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| US X per diem, I need someone that knows Just hired on with US X and at the end of orientation they asked if I wanted the per diem and of course I said yes. After I signed for everything and got my employee handbook and started looking through it I think I got screwed. I need someone that has first hand knowledge of thier program to answer this. If I am reading it right, US X is taking 25% of my milelage pay to "off set their cost" Now is this % the tax free per diem and I'll still recieve it or did I just give 8.5 cents per mile away |
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| I am not sure But I would like to know too. They are on my list of companies to check out from the GATS truck show in Dallas
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Sarcasm_PhD (09.05.2008) | ||
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| If you don't take the company per diem you can claim the per diem yourself on your tax return . Allowing the company to deduct per diem results in a lower gross income . Last year I was eligible for $6,000 in deductions for per diem but I am regional and only able to claim per diem 2 or 3 nights a week . If a driver earns $50,000 but per diem reduces that to $40,000 , it could prevent the driver from having as much money available for a mortgage if he buys a house and he will have less SS benefits available when retiring or if disabled . Companies will underpay per diem because they would be penalized for overpaying . Drivers should calculate the total per diem deduction they qualify for . If they qualify for $9,500 and the carrier only shows $9,000 they can claim the additional $500 . |
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Sarcasm_PhD (09.05.2008) | ||
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| Quote:
Okay one question? As you stated above about the "claim your deductions" is this for anything i buy on the road or for the truck?? Am confused just a little. To make it simple should i save every last recepit of every purchase i made til tax time? Any advice to help me clear this up with helpThanks!!!
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| Save all your receipts, then give them to your tax preparer at tax time. I believe per diem is 52$ per day for food and necessities, anything additional you buy, cb , tv, etc. Should be an additional deduction. Goes on form 2106, employee business deductions, which then goes to schedule a, where your mortgage interest goes, so if you have no mortgage interest it may not benefit you. Ask someone who knows about taxes. |
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| You should talk to a tax preparer when you start driving to learn what you can deduct rather than wait until tax time to see what you could have deducted . |
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