Schneider per diem

I found out recently that Sherwin Williams does mandatory per diem. Thought they were better than that. smh

 

What makes it even more not worth it at schneider is that they take 2 cents off per mile for every mile driven for per diem. I opted out of it when I started, but if I hadn't that would mean that they charged me...

Math time

I drove just over 135k miles last year. Let's say with hhmg I was paid for 5% less than that (very likely more than 5% but for sake of easier math, whatever). So paid for 128250 miles. If I was on schneider per diem, they would have paid me 2c less for all of that. So $2565 for the year.

That's over $2500 for what? Tax preparation fee? Ridiculous and I have no idea why anyone would ever do it

 

This is how they did it in 2010, so evidently things haven't changed.

And you mentioned the mover's guide. Oh god, don't even get me started. Haha

 

Okay. I...thought this was the case, and thanks for taking a look and confirming. I'd hate to talk out my rear on something I haven't had experience with lately.

 

To ALL company drivers. Just heard the other day, from a well known CPA, that beginning this year, if your company offers per diem and you elect not to take it, you will not be able to deduct it at the end of the year. The IRS is clamping down on reimbursable expenses. If your company will reimburse an employee expense and you don't take it, you can't claim it at the end of the year. Just a heads up. Consult your tax professional.

 

I think this different. This is essentially... pre-emptive per diem. They're not even reimbursing their employees, they're doing an exchange. And taking two cents off the top for your trouble.

 

I'm going to look into this. It makes no sense to me.

 

The other part of that is, the company must have an IRS qualified plan in order to do it. Consult your tax professional.

 

Good! Hope all company drivers look into it. You need to get with your company and get a list of all reimbursable expenses. Anything on the list, get reimbursed, anything not on the list you can claim.

 

Emailed my accountant. He should get back to me in a day or so.