I cannot wait to be in your situation. Do you mind me asking how you got there? I love your idea about food, I am also working toward that goal. Is your food supply composed of only legumes and rice type stuff?
Forced Per Diem... Theft?
Discussion in 'Trucking Industry Regulations' started by greaterbaatezu, Sep 5, 2009.
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I am certainly no expert on this, but I think you can do your own per-diem. I think you can get your full pay and then deduct about $40 or so a day you are away from home. No need to let the company steal your money. Let me know if I am wrong.
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Simple driver, simple. Home office, and while you are at it, deduct up to 25% of your square footage as home office space, and 25% of housing costs.
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Doing without a lot of things. Like cable TV, nights out, new toys, new cars, etc
You'd be surprised how fast you can pay things off. So long as you focus on one thing at a time, instead of the shotgun method.
No, my food supply runs the entire spectrum. Unlike a lot of people, I don't buy into the rotate annually BS. Although it does get rotated.
I have a vast variety of canned vegetables, corn meal, flour, dry beans, dry peas, rice, oatmeal, noodles, powdered milk, coffee, sugar, salt, Lard, and various dried/canned meats.
A 2 season supply of hybrid seed. 16 varieties of vegetables.
Along with water purification tablets/filters...lots of them.
That kind of skims the surface. There's enough to hold me and the wife for a year easily. We could accommodate the entire family or a few neighbors for about 3 months. -
The real deal is: the company gets the $42/day write off for every day that you're out from home. (lets base everything on top pay at marten, which is $0.43/mile. You get $0.14 per mile tax free, and another $0.256/mile reportable to the IRS. You do NOT get relief from child support, spousal support, or anything else because of per diem. So, not only are they ripping you off $.025/ mile right off the top, they're stealing your $42/day write off at the end of the year. They get the deduction for the days you're out. You only get the deduction (and then only part of it) for the days you actually run. Any restart, or detention, or layover, you get none of it because you're not turning paid miles.
Then they lie to you and tell you how it's so great for you, and refuse to answer any question with a direct answer. It's all ambiguous statements and smokescreens. -
I run percentage, so I can't tell you about the per mile nonsense you have to deal with. But how ever many days you are actually out on the road is what you are entitled to, and if you are not getting that, then you can deduct the difference when you do your taxes. Yes, per diem lowers your reported taxable gross, so it does lower social security wages, and wages for a credit approval. But it does lower your taxes, and possibly the tax bracket that you would be in. I would much rather keep MY money today, than qualify for more from social security if it still exists when the government says I can get it.
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That .14 a mile can not be used in calculating your child support, spousal support or anything else.
Mark -
WRONG. Wisconsin uses your reported w-2 wages. The Gross. Period. Marten will not keep the perdiem amount off of your w-2, they HAVE to report it.
There is NO, I repeat, NO benefit AT ALL to perdiem. Nothing good comes to you in the long run.RockyWI Thanks this. -
I was told by my CPA that "claiming the difference" is tax fraud.
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Not very bright is he?
You are entitled to 52.00 per day per diem. If the company only has a plan for 30.00 per day. You get the difference.
If the CPA disagrees, better get a new one.
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