Per diem write off

Discussion in 'Ask An Owner Operator' started by D.Tibbitt, Jul 4, 2020.

  1. D.Tibbitt

    D.Tibbitt Road Train Member

    8,256
    38,963
    Apr 26, 2013
    0
    How do u guys go about writing off the per diem rate on ur taxes ? OOIDA says the rate is 80% of 66 dollars a day . And this is everyday u spend away from "home" correct ? Am i supposed to be recording how many days i have spent away from home?
     
  2. Truckers Report Jobs

    Trucking Jobs in 30 seconds

    Every month 400 people find a job with the help of TruckersReport.

  3. Rideandrepair

    Rideandrepair Road Train Member

    7,135
    11,649
    Aug 8, 2015
    0
    I always keep the logs as a record. With eld, I don’t know what everyone does. I’m sure they print something for it.
     
    D.Tibbitt Thanks this.
  4. 062

    062 Road Train Member

    3,410
    6,219
    Oct 20, 2013
    0
    I run paper logs so it’s easy for me, but you need proof of what you’re claiming in case of audit. @Scooter Jones @Midwest Trucker may have some ideas.
     
    D.Tibbitt and Rideandrepair Thank this.
  5. Scooter Jones

    Scooter Jones Road Train Member

    8,713
    17,239
    Apr 19, 2011
    0
    Use the online calendar in Outlook or Google Drive. Just mark the days out on the monthly calendar. Just make sure it corresponds to your logs.
     
    Rideandrepair, 062 and D.Tibbitt Thank this.
  6. D.Tibbitt

    D.Tibbitt Road Train Member

    8,256
    38,963
    Apr 26, 2013
    0
    That a great idea . I will do that going forward from now
     
  7. Farmerbob1

    Farmerbob1 Road Train Member

    3,105
    4,391
    Jan 17, 2017
    0
    I don't use paper logs, but I do keep load books with assign date, pick date, and delivery date, along with all sorts of other data on every single load I move, including trailer shags and home time notes.

    Makes documenting hometime, and nearly anything else, trivial if I have access to my storage unit where records are stored.
     
    86scotty and D.Tibbitt Thank this.
  8. fishonron

    fishonron Light Load Member

    264
    591
    Jul 25, 2017
    North Central Kansas
    0
    Just looking at my credit card statements tells me when and how long I've been home or anywhere else.
     
    Bigwin123 and D.Tibbitt Thank this.
  9. dunchues

    dunchues Medium Load Member

    382
    546
    Mar 23, 2012
    new brunswick
    0
    The only time you need hard proof is if you get an audit, and anyone who has had one knows how trusting the revenue are.

    I keep a record on paper for my end of year numbers and download the monthly elog report to a usb stick. That's fine unless you get audited, in which case you'd need to print them all off . They wont accept usb sticks or pdf files as they dont trust them not to have viruses in them ( probably sensibly. I had an audit once and it made me want to do a lot more than infect computers)
     
    Bigwin123, Farmerbob1 and D.Tibbitt Thank this.
  10. kemosabi49

    kemosabi49 Trucker Forum STAFF Staff Member

    5,492
    15,571
    Jan 13, 2013
    SW Arkansas
    0
    I think the IRS allows that 805 of $66 a day for full days and 75% of that for days you leave or come back home. Best way is to keep log copies electronically so you can print them off if needed. For guys that live in the truck you need to have a legal, physical address. If you don't the IRS can disallow your meals deductions in an audit.
     
    D.Tibbitt and Farmerbob1 Thank this.
  11. 86scotty

    86scotty Road Train Member

    1,655
    3,476
    Aug 27, 2017
    Appalachia
    0
    I just add up the days I ran and tell my tax guy that number. It's supposed to be 24 hour periods but that's freakin' impossible. I'll worry about that and a whole lot else if I ever get audited.

    To be clear, I don't inflate it or make things up, I just add up the days I ran.
     
  • Truckers Report Jobs

    Trucking Jobs in 30 seconds

    Every month 400 people find a job with the help of TruckersReport.

  • Draft saved Draft deleted