New trucker could use some help !

Discussion in 'Trucker Taxes and Truck Financing' started by Hockeygoalie101, Jan 26, 2018.

  1. Hockeygoalie101

    Hockeygoalie101 Bobtail Member

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    Oct 20, 2017
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    So I’ve opted into my company paid per diem last year. So can I still take the standard deduction when I file in a few weeks ?
     
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  3. CrappieJunkie

    CrappieJunkie Wishin' I was fishin'

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    In a van down by the River.
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    Who does your taxes? If no one, I would pay someone to do them, you will be a lot better off.
     
    Puppage Thanks this.
  4. jammer910Z

    jammer910Z Road Train Member

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    It really all depends.
    There are TONS of factors in play.
    1) Are you married?
    2)Dependents?
    3) How many days were you ON THE ROAD away from home , and can prove it ?
    4) Do you own your home and have mortgage interest?
    5) Do you have other deductions that you can apply? Such as medical, personal property taxes, other unreimbursed employee expenses like clothing, boots, etc.

    It all adds up, and it quickly totals way more than the measly standard deduction.
    The govt HOPES you'll take the easy road and let it go bc it saves them a ton.
    Companies pay per diem in different levels, also. If they didn't pay you the equivalent of $63 for each day you were gone, you still have money coming to you.

    I'm gone almost 300 nights a year and that's nearly $19,000 × .80 = $15,200 right off the top before anything else.
    (Subtract what you were paid per diem from your figures from THAT # if your days were 300)

    Get all of your documents above ready. THAT'S MONEY.

    Don't let Liberty Tax, or H&R Block do your return.
    They don't know crap about trucking and will tell you you can't deduct per diem.
    Find someone that KNOWS trucks.
     
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