Taking Per-Diem, Yay or Nay?

A good CPA familiar with trucker’s taxes can answer your questions. Oh wait, just stand by. There are hundreds of experts here. That’s why all these threads end in arguments.

 

If you can find a good bank that actually pays interest that extra money into a account will earn you money instead of giving a free loan to the government. Per diem is mostly taking a said amount of your pay and giving the company a tax break while you are looking like you earn less which can have some bad consequences.

 

No. It's not a true per diem. $63 of your days pay is pretax.

The argument starts over whether you want to show a higher income for loan qualifications later, whether you care or not that the company makes money too, or whether or not you Think the politicians are going to screw you out of your social security benefits (hint, they will).

Best advice, See an accountant, everybody's situation is different.

 

Why else would they be a politician, they get free money for life..so far. But that SS remark has been around for longer than me and it is still here. DO NOT DEPEND ON A GOVERNMENT to give you everything.

 

They already screwed me once when they changed the age requirements. I'm sure they'll change it again.

And so the argument begins...

 

No

 

If you are both employee drivers and both relatively young, take the employer per diem option and invest those saved tax dollars