Millis Transfer training school

I can already tell you that answer. Going straight pay for this year, switching at the beginning of the year.

 

I was in the middle of editing that post, lost my Internet connection, and then lost my entire post, sorry about that. Explanation to follow.

 

OK, here is my corrected post. I am going straight pay. I have been self employed for about half of my working life. I already itemize, and was self employed until I went to school. I will be going with straight pay to finish out the year, because I already have to itemize. It's easier for me and my accountant. What you didn't see, because my internet bailed on me, was my correction. I am going straight pay. Here's the deal with per diem. I am so GD tired of reading posts from uninformed people. IF you choose per diem...yes, you get few perks. HOWEVER....there are other things to take into consideration. You'll get an extra week of vacation. Personally I don't care. You'll get a bigger safety bonus. Again, don't care. Here's what you don't know about per diem. Per diem is a tax deduction that the IRS already gives you. The current rate is $64 per day. NOW....part of that includes lodging, which you already have. So, what the IRS does is allows you to take 80% of that as a daily expense. It includes food, showers, and laundry, to simplify it. That's $50.40 a day, folks. If you incur lodging expenses, you can deduct that (hotel room when your truck is broken down and your company wasn't able to arrange it). Also, anything that you buy for your truck like CB, Navi, etc are additional deductions. It is an ABSOLUTE MYTH that you need to save receipts for daily living. The government just gives you a very easy standard deduction to make it easy on you. Since you will be filing with that deduction, yes you have to save a couple receipts but how hard is that? It'll just be things for the truck that you need, equipment-wise, and any hotel bills. If you can't manage to do that, you're lazy, period. You worker's comp benefits will go down if you choose per diem. Your SS benefits will go down. Your reported income will go down, and that will hurt you if you want to get a loan. I've been self employed for a long time guys. Trust me on this, you don't want per diem. Not trying to start an argument. Do what is best for your personal situation. I'm staying away from it.