Company Driver tax deductibles

Discussion in 'Trucker Taxes and Truck Financing' started by RussianBearTruckeR, Jan 26, 2019.

  1. RussianBearTruckeR

    RussianBearTruckeR Heavy Load Member

    730
    786
    Jul 9, 2018
    Jacksonville, FL
    0
    I'm curious, especially for OTR drivers:Tank truck: away from home, can employees deduct any expenses for taxes or this only applies to O/O (Own Authority or leased on to company)?

    • Mileage deduction (drive to & from work or terminal - most likely not):crybaby:
    • Meals+Lodging+Pier Diem (daily)?
    • Non-Reimbursed by employer truck expenses (truck repairs, tolls, etc...)
    • Work related clothing or other work related expenses (apps used for work - paid gps, scanners, etc..)
    Wondering if there's anything company drivers can deduct (obviously would consult CPA but you may have experience just to have an idea)?:dontknow:
     
  2. Truckers Report Jobs

    Trucking Jobs in 30 seconds

    Every month 400 people find a job with the help of TruckersReport.

  3. kemosabi49

    kemosabi49 Trucker Forum STAFF Staff Member

    9,966
    41,259
    Jan 13, 2013
    SW Arkansas
    0
    No. Not anymore. Not for company drivers. Those went away with the new tax laws.
     
    roshea, Omega1 and RussianBearTruckeR Thank this.
  4. RussianBearTruckeR

    RussianBearTruckeR Heavy Load Member

    730
    786
    Jul 9, 2018
    Jacksonville, FL
    0
    :crybaby:
     
  5. tucker

    tucker Road Train Member

    12,647
    40,420
    Jun 13, 2008
    IN
    0
    We all wanted a simpler tax system and by getting rid of our ability to itemize it does make it easier.
    Winning
     
  6. Lazer

    Lazer Road Train Member

    1,355
    2,110
    Jan 22, 2017
    0
    IIRC, the per diem is gone, not sure about M&IE.
    I would think clothing and such that is required by your employer but not furnished, would be tax deductible.
     
    RussianBearTruckeR Thanks this.
  7. jwp1

    jwp1 Light Load Member

    74
    58
    Dec 18, 2008
    greenville sc
    0
    That's really harsh on company drivers losing the per diem.
    Even worse for lease operators who do not file a schedule C.
     
    RussianBearTruckeR Thanks this.
  8. Omega1

    Omega1 Heavy Load Member

    721
    1,595
    Nov 18, 2017
    Oregon
    0
    The new tax laws are hurting me. Im a company driver..single. Personal exemption went up but not nearly as much as I am loosing by not being able to itemize and claim daily perdiem.
     
    tucker Thanks this.
  9. STexan

    STexan Road Train Member

    14,962
    29,144
    Oct 3, 2011
    Longview, TX
    0
    My understanding is the Form 2106 is now gone for TY 2018 and can no longer be used for EMPLOYEE drivers where all income is reported on employer W2(s). So that would mean NOTHING [related to non-reimbursed job-related expenses] can be itemized to reduce taxable income.

    I’m hopeful there will be enough outrage this tax season that this provision will be eliminated but will have to wait and see.
     
    Last edited: Jan 26, 2019
  10. jwp1

    jwp1 Light Load Member

    74
    58
    Dec 18, 2008
    greenville sc
    0
    More salt in the wound is that the per diem increased for 2019 for owner ops.
    Company drivers may have to think about leasing just to cash in on the deductions. Just running a normal year would wipe out about 14 or 15 thousand from your top line.

    Although you would pocket the money...if you are receiving a rebate from Obamacare...this would boost your rebate on that end as your adjusted gross income would be far lower.
     
  11. reefertank

    reefertank Light Load Member

    217
    114
    Jan 22, 2015
    Eastern Oregon
    0
    So I have to foot the bill for the phone plan that my company is asking me to upgrade to? I pay an additional $60 for an unlimited data plan to use the elog.....
     
  • Truckers Report Jobs

    Trucking Jobs in 30 seconds

    Every month 400 people find a job with the help of TruckersReport.