference...I was just wondering about the per diem rate changes. I have since found the answer. You can use FY06 rates for 10/1/05 and beyond since that is when the new rates became effective.

-Neal