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Author: Helter Three stars, 500 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121061  
Subject: Re: Can my LLC pay me per diem? Date: 2/23/2001 10:01 PM
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JFour said:
Prior to October 1, 2000 you were note allowed to use the per diem substantiation method for your travel expenses at all, due to the related party rule (ownership of greater than or equal to 10% of the payor).

After 10/01/2000, you are allowed to use the per diem method for meals and incidental expenses only (not lodging expenses).

See the Rev Proc 2000-9 for the rules from 1/1/2000 through 9/30/2000, and Rev Proc 2000-39 for after 10/01/2000. You may find these on the IRS website (sorry, I don't have that address handy to post here).


Does this apply to an employee of an S-Corp that he owns as well? If so THANK YOU THANK YOU THANK YOU - I've been posting this question all over the place!

Helter
p.s. someone should tell varney!
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