Per Diem is Great...

Simple math is $52 a day X 300 days? $15,600 in deductions! I would say that is plenty! Only receipt needed is your log book.

 

I am to old to argue, check with a real professional that knows trucker taxes. I know it just went up, but you only can use a percentage of it.

 

I think you do have to fill out the long form. (I am not a tax preparer!) If you pay somone to do your long form 100% of that cost is deductable.

I would bet a dollar to a donut many tax preparers don't know a bunch about truckers.

My guy took care of my taxes as I was a self employed floor covering installer.

 

You could be right about the tax preparers. Many do not know about it until they are told. I have been doing returns as an enrolled agent since 1982. I did not get a trucker return until 1992.

I started driving in 1999 and since then I have encountered many since then.

 

Reading the first page will explain alot.

 

Please correct me if I'm wrong here, but --

I've worked for three companies which offered per diem. One of those companies, my current one, pays less per mile if you opt for the per diem. Two companies paid the same mileage rate, regardless of whether you opted for the per diem or not.

I consider my current company a complete ripoff, since why should they reduce my pay rate, when the per diem itself already saves them piles of money? So I don't participate, what with it actually costing me more over the long run.

However, the two former companies, I did accept the per diem, since the pay rate was the same. Basically, it got me my refund over time (rather than in one big sum after filing), and it flat out saved me the 6+ percent for Medicare/FICA that I would have paid on the money I got for the per diem.

We always file a long form return, regardless.

So, isn't per diem a good idea if the company does not reduce your mileage pay rate, but a very, very bad idea if it does?

 

Evidently jtrnr1951 you are right. 80% of the daily deduction is applicable. 10% or more of your cell phone is deductable.

There is other deductions. Like I said, I am not a tax guy.

I am sending a link to my friend to this thread. He is rolling through the Carolinas right now.

 

Soooo can anyone lay it out for me so I know which route to take, and why I am taking it?

I am going to be a company driver and do not own a home, so I do not have any deductions. I am single with no children....thank you for advice.

 

Get out your calculator Burgs. Simple math. Guestimate how many days you are going to be out. Take 80% of $59 X however many days that you are out. 10% of your cell bill. That $59 may be for eating only. You still have showers etc.

You will have enough money to deduct.

 

Without the deduction don't you have to have receipts to prove spending? Because I will not spend even close to $59 a day on food.