Per Diem , Dont fall for the scam

If he really wanted to do good, the op's video, he would be going after Congress (Republican led) in the recent tax law changes that screwed company drivers out of this personal deduction. I feel so much better off. NOT

 

300 on food? a week? whew. But I digress.

 

It actually was very good. They eliminated non-reimbursed employee expenses, but doubled the individual exemptions. For greater than 99.9% of professions, that is a HUGE win! It just happens that for us drivers, because we claim a large amount through this deduction that we don't like. Guess what, there will never ever ever be a tax law that will satisfy everybody.

 

And then, to add additional injury, some companies want to charge the driver 1-2 cents per mile to pay you the per diem. They call it admin fee. The computer payroll program does all the figuring, so how hard is that to figure out.

 

You get to keep more money each check... Do you not realize this?

 

Do you not realize that we, as company drivers, are at the mercy of the companies per diem policy? Because we can no longer take a per diem (often more than what's offered by the company) on our taxes at the end of the year? Thus making our take home annually, less.

 

Fine, they lost my vote!!!

 

So, is it a scam or not?

 

Video is completely incorrect. Since the new Trump tax law came into effect, it's mathematically better (as a company driver) to take the per diem even with the company's reduction in pay. Owner operators and lease operators are likely still better taking the old method of per diem, but that will heavily depend on their miles, spouse's/household income (and thus tax bracket), their business entity type, the amount taken by the company they operate for, and more.

 

I lost my per diem deduction, made 5k more and still paid 1k less in taxes.