New tax laws?

Why are you switching to company driving?

 

Company drivers are losing the $63 per diem. Your standard deduction will be higher and your tax rate will be lower. Beyond this it's impossible to know if you'll be paying more or less in taxes without crunching actual numbers. You are an O/O? So you have an accountant?

 

It'll be interesting to see if anyone that files late can still claim the per diem on years it was allowed.

Yep. I"m one of those thanks to a cpa who didn't do his job and lost all my stuff. Had to hire a tax attorney. Now i wait for an appointment to get em done from 5 years ago.

 

The profanity filter catches many of my common words, I do not make a specific attempt to write in a another way to bypass the filters. That's a no no.

With that said, your standard deduction will be doubled for 2018 taxes, per diem goes away. If you think youre benefiting from your company paying per diem, recall that your social security benefits will be lower because your realized pay rate is also lower. For example. You company man paid .30 total. company pays .05 in food money to you. Your actual pay will be recorded as .25 for social security purposes when you file for disability or for social security at 62. Your monthly benefits will not be as high as they might otherwise be when they add up your productivity in wages paid to you.

Im pretty bad with language in the old way, but many younger online people in gaming make a effort to bypass filters in place writing a different way and to me that's a disrespectful action to everyone.

Anyway, there is one more thought for you to consider.

Blaming any particular President is a display of not understanding our system of Government. The Tax Changes first are introduced and sponsored to the appropriate House Committee which debates, votes. If passed, it goes to the House Leadership for introduction to the floor in Congress to have 435 some odd people (Delegates from all of our states plus several non voting ones) to debate within a structured amount of time and any amendments, changes or motions addressed one by one and then a final vote for passage is started. When roughly 218 people agree out of 435, the Bill is passed and sent to the Senate.

The Senate Leadership takes up the House Bill, opens for debate with the usual amendments, changes or what have you and the 100 Senators will have a final vote on the bill provided that all the attached is agreed to, changes inserted or even filibustered etc if 51 Senators agree in most cases it's passed.

Should the Bill have changes inserted by the Senate, it goes to a JOINT HOUSE and SENATE Committee which then resolves the differences between both Chambers. Then reintroduces the bill for final passage in the House first then to the Senate second.

Once all of that is completed with the final final final version passed by both Chambers it then goes to the President to either Veto, Sign or Do nothing within a very small amount of time in our Consitution. Should the President sign, then it becomes Law. Should the president do nothing, it will become law when the fixed amount of time expires. Should the President VETO the bill, it is sent back to the Congress for a attempt at what is called a Override vote. That requires a 2/3 majority of the total House to complete a override sucessfully. IF successful it becomes Law regardless of the President's Veto.

Now....

Should a Law be passed either a simple majority or a what is called a super majority, which means 2/3 in the house and 60+ in the senate, and it is a bad law opposed by many The Supreme Court may be brought to action against this law as a form of what is called Checks and Balances. Sometimes the SCOTUS will tear it up and toss it as unconsitutional or Toss it as a overstep of the President's vested authorities, or a overstep of that of Congress.

As a final absolute safegaurd, 32 of our 50 states have the option to execute what is called a Consitutional Supermajority on a Law, repeal a bad law or introduce a consitutional amendment. All 32 statehouses individually must say AYE and each governor must sign into assent when the process among 32 states are complete, it is taken to the DC Government at the Federal Level and the US Consitution is written with a new Amendment and the President signs.

This is a short version of our Government and what it takes to change the Tax Law so to speak. Blaming the President shows a lack of basic understanding. You should also blame the majorities who voted for this law in our Capitol Building. This includes a few hundred people besides the President as well.

I hate to be difficult but we have a President and a system in place to ensure we are not ruled by a single King under a Monarchy System against which we successfully overthrew back in the 1700's

Imagine for a moment we are still part of the Crown. Your blame against the King or Monarch responsible for the tax increase will incur a action which will probably deprive you of your freedoms. And begin a process by which you are prosecuted possibly.

I understand that tax law is cumbersome, difficult and in some cases excessive. It is our duty as American Citizens to pay what we have to pay and not one penny more. If you are working as a 1099, you are paying on everything because you are a business. If you are working as a company driver under a W2 soon, you will have to have a tax attorney in 2018 filing to be sure that you paid all that is required of you during the time you worked as a 1099 part of this year and under w2 the rest of the year.

All I can tell you is good luck to you. And then I will pray for a peace to come into your heart so you don't feel the need to swear so badly as to incur the wrath of our Moderators who would probably prefer to be doing nice things for people.

 

The biggest factor will be the number of dependents you have. They eliminated the dependent credit which if you have several kids could easily outweigh the higher standard deduction and leave you with a lower return next year.

 

The company hes going to pays per diem with no fee. They give you 33% of your mileage pay tax free. I don’t ever plan on trying to collect social security or unemployment disability etc, so it’s irreleve to me. Also, the standard deduction was dramatically increased. I claimed it last year because it was more than the per diem and that would have been almost 20k for me. A company driver doesn’t NEED the per diem deduction unless they are like top tier at Walmart and about to be forced into retirement.

 

I standard deduction goes up to what, 10G? This past year it was 6 or 8?

Per diem is worth close to 15G for some people.