Living in your truck.

Good luck with your new career! Let me say that for a guy in your situation you are entering the perfect career! for one the company will love the fact that you dont have to be home! Two just keep your nose clean and you will always have a dry place to sleep. There are a lot of drivers out here that never go home. If you live right, save your money, and learn to live "cheaply" out here you can put away some good money in little to very little time! When you do wanna head home for a couple of days to catch up with friends and family you can always get a hotel. I got a cousin into trucking who was very much in your situation. Today 3 years later hes doing very well for himself. Owns a small house, has a driving job that gets him home on the weekends know. Honestly hes doing great!
So hang in there. Make some miles, save your cash, and keep your nose clean.

gator

 

Ok Great let me then say it this way
For me it works
1 reduction in gross allows me to attain EIC. my home is paid for. but for those who arent they can keep record of how much perdiem they have been paid to add to the w2s for the totals needed.
2 social security WILL it be here in 23 years when i reach the age or will the age requirements be increased by then.
3 I have short term and long term insurance.

 

Each situation is different. Not everyone sits in the same tax brackets.

Consider the disability programs. It is great to have them. You might just double check them concerning the base wage. It is only a thought.

Most people are not happy with the results. I am glad to see you are.

 

Road medic
In my home state the rates are set by the state them selfs not the wages as I understand it....However you have given my curiosity a rise and I will further investigate it.
Thanks

 

There are several threads in the trucker tax topic area. It is in the Owner Operator area and it is a sub category.

 

If you're going to live out of your truck you will need some basic items...microwave (can use TS though), cooler/refrigerator for food, coffemaker (if you like coffee). Also need to figure out your storage space and what kind of food are you going to eat.

I don't have a clue on what Werner will allow or not for an inverter but you'd better ask before assuming. A TV with DVD is always good because it can get boring waiting on a load and if nothing else the TV will put you to sleep.

Answer to your question....you can live out of the truck on the road but do yourself a favor....one every 3 to 5 weeks get a weekend and get a hotel room and enjoy life.

 

Can you claim the per diem using software such as TurboTax? Is there a place to put in x amount of days away and it does it automatically, or do I need to actually hand my logs to an accountant?

FYI, I did not get in the per diem plan the company offers so it is my understanding x amount of days away x 80% of $52 which would then be deducted from your gross giving you your AGI which you would be taxed on correct?

 

If I remember right about Turbo Tax, you take the number of days on the road times the 52.00 and put the figure in it. Then check a box that indicates subject to DOT. The program does the rest.