If you are a regular business traveler incurring expenses, This is your heads up that as of Oct1, there are new IRS per-diem rates in effect.  The daily business traveler expenses are broken into three categories:

  1. Special transportation industry meal and incidental expenses, or M&IE rates
    • $66 for locations in the continental United States (CONUS)
    • $71 for any location outside of the continental United States (CONUS).
  2. Incidental expenses only deduction is $5 per day
  3. Rates and list of high-cost localities for purposes of the high-low substantiation method.
    • $297 for travel to any high cost locality ($71 as paid for meals)
    • $200 for travel to other locations within CONUS ($60 as paid for meals)
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If you are unsure of which rates you should be following, come see us at AcctServices.org to find an accounting professional who can answer your questions about how to structure your business travel expenses, business tax planning and other accounting services.