Per Diem tax reporting

Discussion in 'Trucker Taxes and Truck Financing' started by chp56, Mar 16, 2013.

Page 2 of 2
  1. Mar 18, 2013 #11
    Saddletramp1200

    Saddletramp1200 Road Train Member

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    Houston Texas,USA
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    I don't know the answer. My cpa worry's about it.
     
    Saddletramp1200, Mar 18, 2013
    Saddletramp1200, Mar 18, 2013
    #11
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  3. Mar 18, 2013 #12
    Autocar

    Autocar Road Train Member

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    Apr 28, 2012
    The Hot Rod Shop Oxford, AL
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    Per Diem for 2012 is $59 per day, times 80%. If you can claim 250 days, that is $14,750 X .80 = $11,800 deduction. If your company paid you $10,000 for Per Diem, you would subtract that from the deducible amount, leaving $1,800 for a deduction. If your company overpaid you for Per Diem, only the amount above your deduction would be counted as income and taxable.
     
    Autocar, Mar 18, 2013
    Autocar, Mar 18, 2013
    #12
    chp56 Thanks this.
  4. Mar 18, 2013 #13
    bigdogpile

    bigdogpile Road Train Member

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    May 16, 2010
    fontana ca
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    Company pays 10,000 + 250 days out= 28,800... nice claim of $21,800 per diem tax deduction,Yea I would do that ..lol:biggrin_25511::biggrin_25511::biggrin_25511:
     
    bigdogpile, Mar 18, 2013
    bigdogpile, Mar 18, 2013
    #13
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