I get per diem regardless. About 25% of my per mile pay. I don't mind it. Anytime I can save on taxes I am up for it. You can still itemize job related expenses too.
How Per Diem works now
Discussion in 'Trucker Taxes and Truck Financing' started by Farmerbob1, Jul 31, 2018.
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Farmerbob1, TruckChicken and gentleroger Thank this.
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Wow, I had no idea the law changed on this... so I guess I'd better call my tax guy and see what he suggests.
06driver and Farmerbob1 Thank this. -
FYI: as per a new article (October 4, 2018):
“Company drivers can no longer deduct meal per diem from their income. The Taxs Cut and Jobs Act of 2017, the tax reform cleared last year by Congress, removed per diem deductions for company drivers starting for the 2018 filing year.”
Source: https://www.overdriveonline.com/irs-bumps-up-owner-operators-per-diem-allowance/
FMI: https://www.overdriveonline.com/tax-reform-means-annual-savings-of-2000-or-more-for-owner-operators/ -
Any driver that has to file a schedule c can collect per diem. Go talk to a tax proffesional.
Any driver. This statement companies drivers are not allowed is not accurate. Only if the entirety of you income comes from W-2 wages is that correct. -
Use Schedule C (Form 1040) to report income or (loss) from a business you operated or a profession you practiced as a sole proprietor
Yes, go ahead and yell and call me a fool etc etcFarmerbob1 Thanks this. -
If you drive as a company driver 300 days a year and work self employed 30 days, you can only take perdiem deductions for the 30 days you were self employed. -
25% of the miles I drove were paid in per diem this year. Company driver. Others do it too.
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