Keep food recipts or not?

i will give you a trick i have used for years...lmao

on your log book,as was mentioned is your proof for being out on road...you follow me so far?...ok

when you are home what i do is i will show myself ''sleeping'' or ''off duty'' at my next stop...i very rear show me ''off-duty'' at my home 20.....why?

I just got 2-4 more days on the road for ''right offs''..so lets see here....''example''

2 days at home per week = 2 x 52 = 104 days i just got more ''right offs''

so 104 days x (avg)$48.00 = 4,992.00....more right off money...

This year i showed on my log book being away from home 320 x $48.00 = 15,360....(my way)

(legal way) would of been 245 days X $48.00 = 11,760

SO I JUST GAINED 3,600 IN RIGHT OFFS (NOT LOGGING AT HOME 20)..

I hope you followed this method to my madness...lol

 

My tax man this year used 43.00 a day..It goes up every year..

 

The standard deduction of $52 a day for transportation workers isn't 100% true.. You can deduct 80% of $52 a day in 2008.. without receipts.. If you spend more than that on food.. you must show receipts. I have never met anyone who ate over that every day.. So the standard deduction is usually the bestt to go with.. Your logbook is sufficient proof of days spent away from home...

Go to the IRS website and poke around to find the exact schedual and info on this if you don't belive me..

 

I did not want to cloud the issue.


But if insisting, the deduction is 52.00 per day subject to the 80% allowance under the DOT exclusion. This equates to 41.60 per day. With rounding it is 42.00 per day.

Now if you really want to get technical, it varies whether they are company driver or schedule c. At the company driver level, it is subject to 2% of the AGI which is different for each taxpayer.

It is the reason I simply referred to it as 52.00 per day.