Per diem or non need help!

choose the straight option

 

Go find a tax professional and consult with them ... You have 6 replies here and everyone contains some degree of ignorance ... some more than others.

 

Some degree of ignorance??? On a trucker based blog site??? Surely you jest.

 

My bro in law made out like a bandit when he claimed per diem.

None of my w2's even have a per diem box or an amount listed. But i claim it on my taxes. It's a tax write off. So use it.

You can use your receipts or you can use per diem. NOBODY wants to go through 365 days worth of receipts and per diem pays more. I certainly don't spend $62 a day out on the road. To be hanging on to my receipts. And, I don't have to worry about some cop wanting to verify my receipts with my logs. Those go in the trash before i walk out the door.

 

Non per diem is the only option.

 

You certainly DON'T understand that doing itemized deduction at the end of the year benefits you more than per diem. I have an accountant and I get more $$ at the end of thr year vs per diem. Company i work for keeps pushing all company drivers to claim per diem.
Per diem - just say no to it.

 

How does somebody who rides the back of a pig naked,know this?

 

The pig is smarter than he looks.
I'm just a dumb trucker, but I pay attention to what it says, sometimes.

The per diem set up with most of the companies that pay this way is only 'good' if your ultimate goal is to pay as little taxes as possible.
(Regardless of whether it really puts more money in your pocket, but you have some notion you are screwing the IRS)

 

itemized deductions have to exceed the standard allowance we already get. I dont spend that much. I get more off perdiem.

 

I am starting at Millis in a few days. I've read a ton of threads about the per diem. Unless I'm not understanding it correctly, seems like a no-brainer to NOT take it. The pay is less. 32cpm, instead of 37. There is no pay added to your check, they just tax you on 22 of the 32cpm. Most companies that pay a per diem add that extra money onto your paycheck instead of just reducing your taxes on a lower pay rate. So, Your check might be a little bigger I guess (?), but it would be slight. For the 2016 tax year, the IRS per diem rate is $63 a day. Most OTR drivers average at least 300 days a year. That's a tax deduction of almost $19k. Why in the world would you take the per diem option? Am I missing something?