They don't want to do that if they think they can get away with converting some portion of your cpm pay to non-taxed per diem which is crap IMO
It's a no-win situation for the hard core OTR drivers and for many other OTR drivers, this new tax plan will be a wash, at best.
But the carriers will love it. Especially the ones that can move a lot of drivers to a twisted Per Diem plan.
Loss of perdiem next year
Discussion in 'Trucker Taxes and Truck Financing' started by tcwestby, Feb 4, 2018.
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When I worked construction, I was paid per diem. Get that? I was PAID per diem. Extra pay. Non taxed. On top of, and separate from my hourly pay. Nobody should accept anything less. -
I was told the same information by my CPA. I itemized all receipts from prior year and was informed the new tax plan was doing away with that for 2018. That's part of the reason I'm becoming an O/O and no longer a company driver. As an O/O almost everything is deductible as a business expense.
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Seems everyone is coming around to realize per diem is gone.Now what??
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If you're a Republicrat, you're part of the problem. -
One flat pay, one flat tax.
Don't let anyone fool you; that's a true democracy... not the big commie threat that's been shoved down our throats for the past 70 years. -
tucker Thanks this.
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As I understand it the standard deduction has gone up enough that it won't affect me. I had around $20,000 in itemized deductions for my wife and myself this year including my mortgage interest and per diem. As I understand it the standard deduction will be around $24,0000 for my wife and myself. Sounds like a wash for me.
Dave_in_AZ Thanks this. -
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