Per Diem question for a company driver

per diem changed OCT 1 from $59 a day to $63 so you will need to change your numbers...... der diem from JAN 1 to SEPT 30 = $59 a day and OCT 1 to DEC 31 @ $63 per day

 

BTW, to throw a wrench in the whole discussion, if you read IRS Pub 463 (which I have done time and again preparing for tax court), there are two ways to calculate the meal deduction, one is how Mark Kling posted, which is the normal way, BUT, if you read the IRS Pub, it gives an option based on NORMAL and ACCEPTABLE BUSINESS PRACTICES. Let's say you leave Sunday at Noon and return Tuesday at Noon. The IRS will say you were gone 1.5 days (1 full day and two partial days equals 1.5 days), but, most businesses would say you were gone for 2 full days for accounting and scheduling purposes. That can make a big difference over the course of a year. As I read Pub 463, the second way is allowable and would net the employee a larger deduction.

 

Yes

 

celadon had me on a per diem as a company driver. my paychecks were around $600 a week and thats with per diem

 

^^^^^^ WOW^^^^^per diem WAS $59 a day and as of OCT 1. 2015 in now $63 per day.... the write of is 80% so 80% if $59 was 47.20 per day or $330.40 per week......

 

I just want to know what my per diem is going to equal in cash that I get back normally the fed owes me $1200 now I have about 300 days of per diem and I'm wondering how that translates into money.

 

Just to keep it simple; If your a company driver in the 15% tax bracket, you have 59$ per day X 300 days = $17,700 x 80% = $14,160 x 15% (tax bracket) = $2124 real money.

This is a very simple explanation. This forum is a good place for information, but take all tax info with a grain of salt. Read, read and read some more.

 

Thank you that is exactly what I was looking for an estimate perfect thank you