Question: Ralph, I was just recently promoted to a sales position with my company and they now require that I travel throughout the East Coast visiting clients. My company picks up the costs of my airline flights and my hotels room, they even have been giving me $25 per day for meals. I was wondering if I have to report the $25 per day as income and if I can deduct my other expenses since I now have to pay for taxis from the airport, hotel laundry services and my meals generally cost more than the $25 per day since my clients are in the larger cities. Please help, this is very confusing to me.
For navigating this tax issue as well as other tax complications, contact Ralph V. Estep, Jr., of Saggio Accounting+PLUS at 302-659-6560 or visit our website at www.saggioaccounting.com