Trucker taxes??? little help please

any will do, but turbotax won't get the per-diem part right, I've had to manually edit it to come up to the right number every year. but it's not a big hassle.

 

Ditto, you have to do the per diem yourself, but other than that any version will do. I have been using Turbo Tax since I have been a company driver and it has always worked well for me. Just make sure that you have the supporting paperwork for your per diem claim, ie your log book pages, or whatever the company gives you from the e-logs. Also check your state tax laws, I know in PA we can claim the same per diem as on our Federal taxes.

 

i think u have to itemize to use the per diem, but i could be wrong.

 

TurboTax is the only one I seen that asks if you are a transportation employee. paoldschool is correct, they have a glitch in the software. It still gives the 50% rate over 80%. You have to fix it yourself.

But TurboTax is easy to use.

Avoid taking the weekly perdiem deduction from your employer if all possible. It hurts many benefits which are based on gross amounts. You'll get it all tax time anyways.

 

Yes you itemize on schedule A and fill out form 2106 for per diem. Most truckers benefit itemizing.

 

You only get 80% of the $59=$47.20 a day.

Never take perdium pay from your company! Learn how to manage your money.

If you ever have to file for unemployment, or worker's comp it will bite you on the ###. (less money.)

Perdium only benefits the employer.

 

Yes and if you are trying to qualify for a Mortgage or other loan, your W-2 income is reduced by the the amount that you got that "per diem advantage". And they do not want to see or hear that you actually made more.

 

guess it really depends on which form your filing a 1040 or 1040a which are the simplest ones..already allows you an $8500 standard deduction if you itemize and you cant come to a higher dollar value than the standard $8500 including your per diem. you are just basically wasing time on it...