How can I calculate my own per diem deduction?
Since per diem rates fluctuate and because there are two distinct methods for computing the per diem allowance, WCG (formerly Watson CPA Group) developed a free online per diem calculator. Pilots, flight attendants, truck drivers, train engineers and business travelers can use the calculator to determine the per diem allowance using both methods.
From there a taxpayer can choose which computation provides the best tax deduction.
Several companies and websites offer a similar per diem calculator, but only WCG (formerly Watson CPA Group) provides this service free of charge. They offer all the taste of a CPA certified tax deduction without the calories of having to pay for it. Cheesey? Sure. But you get the idea.
Visit wcginc.com/free-per-diem-calculator to calculate your per diem deduction.
On your Form 2106, you will enter the higher of the two per diem allowance figures on line 6, column B. Next you will enter your non-tax per diem paid to you by your employer on line 7, column B. Line 8, column B will be the difference between your per diem allowance and the non-tax per diem paid. Lastly, line 9, column B is computed by taking 80% of the amount of line 8, column B.
Or call us, our fees are reasonable. Most flight crew tax returns are prepared for $150 to $200 depending on your situation. This includes your per diem calculations and deductions, plus your travel expenses. Have rentals or a small business? We can handle that too. Check out our fee structure.