Per diem, Standard deduction and itemized

Discussion in 'Trucker Taxes and Truck Financing' started by Buckeye 'bedder, Feb 9, 2011.

  1. Roadmedic

    Roadmedic Road Train Member

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    Apr 4, 2007
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    I missed that you had a mortgage.

    If so, then the interest, real estate taxes, withholding and the per diem deduction WOULD be better than taking the reduced plan on the gross.

    I have not seen many that would be in benefit for it.

    When I first got into the trucking, the company did the per diem without my approval. I only worked as a company driver for 3 months so it was not an issue. I also was not paying enough interest or anything to itemize so it we did not worry about it.
     
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  3. WRIGHTRACING

    WRIGHTRACING Heavy Load Member

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    Jan 3, 2011
    Iuka MS/Muscle Shoals AL
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    Great...So this means I will get more back at eoy to make up for the extra paid in...thanks for your help. I still need to run by my person that does taxes and see if I can get some info from him. Not sure if he can do trucker taxes, but he's done business taxes for years, so maybe he knows what's what...Either way, that is the answer I am looking for, total money coming home, needs to be more...If I have to wait, then I will spend less thru the year
     
  4. Kittyfoot

    Kittyfoot Crusty Ancient

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    Sep 21, 2009
    Sorrento, Louisiana
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    Hey buzzarddriver....... this is MS. Kittyfoot..... kittyfoot is on the road and told me to come here to find info on the predeim junk!!! Thanks alot as you really helped me and now I can go finish the stupid taxes. I knew how many days he was on the road, and knew to use the DOTD rate of 80 %, but did not know how much was allowed for meals per day!
     
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