Keep food recipts or not?

Discussion in 'Questions From New Drivers' started by hunts2much, Feb 4, 2009.

  1. hunts2much

    hunts2much Medium Load Member

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    For tax purposes do I need to keep my food related receipts?

    I'm a newly hired company driver with Werner and (thanks to this forum) I declined the company payed per diem. From what I've gathered I only have to keep my "big ticket" receipts I will use for deductions, the food related receipts are assumed by the IRS. I've been keeping them all up til now just in case but It's a pia to do so. Would like to know if I need to continue keeping them of if I'm wasting my time?
     
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  3. rocknroll nik

    rocknroll nik High Risk Load Member

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    If I were you i would keep them. You may be amazed at how much stuff you will be able to write off on your taxes there driver. Good luck to ya with werner and be safe.
     
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  4. Waterloo

    Waterloo Medium Load Member

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    I don't, you get $50+ a day on your taxes off of your logs. Find a good accountant, as everything you do out here is a write off.

    Mike
     
  5. Native Dancer

    Native Dancer Heavy Load Member

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    Keep all reciepts except meals. They add up at the end of the year. The IRS does not assume anything. Keep your logbooks as proof you were away from home to claim your per diem deduction on your taxes. You will need an address as your home to claim it.
     
  6. Redwolf

    Redwolf Medium Load Member

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    I keep my logbooks to prove I was out, and I have a credit card that I only use for trucking purchases that I can write off, like food, stuff for the truck, etc. I don't put cigs, or movies or other stuff on it.
    It is paid off at the end of the month, and I can go back and look at my statements for the year to see how much I can write off.
    It's also a shock to actually see how much you spend a month just living on the road!
     
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  7. tinglish

    tinglish Light Load Member

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    yep, you get a standard deduction for each day you're out
     
  8. L.B.

    L.B. Third Generation Truck Driver

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    Like they said before, meal receipts are useless. You get so much per day for per diem to claim at the end of the year.

    Now I recommend claiming it at the end of the year instead of having it taken out before taxes. That way more of your income counts towards social security etc. Will help you out later in retirement.
     
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  9. Roadmedic

    Roadmedic Road Train Member

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    You can save the receipts if you want. Especially if you eat more than 52.00 per day.
     
  10. L.B.

    L.B. Third Generation Truck Driver

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    you won't be able to claim more even if you eat more.
     
  11. Roadmedic

    Roadmedic Road Train Member

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    Where is the proof of that?
     
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