Millis OTR journal

So for those who are wondering about the whole per diem thing, even though I hate this subject, here's a snapshot of what I found in the last few days. This post is a very blunt guide, pardon the rough edges because the information pouring in is changing daily. The only reason I'm looking is because this will affect how I operate as a self employed driver in the future. I feel that the information we have so far is way too incomplete to jump the gun on anything. From what I am understanding, the per diem on the government side might be going away because the individual and married exemptions have been increased. Because of my particular situation, I'll take a little bit of a hit compared to what I would normally get. However, I will be in a situation where I will get the full "married filing jointly" deduction, so it won't hurt as bad. I say that because my wife won't have to work anymore once I get a truck. Plus I will have ways to put money back into my business and take a smaller hit. How this will affect Millis drivers and pay plans has yet to be revealed. They won't know until the government knows, and I'm quite sure that the folks in the office will hate going through this change more than the drivers. Whether you believe that or not is a matter of perspective. I've run a couple businesses, so I know first hand how much tax changes can suck. I'm as helpless as everyone else here regarding knowledge. If the IRS per diem truly does go away, that'll make the pay plan options interesting, if they continue to do a split. Only time will tell I guess. As information comes in from the IRS side, I'll continue to update that.

 

Thanks for the input, all information is both helpful and welcome.

 

Thanks for posting this link. This is pretty much the same thing I heard, just worded a little differently. Actually, it's worded in a more understandable fashion. So basically, self employed drivers are going to take a hit unless you divert funds back into your business. Honestly, I feel like that's something O/O's should be doing anyhow regardless of new tax laws. If you aren't sending money back in to the golden goose, you are essentially clipping its wings. You might skate by for a few years like that, but longevity becomes an impossibility. Busted truck = busted future. So much for the tax breaks we were promised as middle class earners. Apparently President Orange Hair considers middle class earners to have an entry pay of $150k. Since when has that ever been the threshold for middle class? Bend over and grab your ankles, we just got screwed again.

 

Once again, thank you for spending the time to post that here. Much appreciated

 

Back at ya my friend. Merry Christmas and be safe!