Guys that live in their truck and don’t go home will take the biggest hit. Some of us will come out about even with the doubling of the standard deduction.
Taxes...
Discussion in 'Experienced Truckers' Advice' started by joesmoothdog, Mar 11, 2018.
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As a driver who stays out in excess of 330 days/yr, last year I accumulated about $3,300 just in hotel expenses trying to make the job more tolerable. I spent that money because I knew I could itemize it at tax time in addition to meal allowance.... guess what? I'll leave most of that in my pocket and start looking to come off the road and having a life again. Let somebody else figure out how to get the food commodities moved over long distances.
Screw the hotel and restaurant industry, congress, and Trump and the horse they rode in on.Last edited: Mar 12, 2018
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The 63 per.diem is gone. On the other hand..if you think your deductions will top 24, 000 this year save your receipts. You can still deduct that if you have to itemize.
LoneCowboy Thanks this. -
86scotty and LoneCowboy Thank this.
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Last edited: Mar 12, 2018
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A CPA can go on an anymous forum and answer questions without a disclaimer.
My signature line doesn’t say that I’m a driver just like yours doesn’t say you don’t drive. -
Or, do you feel it's better if I let a government take the money in taxes or put my money in a mattress, rather then spend that money in the economy? -
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Theyre not just taking it away to screw the driver that lives in their truck, the standard deduction is doubling. I’d be willing to bet that most wont even notice much of a difference. Figure your taxes for last year based on the new rules and see how much it will actually change.
NordicNomadic Thanks this. -
When advice is given by a professional, and that advice leads to a problem for the person taking it, then that person can end up suing the professional for damages (and forum or website) so this is why you see that disclaimer like this one - Disclaimer Statement: The information on tuckers CPAs' posts is provided for general educational purposes only and may not reflect changes in federal or state laws. Before taking any action based on this information, we strongly encourage you to talk to a financial professional.
I am of the opinion that if the poster doesn't explain who they are as they would to any potential client, then they are misrepresenting themselves to others and are not what they say.
Trucking Jobs in 30 seconds
Every month 400 people find a job with the help of TruckersReport.
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