Crete Carrier - A Year In Review - Fall 2013 Going Forward

Crete recently announced an optional per diem plan. Information is just coming out and it’s up to the individual driver to figure out if it works for their situation.

 

All it is,you get less taken out in Taxes,and get less back at end of year.Gee..01/mile,sign me up!....NOT!!

 

With the new tax structure company drivers can't claim per diem on taxes no more

 

Crete loses 20% of the deductions offering the per diem. They can only deduct 80% rather than the full 100% if they pay the wages. The not paying fed taxes and SS does not cover the 20%

 

I'm still doing the math, not sure if i'm doing it or not.

 

I know if I stay the same as last year, my tax pro said that if I made the same as last year, I would only get back around $1500 this year. As opposed to the over $5k I got last year. But taking the per diem would save me around $4k, but costs around $1250 with the. 01, plus vacation pay will be lower and profit sharing payment would be lower. Really need to get the pencil sharpened and figure it out pretty close. I'm guessing I would be a little better on it, but not sure.

 

Everyone wanted a simpler tax code and they got it.

 

But you are also having less taxes taken out of your check.

 

Agreed 100%

 

Correct. An effect of the Tax Simplification plan passed last year.