Interesting per diem question

It is possible, but I don't really know for sure.

Personally, if they pushed the issue, I would tell them, I need to talk to an attorney to verify the legality, but that is only what I would do.

 

Thanks Roadmedic for your input on this thread. Priceless!!!
In short I need your advice- I'm 51, married, Combine Salary"07". est105K. ("08" @50%, lost job). Filed stnd deduction for the past 4years. (Min mort Int), my youngest boy turning 18 in 11/2008. Received Unemp frm Ill for 31 wkks of 2008, no taxes deducted, saved 25% of check for tax puposes.
New Career, new job - Co.Driver,otr, alot to learn, having fun!!!
Questions: Will I accumulate enough deductable expenses a year to itemize my tax return without a mort int deduction. Also it sounds that going perdiem is not a good idea under any circumstance. You think not going perdiem for me is best. And also it seems I should being paying for this advise. Thanks again for your expertise-

 

The easiest thing to do for your situation is to just do a 2007 return with the figures you have and then put in the projected per diem. It will give you a close estimate of what you may face.

Also consider that you will be buying bedding, coolers, showers, gloves, radio, and other things to be considered as well.

 

To RoadMedic, Don't know if the answer is appropriate to mention on this sight. Here is the Question; Could you recommend a Tax cunsultant in N/W IN. that specializes in the trucker arena?

 

No, I am unable to make recommendations.

However, I can suggest that you find an accountant, who is a cpa or enrolled agent to practice before IRS. Then, I would suggest finding out how familiar they are with the trucking industry.

Consider this, the program Turbotax is used by alot of truckers. I am not suggesting you do this, but it is an option.

 

Thanks - I'm familiar w/turbotax. I will ask around about a recommendation for acct,CPA person just for an option.