Per Diem lost..Companies need to pay up

Discussion in 'Experienced Truckers' Advice' started by smokey12, Feb 6, 2018.

  1. smokey12

    smokey12 Road Train Member

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    Ok, since it looks like company drivers will no longer be able to deduct per diem on taxes after this year..companies need to either begin giving raises or start paying per diem. Every article I have been reading lately says driver wages are expected to increase from 5 to 10% this year due to a thriving economy/not enough trucks to haul freight/ e log mandate ( also causing drivers to leave the industry). Expect companies to become more competitive when it comes to attracting drivers..we will see if this holds true..I haven't seen it yet...
     
    jraulpilot1998 and Toomanybikes Thank this.
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  3. Taipan

    Taipan Light Load Member

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    Can't force companies to pay up company drivers got screwed
     
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  4. roadranger550

    roadranger550 Light Load Member

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    Drivers have been getting screwed since before I was one, and that was a LONG time ago.
     
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  5. STexan

    STexan Road Train Member

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    I think maybe you mean to be referring to standard meal deductions?

    Regardless, I'm pretty sure you'll find that IRS rules related to allowable itemized deductions for truck drivers is not changing.

    Also, company per diem payroll plans are still allowed as they have been. Do your own homework and don't take my word for it but you'll have to read the bill closely. If read it the way I do, transportation workers subject to HOS/DOT rules and work away from home have a carve out related to allowed deductions, and nothing changes.
     
  6. Thermos Bottle

    Thermos Bottle Light Load Member

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    I did my taxes and my preparer said I will get back about $1K less next year. However, I'll make that up with more money each payday. So not much will change.
     
  7. Taipan

    Taipan Light Load Member

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    Which form do drivers use to deduct next tes per diem if what you say is true
     
  8. x1Heavy

    x1Heavy Road Train Member

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    It's a Itemized deduction. based on how many service days you can prove while away from home.

    When we did ours in 2001, we were away from home OTR 306 days that year. IRS allowed 45 dollars a daily flat rate for Per Diem and it came out to right about 13800 or so to throw against any taxes on 67000 dollars income. Since it made liability to ZERO what is left is the refund of essentially our entire extra withholding which came out to 100 for Fed each and 75 to state each both drivers weekly. The refund that year was in the 5 figures.

    You do have to keep your records 8 years to defend against a audit.
     
  9. smokey12

    smokey12 Road Train Member

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    From everything I have read the $63 a day deduction for everyday u are away from home for company drivers is going away..this also applies for traveling salesman etc. The standard deduction for married filing joint is going up to 24,000. If you are an owner op you can still take the deduction..This does not apply to this year's taxes..it does for this year..2018
     
    MrEd Thanks this.
  10. smokey12

    smokey12 Road Train Member

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  11. smokey12

    smokey12 Road Train Member

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    I hope your right bit not from what I see
     
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