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.
A. Per diem is a Latin term that literally means per day.. A per-diem CPA is one whose rate of pay is based on a day of work, rather than on a full-time salary. The term per diem is also used sometimes to indicate a flat fee for daily reimbursable expenses, such as a per diem for full-time employees who travel. People who work on a per diem basis are often called contractors. Contract work is an alternative to full-time employment that has become more popular in the last decade. In 2004, according to the Bureau of Labor Statistics, approximately 10.6 million people in the United States were classified as self-employed.