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Accounting, Payroll & Pension Issues/Per diem
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Question
Is a company required by law to provide per diem to an employee when they travel and work away from the company ex. meals, lodging etc.
Hi Alan,
Thanks for your question.
No. A company is not required by law to provide per diem to an employee when traveling.
During my work career I have worked for a number of major companies including the BofA, Kaiser Aluminum, Citibank, The Gap, Safeway, etc. I have alway been reimbursed for "actual cost" which are supported by detailed receipts. I used the company's per diem rate as "acceptable guidelines" in expenditures and not for reimbursement.
I hope this helps.
Regards,
Paul Sid, CPA CFA
FinancialEdge.net
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Answers by Expert:
Paul Sid, CPA CFA
Expertise
I am a CPA and CFA with more than 20 years of assisting others to address a wide variety of tax and financial issues, including: (a) tax and timing for conversion of various retirement vehicles including 401(k), traditional IRA, and Roth IRA; (b) starting date considerations for social security benefits and related tax liabilities; (c) computation of book and tax basis, gains and losses on investments, §1031 exchanges; (d) tax benefits and deductions on principal residence, vacation homes, and investment properties; (e) acquisitions of business properties, computation of bonus depreciation, and MACRS depreciation; (f) tax as related to various martial issues, including dependences, noncitizen spouses, and divorce settlement; (g) review of college funding options and tax attributes; (h) tax computation and investment considerations for fixed and variable annuities; (i) tax considerations relating to gifting by parents and grandparents; (j) tax on employee benefits programs including retirement plans, health insurance, and other benefits; (k) tax on inherited assets including assets, insurance, and other assets.
Paul Sid, CPA CFAFinancialEdge.net
Experience
I have over 20 years of financial, accounting, and tax experience in working with individuals and fortune 500 companies.
Organizations
- Financial Planning Association of San Francisco, webmaster
- Tax Executive Institute, Santa Clara Chapter
Education/Credentials
BS Accounting, CPA, CFA
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