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Michael DiSabatino of Sharp CFO™ offers expert insights to help you unlock your business's full potential by delivering proven strategies for maximizing tax savings, streamlining operations, and driving sustainable growth.

2014 Fiscal Year Per Diem Rate Increase - Start Now...

b2ap3_thumbnail_business-strategy.jpgEvery year,the General Services Administration (GSA) establishes per diem rates for government employees in the 48 states in the continental U.S. and the District of Columbia ("CONUS" rates); in areas outside the continental United States (Hawaii, Puerto Rico and U.S. possessions ("OCONUS" rates); and in foreign countries.

The IRS says that private employers may use these "per diem" rates as a record keeping shortcut to reimburse employees for business travel with no hassles.

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