Per Diem , Dont fall for the scam

Discussion in 'Experienced Truckers' Advice' started by smokey12, Jul 4, 2019.

  1. Muskie

    Muskie Medium Load Member

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    And you win the bigger prize. Per diem is no longer allowed on Schedule A.
     
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  3. Scooter Jones

    Scooter Jones Road Train Member

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    I know that. I'm referring to the previous rules BEFORE the tax law changed.
     
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  4. Muskie

    Muskie Medium Load Member

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    As I'm sure Madmoneymike5 was also well aware of.
     
  5. Muskie

    Muskie Medium Load Member

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    Your comparing Apples to Oranges. Your tax bracket rates or something else in your taxes may have changed. But your per diem exemption was cut, dramatically via Schedule A (no longer exist). Whereby you must rely on the company policy.
     
  6. Scooter Jones

    Scooter Jones Road Train Member

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    But you implied kylefitzy got screwed because under the old rules he could of taken per diem and standard deduction, which you couldn't do. It was either or.
     
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  7. Muskie

    Muskie Medium Load Member

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    That is not what I said. Reread my post. I subtracted the standard deduction from his potential itemized per diem. Let alone any other itemized deductions that would now make sense.
     
  8. Scooter Jones

    Scooter Jones Road Train Member

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    Guy says, hey, I made the same amount of money last year and paid less taxes and accounting costs under the new tax structure.

    Another guy says, you got screwed! LOL
     
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  9. Jesus Christ got to get your boots on before you go wallowing in to this post.. lot of comments from the peanut gallery short timeframe
    too many chiefs not enough Indians
     
    Last edited: Jul 6, 2019
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  10. Muskie

    Muskie Medium Load Member

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    If he would have taken the schedule A per diem in 2017, instead of company. His taxes would have been less in 2017 over 2018. Barring other differences between the years. But because he took the company per diem both those years, the tax rate reduction did lower his taxes. Not because of per diem. In fact, his example is useless in discussion of per diem in this thread and it's changed effects on our taxes.
     
  11. madmoneymike5

    madmoneymike5 Medium Load Member

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    That's that I thought, which would mean, and I'm sorry to throw you under the bus Muskie, Muskie is wrong. You can't (couldn't) have both! Or else, I'm misunderstanding what Muskie is trying to say, and in which case, I apologize again.
     
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