Dont understand Per Diem....

If you are young you should go to your bank and have them set up a Roth IRA. It is not tax deferred but all your gains are tax free and you do not pay taxes on it after you retire and draw it out.

 

I agree with you, what goes up must come down.

 

One thing you should always remember, No one changes the rules to benefit the player. The Per Diem thing is something that companies figure out to make them more money. Period. You don't have to look into it too deeply. It is something that saves them some money on taxes. You lose out a bit on your Social Security. When you go to a bank for a loan you pay higher interest rates because your credit score is lower due to the fact that your income does not count the per diem.

Now when you go to Vegas, look at all the bets that are in Big letters. Those are the sucker bets. IMHO

 

Exactly, it saves them money on their taxes. They take off road expense for 1000 drivers, that cuts their gross way down. The lower the gross, the less the taxes.

 

If the trucking company offers it, it benefits them more than you... period
Just like those companies that offer those flease scams

 

Yeah np I just misunderstood. I am bored in my sleeper waiting to get my hours back.

 

Not to mention the money they save on F.I.C.A. and Medicare

 

How does a Roth IRA account work? Do you have to deposit money yourself or can it come out of your check like SS? Also what if you wanted to withdraw the money before retirement age? Thanks in advance.

 

LOL yea I know that feeling.

 

But remember..you save on it as well..

As far as it reducing your credit score it does not..the only thing that lowers your credit score is not paying your bills.

I buy a new car every 3 years and have not had to provide an income statement in 20 years.