Travel Allowance

My accountant has me look at my logs and add up my days gone away..I do standard deductions of 59.00 a day away from the home.Keep in mind that NYC,Chicago and a few more are much more.Last year i did like 72.00 a day while in NYC and Chicago..

I have had my accountant for 20 years now.He charges me 150.00 a year and i write him off too...lol,lol

 

FYI, if you stake the standard rate of $59, you MUST use the standard rate for ALL trips taken during the year. You can't cherry pick the high rate areas.

 

I will toss that at him and ask.He has been in business for 30 years,so that would be a good question...

 

Should be pretty obvious. Been that way for years.


Special rate for transportation workers. You can use a special standard meal allowance if you work in the transportation industry. You are in the transportation industry if your work:

• Directly involves moving people or goods by airplane, barge, bus, ship, train, or truck, and
• Regularly requires you to travel away from home and, during any single trip, usually involves travel to areas eligible for different standard meal allowance rates.

If this applies to you, you can claim a standard meal allowance of $59 a day ($65 for travel outside the continental United States). Using the special rate for transportation workers eliminates the need for you to determine the standard meal allowance for every area where you stop for sleep or rest. If you choose to use the special rate for any trip, you must use the special rate (and not use the regular standard meal allowance rates) for all trips you take that year.


http://www.irs.gov/publications/p463/ch01.html#en_US_2011_publink100033750

 

Thanks for the info.I can't wait to have a nice debate with my accountant on this one.I love this guy and our ''debates'' we have..He will like this one this year.....

 

I have been professionally doing returns since 1982

 

I would say you get 3.5 days away x $59.00...This will help with write offs at the end of the year..

 

You are allowed %75 on the day you are going to your home, none while on home, 75% the day you are leaving. All other days OTR you can claim the daily rate.