I'm pretty sure it will reduce your vacation pay. Vacation pay is based on average weekly gross income (from what I was told). If that's the case, you'll get less vacation pay as well.
Per Diem
Discussion in 'Schneider' started by GyrrwrLori, Feb 6, 2012.
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I hope this is an ok thread to ask this.
My husband is 2 weeks on the road with Schneider. I am very unclear and unsure about the per diem payment he is receiving. My quesiton is: Do we have any reporting requirement on our tax return regarding the per diem he is receiving? They are paying him $.11 per mile taxable and $.16 per mile untaxed. Right now this is amounting to NO federal taxes beign withheld. I am unfamiliar with the per diem and would appreciate someone with knowledge clearing this up once and for all for us so I know how to plan and what to expect come tax time.
Thank you
Liana -
no additional reporting needed.
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Subscribing, because I can never find these threads when I look for them...
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Your per diem will b on your w4. When you or who ever does your taxes it'll b asked. Just because your taking per diem doesn't mean u can't apply more. How it works it'll ask how many days you where away from home. Multiple it by the rate think it's $49.00 a day. Take that total and minus what you recieved from sni. That's how much more your owed. As a trucker you really shouldn't do your own taxes, there are so many deductions you can take.
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In reality, with the per diem, after the itemized limitations, probably not going to be much.
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