14 Oct 2015 Meal and Incidental Expense Per Diem Rates
Many of you travel quite extensively for work and actually enjoy it, bless your heart. That life presently is not for me. With a young family to raise being home at night is HUGE.
Perhaps one day though as the international aspect of my practice continues to flourish I will find my self in all sorts of different places and will be thankful for the per diem rates.
As per IRS Notice 2015-63 the per diem rates effective 10/01/15 that you can use to substantiate expenses for lodging, meals, and incidental expenses (M&IE) when traveling away from home have been posted.
Prior to 10/01/2015 the M&IE rates are $46, $51, $56, $61, $66, and $71 depending on where you sleep.
As of October 1, 2015, the M&IE rates increase to $51, $54, $59, $64, $69, and $74. If you might be inclined to dig deeper the full per diem tables by state and key city can be found at www.gsa.gov.
The special M&IE per diem rate for taxpayers in the transportation industry is $63 for travel in the continental United States as of October 1, 2015. It was $59 for travel before October 1, 2015.
You can choose to use the new rates beginning October 1, 2015, OR continue to use the old rates for the entire year. Don’t fall over yourself thanking the IRS for allowing us this ridiculous option.