It is not wrong. It is a 100% true and accurate statement regarding taxation of earnings in an S corporation. Still waiting to hear how you...
Incorporating as a C corp means (potentially) double taxation. Incorporating as an S corp means a single level of taxation. "Quarter revenue...
Depends on how your company handles it. My drivers get per diem based on days out, not mileage. So they get per diem even on a layover. I'm...
OK, just wanted to clarify. This is pretty simple. Company says, "You got some tax-free income" when in fact, it is taxable. Company fixes the...
Are you suggesting that the driver doesn't, or shouldn't owe the additional tax?
OK, got it. In this case, the driver would owe taxes on the 368 excess untaxed compensation.
I'm not real clear about this. What would cause one to exceed the $59 threshold?
Do you really want to give up money in your paycheck now, based on what you think might happen with Social Security in the future? Seriously?
I did answer the question properly. And I will reiterate. . . If a driver takes the standard deduction, rather than itemizing (the scenario that...
It isn't a "cut in pay." You get all of your money. It is simply a reduction in what is reported for Social Security, unemployment, etc.
Standard deduction is the worst scenario for the driver without company paid per diem. Why? Because he can't deduct ANYTHING for his meals and...
And again, you're wrong. Come up with any scenario you want to try to support your position. Put numbers to it, and I will explain exactly how...
Of course. And there is NO scenario under which not having company paid per diem results in more money in a drivers pocket than having company...
This is simply incorrect. Company paid per diem will ALWAYS put more money in a drivers pocket. To claim otherwise is simply ignorance.
This is correct. Company paid per diem will result in more money in the driver's pocket. If the driver is smart, he will do what you are...
Stan, My company handles it exactly the same way. Scott
Post #85 in this thread. Second paragraph.
Not misleading at all. In my original post on the subject, I clearly admitted that reduced SS benefit, Unemployment, etc., were a downside to the...
Isn't that what I said? Reduced employment taxes?
None of it is BS. The post of mine that you quoted explains exactly what the benefit is to the drivers. It isn't only for the benefit of the...
