per diem - good thing or bad thing?

Its income thats not taxed. Itll hurt anything based on your taxed income.

 

OTOH, if you can't itemize on your tax return, it will lower your taxes since part of your compensation is now un-taxed. The remainder will be taxed as usual.

 

You've got it wrong. Let's say you're being paid 35 cpm, and the carrier chooses to pay you 8 cpm in per diem. You'll see on your settlements a taxable amount based on 27 cpm (35-8 ) and a non-taxable amount based on that 8-cpm paid in per diem. You're still paid the 35-cpm, but you're only taxed on 27-cpm.

 

Companies also charge you to do this. Less CPM for going per diem, So you are losing money off the top

 

Some, not all.

 

Ask a truck driver and you'll get a 15 different answers that don't make sense... Tell me how prime charges you.....

 

Well the last time I was on per diem on the company-side at Prime, they didn't charge you anything...

 

And just for comparison, Roehl pays you 0.015 less per mile if you elect to use their 'tax advantage' pay plan, with which you elect to receive 0.10 per mile as per diem and thus non-taxed. This has the effect of increasing the size of your bank deposit, at the expense of creditable social security, worker's comp and unemployment earnings - and you 'pay' them 1.5cpm for the privilege.