Has anyone set up per diem deductions for their company

everyone that doesn't have per diem taken out of there checks uses it at tax time. just becuase your an s corp makes no difference.

you'd be crazy not to claim that $60 per night. just don't be claiming food and other expenses. your only allowed one or the other.

 

I never tried to split, the corporation was paid and then draws to me. Then I claimed the per-Diem as the employee. I have no knowledge that a corporation could claim per-Diem.

http://www.irs.gov/publications/p535/ch11.html

 

Couple of different ways to do it with a corp. Which plan are you going with?

 

I have been trying to nail down stright answers on trucker taxes myself and it is quite difficult to get answers because so many variables for each individual situation and set up. I was called the IRS to walk me through it last year but this year I took a tax class and found very little information taught on the topic. I was referred to Trucker Tax Service through our lady truckers facebook page and talked to the guy this weekend. he is going to be on a radio program with us next week to answer questions. he said he goes on Lockridge and always takes lots of questions. It would be nice to have a place where different driver scenarios were covered so you could know where to begin. Esspecially for people new to the industry

 

Lockridge has not been on air for awhile.