Getting per diem above my normal pay

Discussion in 'Experienced Truckers' Advice' started by HillbillyDeluxeTruck, Jan 5, 2020.

  1. HillbillyDeluxeTruck

    HillbillyDeluxeTruck Road Train Member

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    This is what I was referring to. At a previous co, I was cpm plus the fixed rate per diem. I used the per diem to cover my food expenses usually and then the rest went into the bank to cover other expenses at home, like towards rent.

    My current co treats me very well, my pay is good as a flatbedder, but as anyone else who works their butt off, Im looking for more. If I can get a fixed rate per diem and it benefits my employer tax wise, even if it doesn't benefit me tax wise, the extra income in my pocket all year will benefit my family. Im of the thinking that I would rather pay in as little as possible all year and get as little as possible back at tax time because I dont need to give the .gov a free loan.

    Im just trying to figure my best approach before I present it to the company owner.
     
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  3. Bean Jr.

    Bean Jr. Road Train Member

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    It is only 80% when you did it on your taxes too.
     
  4. slim shady

    slim shady Road Train Member

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    Your paying less in taxes, your Federal taxes, so if needed unemployment benefits will be much less same goes for if ever needed disability.
    And in the end your social security will be less
     
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  5. Muskie

    Muskie Medium Load Member

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    What you save in taxes by taking per diem will far exceed any other government reduced benefits. In fact, if you invested that excess per diem, it would far exceed SS or unemployment. Any time you can legally avoid taxes, do it.
     
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  6. supertrucker79

    supertrucker79 Light Load Member

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    Right, I almost forgot it was 80% using “real” per diem also. Last time I did real per diem, it was $55 full day. That’s the problem with the mileage per diem. If you don’t run for a day, you don’t reap the benefit. Let’s say the truck is getting repaired and takes two days, you would still get the full per diem where as with mileage, nothing. A place I worked locally paid us the cash per diem up front, would deduct from the pay and then was deducted on the w-2 end of the year. That’s the best per diem administration I’ve ever had.
     
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  7. HoneyBadger67

    HoneyBadger67 Road Train Member

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    Per diem doesn't apply anymore for W-2 employees.
     
  8. shoe128

    shoe128 Bobtail Member

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    Yes on your normal tax or as a1099. It's an over and above for the co.butyou have to watch them.as some shady ones will take it from you and then give it back if you stay out.
    As taconic transport in Pittsfield ma does. The hole family is really shady. They are part of QUALITY CARRIER
    But any how,just watch your self.
     
  9. kylefitzy

    kylefitzy Road Train Member

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    Incorect. It just has to be company administered per diem, employees can no longer itemize when filing their taxes, that’s where you would have claimed perdiem in the past.
     
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  10. HillbillyDeluxeTruck

    HillbillyDeluxeTruck Road Train Member

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    Right. So a fixed rate per diem for every 24hr period Im in the truck. This obviously adds up to a decent amount throughout the year. As a W-2 employee, I will be taxed on that amount as income. But the tax implications do not outweigh the benefits of that extra $ throughout the year for me. It will not put me in a higher tax bracket, and I have 2 dependents I claim, which greatly reduces my tax burden.
     
  11. Hazmat Cat

    Hazmat Cat Medium Load Member

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    mine is $25.
     
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