Millis OTR journal

I wrote a lengthy post about per diem which I will try to find and post a link to.

Per diem in the trucking industry is not used the way you described in yout post. They do not give you a stipend of money for food.

They pay you a portion of your income un taxed which reduces your taxable income up front. To receive this you are paid 5 or 6 cents per mile less on all miles. Like I said I will try to find thread my post is in and link it. Bottom line in my opinion based on lots of research and speaking with my tax person, it is not a good idea to be in the per diem pay plan.

This whole conversation may be mute in the near future depending on the details of this new tax plan that is being "Trumped ". I've heard per diem is out in the new tax plan except for owner operators and I've heard that it basically remains the same. Not sure which is correct.

 

So per diem= less taxes out of check AND less of a tax return

Straight pay= more taxes out of check with a bigger return at end of year

 

Yes that is a general way to look at it. Just remember you will be paid .36 or .37 per mile to start on per diem and .42 per mile on straight pay. You will forgo several thousand dollars per year in pay if you go the per diem route to get the up front tax cut. Or take straight pay and claim the per diem for every day away from home on your income taxes at the end of the year. My last year OTR I was able to claim approx $11,000 deduction on my tax return and did not have to give up 5 or 6 cents a mile in pay to get it.

 

Here is the link to that thread I mentioned before -

Per Diem help

 

@Steelersjunkie head is gonna explode lol. Sorry man didnt mean to re hash the per diem topic....

 

Ok heres a tip for you new guys who've never driven in snow....get yourself some kitty litter and throw in your side box....got to Streator today to drop my load and when got under the empty and tried taking off I was just spinning....well I've been telling myself for months I needed to restock on kitty litter before winter but I've procrastinated...so I decided to improvise....CORN FLAKES will also do the trick lmao. Threw some corn flakes down inder my drives and away I went hahaha

 

Tony the Tiger says "They're great!"

 

You've been a berry baaaddddd booooyyyyyyy

 

Found out Per Diem at Millis new hire is $.35 a mile and strait is .42 a mile so I went strait pay. Hope this helps you out they are pushing per deim at Millis to save the company money. But you have to do what you feel is rite in your paycheck 94coupe.