It's a non-reimbursed employee business expense and can be used whether or not you itemize. But you use the 1040 long form to claim it. current rate is $59.00 per day you can claim 80% of that for full days away from tax home, on days leaving or returning home are partial days and can claim 75% of the $59.00. Depending on how many days you are out, it can be $10-15,000 deduction. talk to a tax professional that deals with the trucking industry not H&R Block or any other ordinary tax preparer. They know nothing about Trucking. I learned that the hard way. just my $.02
Per Diem
Discussion in 'Schneider' started by GyrrwrLori, Feb 6, 2012.
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In case you missed the point of my post. It was in reference to the remaining per diem not recorded by the company in their plan. -
My tax Accountant told me if the company pays per diem you cannot itemize and claim both. He did not tell me the code and he is a Trucking Tax Accountant. Now I haven't been on per diem but did ask the accountant a couple years back to make sure I got the most deductions.
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Most companies that pay per diem do not meet the max of 59.00 per day. You can then itemize the difference. With the limitations of the 2% of AGI and the 80% limited amount there is not much available.
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