1099 Tax question: Expenses

Whoever said that's my "interpretation of everything that has happened over the past few years"? I'll try to get over the fact that you won't trust my reading comprehension skills.

 

A quick gander at the official IRS website shows nothing about being able to deduct %100 of meals due to the China virus , or any other countries colds or flu. If you don’t know the answer to something there is nothing wrong with staying silent.

 

I'm not gonna go back and forth with you on this. I just read yesterday that one of the covid relief bills has a provision that allows you to deduct 100% of the $69. I'm gonna try and look for it, just to make you eat crow. But I'm only gonna spend 5 minutes on this endeavor. It's not worth my time. Get off your high horse.

 

I can save you the headache. It’s for “ small business “. A 1099 employee, or most of not all truck drivers won’t qualify for it.

 

Qualify for what? The full 100% allowance you mean?

 

Okay, so I just spoke to a CPA that specializes in trucking. You CAN claim 100% of the $69. But that was a one-time deal for 2021. PEACE.

Addendum: After reviewing the IRS website, we can claim 100% of our meal expenses (up to $69) until 2023.

 

Another one post wonder and the thread coming derailed by people replying to a poster thinking he was the original poster.

 

Folks as a PSA, I am posting this for clarity. I cut this directly from Page 12 of the IRS Pub. 463. I am also posting the link to the webpage. Chapter 2 goes into it specifically. So as OTR truckers, we can deduct 100% of our meals until 2023. They have to be a necessity. They can't be "lavish or extravagant". The daily allowance is $69. This assumes that you are self-employed or an independent contractor, and not getting reimbursed by another party.

https://www.irs.gov/pub/irs-pdf/p463.pdf

"Individuals subject to “hours of service” limits. You can deduct a higher percentage of your meal expenses while traveling away from your tax home if the meals take place during or incident to any period subject to the Department of Transportation's “hours of service” limits. The percentage is 80%. Individuals subject to the Department of Transportation's “hours of service” limits include the following persons. • Certain air transportation workers (such as pilots, crew, dispatchers, mechanics, and control tower operators) who are under Federal Aviation Administration regulations. • Interstate truck operators and bus drivers who are under Department of Transportation regulations. • Certain railroad employees (such as engineers, conductors, train crews, dispatchers, and control operations personnel) who are under Federal Railroad Administration regulations. • Certain merchant mariners who are under Coast Guard regulations. 7—Food and beverages provided by a restaurant. You can deduct 100% of your meal expenses if the meals are food and beverages provided by a restaurant, and paid or incurred after December 31, 2020, and before January 1, 2023."

 

Addendum: Sorry guys. I was using the term "per diem" interchangeably with meal expense in my first posts on this thread. My bad. I should have said something like "daily meal expense" or something like that to avoid confusion.

 

Hire a CPA then. Maybe one from China that's wearing 17 masks.