In other articles, we have talked about the benefits of per diem to both the trucking company and…
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What is Per Diem?
Per Diem is Latin for “by the day.” In the federal tax world, it represents the expense that an employee would need to work out of location for work. Expenses like food. Every employee working out of location is entitled to up to $66, 80% of which can be written off for tax purpose.
All full and part time employees file W2 for taxes whereas self-employed people file 1099.
As a business owner you must determine whether the people working for you are employees or independent contractors.
Last month, President Trump issued an executive order directing the Treasury department to defer Social Security Tax withholding…