Per Diem

Discussion in 'Trucking Industry Regulations' started by Trucking in Tennessee, Jun 11, 2018.

  1. Trucking in Tennessee

    Trucking in Tennessee Road Train Member

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    I know this has been brought up, but I read some last night about it, and it seems for CDs it's going to get more popular. Instead of. 45 a mile you get .35 and the rest in tax free per diem. Your deductions have been changed too, especially for O/O. Probably need a separate thread for them to get all the rules straight.
     
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  3. Scooter Jones

    Scooter Jones Road Train Member

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    I'm an O/O, I file as an S corporation. I'm on the payroll of the S corp. The S corp pays part of my salary as per diem, it's been that way since I started it 3 years ago.

    Which deductions for O/O have been changed?
     
    bowhunter67 Thanks this.
  4. Buckeye 60

    Buckeye 60 Road Train Member

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    not sure about that 10 cents a mile with the irs but is under the old deduction .... I pay myself 58.00 per 10 hour break not taken at home as owner op
     
  5. Trucking in Tennessee

    Trucking in Tennessee Road Train Member

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    My company is paying 10 cents a mile per diem. Suits me just fine.
     
  6. Spokester

    Spokester Light Load Member

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    I've never liked pre-tax per diem, especially when the company charges a fee to process it. I much prefer to have higher income reported for credit and social security reasons, and get all my money back in a refund.
     
  7. Frank Speak

    Frank Speak Road Train Member

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    I’m rarely out over night, but I can choose whether or not I want to claim the night I’m away from home on my time sheet.
     
  8. FwL

    FwL Medium Load Member

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    My company started "encouraging" a per diem pay structure a while back, but I refuse to do it on principle alone.

    The only reason a company does this is to save millions in payroll taxes. So why do they need to pay me less per mile and charge me another 2 cents per mile on top of that as an administrative fee? Do they have to pay for extra accountants to keep track of all that money?

    Meanwhile, i'm taking home a whole $40 more per month and taking it in the shorts on lowered vacation pay, workman's comp pay, unemployment pay, and social security pay.
     
  9. Buckeye 60

    Buckeye 60 Road Train Member

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    to me when the company is saving 6% on the payroll tax and the other stuff then they charge you 2 cents a mile . that's saying something about the character of the company .... cheap ######## comes to mind. .. I thinking I would be looking elsewhere for employment
     
  10. Moving Forward

    Moving Forward Medium Load Member

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    New changes in the per diem situation for drivers, as per the recent news article (October 4, 2018) and other resources:

    “Company drivers can no longer deduct meal per diem from their income. The Taxs Cut and Jobs Act of 2017, the tax reform cleared last year by Congress, removed per diem deductions for company drivers starting for the 2018 filing year.”

    Source: https://www.overdriveonline.com/irs-bumps-up-owner-operators-per-diem-allowance/

    FMI: https://www.overdriveonline.com/tax-reform-means-annual-savings-of-2000-or-more-for-owner-operators/
     
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