Wednesday, April 12, 2006

Banking Some Per Diem

If traveling, and the entity which is sponsoring your trip is willing to pay per diem, it is possible to come home with some extra cash. On top of the fact that you do not need to purchase food at home, you also receive this money. So even if you do not bring home additional cash, you save the opportunity cost of purchasing food. A bit of frugal spending can leave your bank account a bit healthier. One other nice feature of per diem is that it is not taxable. So, assuming the taxpayer was in the 25% tax bracket and brought home $100 during a trip. This would be the equivalent of $125 gross pay. Did someone say bling?

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