BFA, I guess if you can go through this thread from my initial question, and not get utterly confused by most of the responses, you might be able...
Xsetra I see what you’re getting at, my problem is as an partnership LLC, My wife and I are the company and the employees, though not paid by W2...
As a self employed driver, using a schedule C for business expenses for the last 4 years, I made quarterly payments based off of the previous year...
You are telling me you are a business owner, are you incorporated? S Corp, c Corp? Are you a single member llc? Are you a sole proprietor? These...
I was thinking the same thing from his responses. He might be a driver, but he definitely isn’t anyone with any tax knowledge and should stop...
Ridgeline, No offense, but other then telling me to consult an accountant, I don’t know why you even responded to my question if you aren’t in a...
Thanks for the response, if I may ask, do you itemize the Per Diem or take it from your income on a schedule E, line 27, unreimbursed partnership...
Ridgeline, I think we are getting mixed up on wording, from the irs website, — What Can I Deduct? To be deductible, a business expense must be...
I appreciate the answers but Per Diem is not a personal expense (see publication 535 referenced above) It should be entered on your schedule C for...
I think I may have found it, buts still waiting for my tax guy’s response. Possibly entered on schedule E, line 27, as a unreimbursed partnership...
We will not be W2 employees, but partners of the llc where all profits after expenses will be “passed thru” to our 1040, line 17, income from a...
Currently we put Per Diem on schedule C which is profit/loss from a business that is filed with our personal tax return. With the formation of the...
My wife and I are team drivers and currently report our Per Diem on schedule C’s. We are going to be buying our own truck and will setup a LLC as...
