Business travel expenses and per diems

Kitten2019 · ‎September 06, 2019

Help!

Here's the situation:

Have a corporation with me being the only person in it
Travel for business and use company credit credit card for all meals, taxis, local SIM card
Billed my client for a per diem for the duration of the trip
Air travel and hotels are paid for using company credit card
Billed my client for travel and hotels at cost and am reimbursed in full by them.

Question:

How do I categorize the meals, taxis, local SIM card expenses on the credit card?

Would these be 100% deductible as the per diems are basically covering the costs?

I think the CRA only allow for 50% for meals and expenses to be covered, but how are these different from the travel costs that I'm reimbursed for which are 100% deductible?

JamesM · ‎September 06, 2019

Hello there,

I appreciate you reaching out to the Community. I want to make sure you get the best answer on how to enter the transactions.

I recommend contacting an accounting professional. If you're not in contact with one, I encourage searching for one on our website using this link here. Doing this will help prevent any future discrepancies. Let me know if you have other questions. I'm here to assist.

Kitten2019 · ‎September 06, 2019

Hi James,

I know that I can contact an accountant and pay $300/hr for them to answer my questions. I am hoping that another QB user has encountered this before and can advise on this.

Make sense?

JamesM · ‎September 06, 2019

I see what you're saying. The good thing is that your post is public and our Accountant Members will hopefully chime in on this when they see it. In the meantime, feel free to ask other questions.

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Business travel expenses and per diems