Central Refrigerated Truck Stop II

Lets say that you make 34 cents a mile and that 10 cents of that is per diem. You will be taxed on only 24 cents of that, per mile. The benefits of that.... go mostly to the company. This is a very simplified explanation.

There are other threads on per diem, both pros (not many) and cons (lots). Won't go into that here.

 

with my company. it's not taxed as with all companies. it wasn't reported on my w-2's either.

try explaining to a loan officer that you actually made more money.

 

Central unless they have changed the numbers in the past year, pay .08 cpm of your pay as perdiem.
I think that it is a good number and for most purposes is not negative.
The positive is that it makes it so that your gross and net pay are close to equal. That means more of your money in your pocket during the year, and not in Uncle Sam's pocket.
At the end of the year when you do your taxes you will see the perdiem in a box on your w-2. It is a reimbursement. So does not count toward your gross earnings for taxes.
If you can itemize anyway you will still be able to claim the rest of the perdiem you are owed on taxes.

Perdiem is 59 dollars per day that you are on the road away from your tax home for a 10 hour break.
You get to claim 80% of that on your taxes.

What perdiem pay does is pay you part of that on your paychecks as an untaxed reimbursement.

When doing your taxes you do them like everyone else. When you have your total number for perdiem down, you subtract the money you are already paid from that amount, and can claim the rest. You can only do this if you itemize.

The negatives of perdiem pay.
Less social security income, so can lower what you get later.
Less disability pay if hurt.
Lowered income when applying for a loan. Since they only look at taxable income.

 

thanks....I also have a question about pay. can u get direct deposit or your money on a comdata card?

 

No it all goes to comdata but you can go thru the company and elect the direct deposit option where the company sends your pay to comdata and then comdata then direct deposits it to your bank or you can elect a certain amount to go to your bank and the rest to your card. I just had all go to my bank and used my debit cardto get money out on the road. I also have online banking to manage my acct and pay bills out on the road. Most pay will hit the bank within 24the hrs and some might take 48. Each bank is different. I use wells fargo.

 

West valley detention center. I don't think the .39 a gal I'm trying to save by buying fuel here is going to make up for the time I'm losing waiting to fuel.

What a joke!

 

Or the time you will loose when they red tag your trailer.
I hated going into that place. Red tag every time I went in.
But the food was good.

 

Yeha the inspection bay sucks i tried to avoid wvc as much as possible or go in really late at night.

 

I was hardley ever there when the cafeteria was open...

 

<raising hand>

We also avoid West Valley as much as possible!! We have to schedule in at least two hours to our trip planning just to go there.