2005 Per Diem info?

[Twmaster]

What is the per diem rate for the 2005 tax year?

Also, what qualifies for use of this? I know if I am home or running local for the day I cannot claim the diem but if for example I go on a longer trip that takes me away for two days (overnight one night) can I deduct 2 days worth of diem or just one?

Thanks!

--
Mike N

Faster than a speeding poulet.

 

[Twmaster]

Thanks Frank. That is exactly what I needed to know.

--
Mike N

Faster than a speeding poulet.

 

[Fkatz]

Hi Mike N.
Your Question was:

What is the per diem rate for the 2005 tax year?

THE CURRENT DIEM FOR 2005 IS $41.00 US AND $46.00 CANADA AND MEXICO

Also, what qualifies for use of this? I know if I am home or running local for the day I cannot claim the diem but if for example I go on a longer trip that takes me away for two days (overnight one night) can I deduct 2 days worth of diem or just one?

Yes, the 2 days qualify for the diem as long as you have an overnighter, but it would depend on the time you left your home and the time you returned. meaning it is based on 1/4 days- midnight to 6 am full day, 6am to noon- 3/4 day, noon to 6pm 1/2 day and after 6pm 1/2 day. wexample

if you left your house or terminal at 7AM on a Monday Morning, and returned 5 PM tues your diem would be based on 1.5 days not 2

Frank

 

[roadweazel]

Hello, can you clam the perdim ontop of the standard milege deduction?


Thank you Jason

 

[Fkatz]

Hello, can you clam the perdim ontop of the standard milege deduction?

Thank you Jason

Hi Jason,

In answer to your question, the per diem is a separate deduction and you are able to claim it. This is only if you are on the road and stay out more than 1 night, Inother words, you can not be a local driver and you must, you must have proof of the pick-ups and delivery bills of ladings if you are audited for it.

As far as the standard mileage deduction it must be in a Cargo van, pickup with box, or a Van Body with a box. You can not claim the standard mileage deduction if you drive a "D" Straight truck, or "E" unit Tractor trailer.

Frank