Hey guys wasn't sure if I should post this here or in the taxes section.
Just wanted to know if using your reward points or gift cards on purchases for food or electronics can be a deduction for taxes.
Reason I'm asking is I keep getting asked if I want a receipt for my free refill and now I'm thinking either it is there policy to ask or if people actually write that off.
Is it deductable, purchases using reward points?
Discussion in 'Trucker Taxes and Truck Financing' started by TommyTrucker88, Jan 30, 2018.
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Food and drink items receipts are not necessary if you itemize and take the standard daily meal allowance for truckers which is currently $63/day when away from home. Just have some means to backup your days away from home number you're using in the event of audit
Regarding other things that may be a deductible expense, it's okay to use points as long as the receipt shows the dollar value and tax amount at the bottom, which they normally do. -
You can deduct anything you want ... It only becomes an issue in the case of an audit.
JoelP, mtoo and jammer910Z Thank this. -
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No, you can't deduct purchases paid for with points, unless you pay income taxes on the points.
Use your points for food, and pay cash for the things not covered by a standard deduction.Brickwall Thanks this. -
Brickwall, tscottme and Broke Down 69 Thank this.
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Just to clarify standard deduction(at least for now) is $63 and under transportation worker you are entitled to use 80% instead of the standard 50%
So remember your Actual standard daily deduction = $50.40 -
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ZVar Thanks this.
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