per diem

I used a regular CPA my first couple of years out. She did a decent job, but does not specialize in the trucking industry. While I have no complaints about her, I did end up moving to an office specifically for trucking and independent contractors. It made about a 25% difference in my favor. I expect with the establishment of my LLC and move to Texas that I will see a further reduction this year.

My advice is go to someone who knows the specifics of transportation. You wouldn't go to a Family Practice physician for heart surgery. The same concept applies here.

Regarding the original question: if per diem was such a boon to the company, they would not give you a hoice. You would just get it. I understand some companies do this. I don't understand all the ins and outs of it and, therefore, will not venture an opinion. Talk to a transportation accountant, lay out your specific situation and, with the information given to you by your CPA, make your own decision.

 

injun have your new tax person go over your last few years returns if they find something they can send in an amended return to get you more.

also for everyone if you file a STATE RETURN remember that some things that you can write off on the fed return you CAN'T on the state.

my old co-driver got popped by GA for writing off shirts with company logo's (not uniform) according to GA but ok by the fed's.. cost him $280

 

AFAIK they can't force you to take it by law. They can sure coerce you and try and convince you to take it. I read here that Werner has you watch a movie on how wonderful perdium is at orientation. Maybe Roehl has you do it during your training? Not sure about that.

AFAIK Swift didn't have it! There was no discussion of it at orientation. That doesn't apply to all terminals.

 

There is a macro on the qualcomm for per diem. I think it's one way only though lol like you can check in, but you can never leave.... Hotel California

 

Just started running for an owner op, pays $59 a day perdium plus 25% of gross. He is deducting the perdium from the 25%, i think after taxes. I am gone 5 nights a week and home on the weekend. Is the perdium hurting me and is it being taken out properly??? Input needed!!!

 

You are getting hosed. Tell him to keep the perdium and you deduct it from your taxes.

He is trying to save on his worker comp. He is probably going to 1099 you too. That would be illegal.

 

Ok explain it for a new guy heading out to begin training in October.

If I claim the per diem will my checks (take home) be larger?

I have 5 kids to claim at tax time, so I have plenty of deductions.

I am looking for maximum weekly paychecks, I already have a retirement, and doubt if SSI will be here when I retire in 30 years.

thank you in advance.