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Per Diem deductions?

Discussion in 'Trucker Taxes and Truck Financing' started by Frank Speak, Sep 11, 2017.

  1. Sep 11, 2017 #1
    Frank Speak

    Frank Speak Road Train Member

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    My company doesn't take out for per diem so I'm doing a spreadsheet to keep up with it. Just to be clear, I can take 80% of $63.00 without receipts on days from home or terminal and 75% on partial days?
     
    Frank Speak, Sep 11, 2017
    Frank Speak, Sep 11, 2017
    #1
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  3. Sep 12, 2017 #2
    dptrucker

    dptrucker Road Train Member

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    Talk to a tax accountant that is knowledgeable with per diem. I would think you need some kind of proof on what days you were dispatched. I don't know anyrhing about per diem numbers
     
    dptrucker, Sep 12, 2017
    dptrucker, Sep 12, 2017
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  4. Sep 12, 2017 #3
    White Dog

    White Dog Road Train Member

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    That would be your logbook. On eLogs, your company is SUPPOSED to be able to print them out...but I always carried a vehicle inspection log, and in the "remarks" section, put where I went to bed that night.

    As far as @Frank Speak goes....an accountant will cost you about $150---a GREAT investment AND tax deductible on your next return.
     
    White Dog, Sep 12, 2017
    White Dog, Sep 12, 2017
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  5. Sep 12, 2017 #4
    Mark Kling

    Mark Kling Technology Contributor

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    Jan 1-Sept 31 and Oct 1-Dec 31 are sometimes two different rates. 2017 is

    $63 for US and $68 while in Canada.

    I already build a spreadsheet for this.

    full days out = $63 * 80%
    Partial days out = ($63 * 80%) * 75%

    It is actually M&IE...

    Pub 463 covers this.

    Google Pub 463 for xxxx year
     
    Mark Kling, Sep 12, 2017
    Mark Kling, Sep 12, 2017
    #4
    Frank Speak Thanks this.
  7. Sep 12, 2017 #5
    Mark Kling

    Mark Kling Technology Contributor

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    Mark Kling, Sep 12, 2017
    Mark Kling, Sep 12, 2017
    #5
  8. Sep 13, 2017 #6
    Ubu

    Ubu Road Train Member

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    As Mark pointed out, it is 75% of the 80% of $63 for partial days away (the days you leave home or arrive back home).

    80% of $63 for the full days you are away from home.
     
    Ubu, Sep 13, 2017
    Ubu, Sep 13, 2017
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    Frank Speak Thanks this.
  9. Sep 13, 2017 #7
    Frank Speak

    Frank Speak Road Train Member

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    Yes, that's what I thought, as indicated in my OP. I just wanted to double check in here as I too put together a spreadsheet. And, too, I use a CPA at tax time. I just didn't want to bug him over helping me build my spreadsheet. :)
     
    Frank Speak, Sep 13, 2017
    Frank Speak, Sep 13, 2017
    #7
  10. Sep 13, 2017 #8
    tucker

    tucker Road Train Member

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    I just tell my tax man (in their worksheet) how many full and partial days I was away from home.
    And I download a copy of my logs and keep them for proof,
    No need for a spreadsheet
     
    tucker, Sep 13, 2017
    tucker, Sep 13, 2017
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    Frank Speak Thanks this.
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