Per Diem question.

Well I'm not knowledgeable in the subject but I did a search because I'm interested in learning. What i saw is that the per diem allowance per day is $47.2, although it might vary by state. Assuming that's what's allowed in your state then at 9cpm if you drive over 525mi the rest will end up getting taxed. I don't think it will hurt you though, I'm not aware of any penalty. The extra will simply be normal taxable income.

Hopefully someone will enlighten us on this though.

 

Most comments on per diem from those here that are well learned state it is bad for driver, good for company.

One reason I remember is that you earn less towards social security. But maybe one cent is not enough to make a big fight over...

Mikeeee

 

Well I'm 27 so social security will be gone by the time I retire. The less I can waste on a broken and corrupt system, the better.

 

I thought per diem was $57 or $59 a day

 

Anytime you can get more per diem in lieu of pay it is good. You don't pay taxes on per diem but you pay taxes on wages. I have employees that travel doing oilfield work and I pay them as much per diem as I can legally in lieu of higher hourly wages because it is tax free money for them and reduces my payroll taxes as well. It is truly a win-win.

 

I went back and looked and I guess they (ooida) was talking about doing an itemized deduction rather than per diem pay.

This page will tell you your per diem for meals and incidentals based on your location. Mine is $66. Everything after the amount it gives you is taxed as income.
http://www.gsa.gov/portal/content/104877

 

Crappy company.

Get outta there son.

They are screwin ya taking your return.

 

good info Pirate

 

Naw, it wont be gone, ever hear of the government laying off? Your kids and my Grand kids will be stuck paying all them salaries, and the " benefit" checks will probably be the same amount as they are now (not enough).