company drivers no more per diem 2018

I switched to O/O last Feb. Glad I did.

 

ummmm no. They won't hand out huge bonuses [except maybe to key office people]. They'll move to a "company payroll per diem plan" and jigger the CPM model. This will vastly boost their bottom line saving them thousands and millions each year depending on size of carrier, reduce their payroll exposure and liability, and "help drivers save on income tax"

The local drivers and the drivers who are home 2-3 days every week, really weren't hurt too bad with the new law, but it was likely an even push at best. Those who "live on the road" and sacrificed the most are the ones who got hurt the most.

 

I really doubt you’re the only company driver that is angry about the loss of the per diem deduction and I totally agree with you. This job sucks in a lot of ways and that was one of the few advantages truck drivers had to make trucking a more attractive occupation. The sad part is most drivers voted for the politicians that took away their per diem. As soon as I heard about it I accelerated our transition to becoming O/O. I suggest you explore that option.

 

Companies are now required to be the ones processing per diem. It's not gone, it's not magical money moving. It's just the same per diem as always, but pushed to the office.

 

The meal deduction is gone., it's completely different then it was before.
But it's simpler to do your taxes

 

OOIDA represents both owner ops and company drivers.
Actually OOIDA is the only voice us drivers have to defend us against the FMSCA and the ATA.
Plus all the little benefits they offer us, And all for 25 bucks a year,

 

I'm getting $2,400 back. My company pays per diem. Maybe I should say, they keep track of days in the road for me. Then they deduct that from my pay. So I don't pay taxes on that money. Then they add it back on my paycheck as reimbursement.

So I made $62,000-17,000(per diem reimbursement) $45,000 as taxable income. Then got NEW tax standard deduction. $19,000 as Head of house hold 45,000-$19,000 is now $26,0000 taxable income. Then I got $3,000 for property taxes I paid and $1,000 for mortgage interest I paid.

So I had taxable income on $22,000 I believe. I used TurboTax online. That what it said I qualify for. I don't know If the $3000 and $1000 all come off taxable income. TurboTax said I get $2,400 back. TurboTax online was $85. $40 extra because I had house and mortgage and property taxes. Then another $40 to file state taxes for me. First time I did my own taxes in like 12 years. I hope TurboTax was right. Ha ha

 

If you took the standard deduction you cannot take deductions for other things like taxes or mortgage interest. It is either/ or, not both.

 

I’m too old for that. Too close to saying “## it” to be thinking about getting married to a note and truck in a time when the future looks sorta iffy. Have you seen the democratic contender pool emerging already? May God have mercy on the USA and all small businesses owners.

Venezuela, here we come.

 

Don't drink the right wing propaganda kool aid scare tactics ( or extreme left for that matter). Government is social. America has always been a mix of socialist and capitalist policies. Schools, libraries, etc. are great socialist policies. Hardly anything extreme like some corrupt leaders in Venezuela.
On the other hand private business isn't always looking out for the good of the people. Just the good of their own profits. We need a good blend, in America, and so far it has balanced well with compromise back and forth. This last tax bill was not in the workers interest.