Per Diem

Money is an essential topic of discussion in a person's daily life. Everything tangible almost always has monetary value. The food we eat, transportation we take to and from work, or to and from school, electricity, city gas, sometimes even water bills are compensated with money. It is of no wonder, therefore, that the average workman is concerned with per diem allowances.

Per diem refers to the daily rate of any kind of payment, or can also mean a monetary compensation of sorts that the company gives to the worker for travel, and living allowances in connection with work.

The Internal Revenue Service assess different per diem payments varying on locations. Locations which have higher cost of living such as New York City and Las Vegas, Nevada have higher per diem payments than from Hamilton, Montana or Juneau, Alaska.

Foreign countries are also assessed differently. More urbanized cities in countries with higher income per capita have higher per diem rates than those with lower income per capita.

The maximum and minimum per diem rates of foreign countries are not set by the company's prerogative but by the US Department of State on General Services Administration . Per diem rates are established monthly.