what we dont need, is you giving out incorrect information. $47 a day? lets try $59 a day.....congrats, you just shorted yourself over $12 a day for EVERY DAY you were out. 250 days (just a guess) x $12 = $3,000 in per diem you lost out on. I'd get a new tax-man........unless you did it yourself. that would explain everything. HAHAHHA Should kinda know what you're DUE rather than taking someones word for it. just saw your post and see where you got your number. I for one would rather take it all at once at the end of the year rather than taking per diem thru the company. taking it thru the company....means you're taking it in the ........ well u know.
You need to follow through with the computation and you will find RugTrucker is close. However, you both lost on the deduction for a company driver. The daily per diem as you state is 59.00 The deductible portion is 80% which is 47.20 The remaining amount of 47.20 per day is then subjected to the 2% of AGI floor calculation.
been using turbo tax for years and always do well per diem doesn't help the driver, BUT it does help the company..? it saves THEM 7.5% in taxes that they don't have to pay the gov. their part of ssn and the like. my pay stub always shows HOW MUCH MORE IF PER DIEM and it's a joke. same ware around $30-$60 a week remember that milage base pre deim doesn't pay you when you are taking a 34hr restart, waiting over nite for a load, orientation, waiting for a truck, waiting for a trainer, BROKE DOWN..... without per diem i make (pre tax) $10,000 more per year and i get to write off $17,000 per diem
If you are getting repairs at your home terminal, can't deduct the time. I live 185mi. from my "home terminal." If you sit and do a 34 you use your log book for additional deductions.
you saying if you're taking a couple days to get work done on your truck at your home terminal, but you're not "home-home", you can't take per diem? You wanna bet?? If i'm not sitting in my man-cave, able to have a beer, call friends over to play some poker or basicly do whatever i want to do, if i'm doing ANYTHING related to the operation of driving a truck while NOT at home....then my friend, i am "out on the road", and i still will claim per diem.
Call the IRS and they will tell you different. Doesn't matter what you claim. They have their rules. Get caught? Pay the piper.
