Hello all, so I found this out from one of my drivers who came from a larger company. We all know ( I hope ) about the daily per diem savings available to drivers (50$-60$ per day, changes every year) which is considered expenses for food which you can later deduct from your taxes. What he told me, is that drivers are also allowed 3 lodging expenses to be deducted(without receipts) per week in the amount of $120 each. I personally never knew about this, my other drivers didnt know about this and I asked some other truckers, who didint know about it. Also if you are a w-2 employee, getting a big chunk taken out every settlement, you can submit a form saying you will be using these lodging expenses, and the percent taken out of your settlements will be lower. Attached is a picture of how it would work, if you have any questions, let me know and I will try to help out.
TAX SAVINGS, over 600 per week deductible from your paycheck
Discussion in 'Ask An Owner Operator' started by SFLTRKBIZ, Jul 14, 2016.
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I'm no tax expert or employee of the I R S but $360 a week in deductions for motels with no receipts sounds like a BIG RED FLAG. Like you should have a flashing light sign that reads "please audit me, please audit me" or maybe have that tattooed on your forehead.
kw600, TequilaSunrise, Hurst and 4 others Thank this. -
It looks like your using a form for businesses not a transportation per diem.You have better talk to account about no receipts for lodging never heard of not needing one for lodging.
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I did Google this what I read is if your using a meal per diem you have to have receipts for lodging
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You could get really good with a pdf editor and make some of your own receipts..... and get the double sized one if they figure it out and come collecting ..
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I dont drive so the deductions do not apply to, however this driver said his former company, told him about this, and supposedly you do not need receipts for up to 3 lodgings per week. I felt like if it is true, it could be of great help to most people here. I will do some more research to try and find out the exact answer, and I will share it.
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OK, if that makes you happy. I just never put much stock in advice from trucker-lawyer/tax/investment, or other important life decisions that came from the counter of knowledge or Internet forums lol.
spyder7723, mc8541ss and Tropsnart Thank this. -
It sounds unreasonable because they know most of us sleep in our trucks most of the time. Next thing you know you are declaring that you write off so much of your income you're down to 10 grand a year and they want to know how you are paying your rent. Your car. Everything else you have.
Just take the meal deduction it's a pretty good deal really and call it a day. Country is already so far in the hole just pay the little bit extra. -
You mean like the people on welfare do?
Lolgokiddogo Thanks this. -
You can take lodging every day of the week if you have receipts. And you can get away with no receipts for anything right up till you get audited. Not only a receipt but you better also be able to show how you paid for it.
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