SM - a master's degree in science Master of Science, MSc, MS master's degree - an academic degree higher than a bachelor's degree but lower than a doctor's degree
DEFINITION of 'Per Diem Payments'. Generally, a specified amount that employers will pay to employees as reimbursement for various expenses. Per diem payments usually assume a set dollar limit, such as $30 per day for meals or $100 per day for lodging. These payments are usually made for employee travel expenses.er diem payments are usually counted as nontaxable income to employees, up to a certain amount, and any excess reimbursement is included in box 12 of the W-2 form. The IRS allows a preset amount to be excluded from taxation for each type of per diem expense. RELATED TERMS.
(April 2007). Per diem (Latin for per day or for each day) is a daily allowance for expensesâa specific amount of money an organization gives an individual, often an employee, per day to cover living expenses when traveling for work.ny tour of duty adding up to over 500 miles counts as a per diem. One can claim up to the per diem limit without receipts. Note also that as long as you keep a record of the amount spent and the date of the expense, then you do NOT need a receipt for any expense less than $75.