I travel for work/have set amount paid me by my employer for expense, can I deduct the difference on my taxes?
I am a consultant and get a set daily per diem which is very low. Can I deduct the difference on my taxes as an unpaid business expense?
Yes–but why would you work for a company that pays you less than it takes to do the job? I work with per diem people and they make a set amount for their time and the company pays all expenses.
Comments
Yes. Keep a record of which city and when you go, as the IRS allows different amount per city.
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Yes–but why would you work for a company that pays you less than it takes to do the job? I work with per diem people and they make a set amount for their time and the company pays all expenses.
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If you are a consultant, then I assume you are self-employed.
You would take everything they pay you in as income (it will be on your 1099) and deduct everything ordinary and necessary as expenses.
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