Quck question for my situation.

You can't take a per Diem twice.

 

I would definitely turn this over to a tax pro. I'm real happy with H&R. I asked and the guy doing mine knows all about per diem for truckers. I paid the extra fee bucks and they guarantee the return. Piece of mind I say! Good luck..... Floyd

 

50-60K a year income.

I'd just pay a reputable tax man, it's not very expensive.

 

OMG!

First off - avoid H&R like the plague.

Second - 300 days times $59 = $17,700. Days you came and went on are 3/4 days - did you count them too?
- You don't need receipts - we keep either paper logs (when we did them), backed up by a diary that simply records days out and back, and locations.

You can claim the difference between the 17,700 and what the company paid you in per diem. Add in "un-reimbursed employee expenses", all receipts for tools, cell phone plans, accessories . . . XM subs . . . and you'll have a decent refund. Claim "laundry" - quarter machines - $7 or so every week you were out. You don't get a receipt for it. It's the only thing we claim without a receipt - but I've heard that if it's less than $70 you don't need a receipt - but don't quote me. I like to keep everything above board.

We've used TurboTax for years. It was good enough for Timothy Geithner - right !!!

Call me stupid if you want - but we're getting $12,500 for a state and fed refund this year - all legal - two drivers and less than 270 days on the road.

Don't miss out on a decent refund!!!!

 

This is why you need a GOOD transportation tax man to look at it to find out which way is better for you,and by the way, there is no way our government will make a tax law that is as simple as $59.00x 300 days = $17,700.00. You only get 1/2 of the $59.00 on the day you leave and 1/2 on the day you return home. I'm guessing that's why they only paid you $10,000.00. My Tax guy says there are only 3 types of people in the IRS's eyes, Church's, Transportation Workers, and everybody else. I guess that is supposed to be tax humor. Itemizing is a major PIA but works well for me (mostly because my wife does most of it for me) but you have to keep paper on EVERYTHING and I mean everything, toiletries, medicine,(both script and OTC) work clothes, work boots, gloves, laundry expenses, % of cell phones and internet + mileage back and forth to get all this stuff. I even write off what the tax guy charged me last year. My advise is talk to several of the more successful O/O's in your area they will point you in the right direction as far as finding a good tax man, tell him exactly what you want to know, is it going to be worth it to itemize, I'm going to guess the answer is going to be no for this year since you did not kep any receipts, but I imagine it will make a huge difference next year if you keep ALL of your receipts.

 

Hoping i get a refund this year. And then amend my witholding to keep my money all year. Last couple years we made too much according to uncle sam.

 

There's a reasonable argument to claim the days coming and going as 100% days - but for now they count as 75% days, or 3/4 days. Just to clarify. If your tax man is doing 50%, you're missing a little bit there.

 

Yep and unless you itemize you dont get $59 a day you get 80%. Oh and then you must keep receipts if you take the whole amount. I dont spend anywhere near $59 a day so i take the 80%. Partial days are counted as 3/4 days or 75% of the 80%.