Message Font: Serif | Sans-Serif
UnThreaded | Threaded | Whole Thread (4) | Ignore Thread Prev | Next
Author: Helter Three stars, 500 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 122912  
Subject: Re: Can my LLC pay me per diem? Date: 2/23/2001 10:01 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
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!

p.s. someone should tell varney!
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (4) | Ignore Thread Prev | Next


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
Post of the Day:

Are We Reaching Peak Apple?
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.