Will we lose per diem

Very well said.

However, one thing I have learned since participating on this forum over these many years is that a LOT of truckers, even some so-called owner operators, lack basic math skills.

Oftentimes, their political leanings and source of information, skews their ability to think through a subject like this logically.

 

Here's a good example of how people's initial perception of the tax reform bill was skewed vs the reality of how they were actually going to benefit from it.

 

The payday reduction in withholding commonly known as per diem is just a reduction in withholding. It does nothing to reduce you Federal Income Tax at the end of the year. It's just a way of giving you your $63 allowance on each check instead of having to wait 'til the end of the year. You don't get one on top of the other. You just get what you get earlier or later.

 

You really should stop posting in the per diem threads.

 

It even the people that itemize still get A partial exemption or deduction.

 

That was a bit cowardly. If you have something to say then say it. What I said was correct.

 

lol, I think he's trying to say that your understanding of the tax law is incorrect and your posts could cost drivers thousands and thousands of dollars they don't owe.

Aside from your poor understanding of tax law, you also seem to confuse manners with cowardice.

 

I did this for 348 days in 2016 so I will really hate to lose that deductible expense as a company driver

 

Yeah, had like 310 days out my first 2 years OTR 2009/2010. We still had one kid at home and our additional schedule A deductions were huge.

2010 was also the year I was audited by the IRS, specifically for the large per diem deduction.

I'm still not sure the DOT deduction isn't going to be available.

 

I'm not sure either. So much BS about the matter. Why does it have to be this way? Company I work for has a team of accountants working for them and they have passed the word down last week that company drivers were no longer going to be able to itemize the 80%/$63 standard meal allowance in 2018 and beyond. But I'm still going to give it a few more weeks before deciding on moving to per diem plan or not