Some numbers for new O/O

There is no place to itemize your per diem. The only way a W2 employee can get a tax free per diem starting in 2018 is directly thru the employer, which you wrongly suggested drivers not take in another thread. Thank you Republicans for this tax gift, NOT.

Here is a Landstar Blog outlining this.
"If you are an employee, the law makes it where all W-2 employee’s per diem and any other reimbursements must be reimbursed on your paycheck by the employer and it is non-taxable. So, keeping a record and turning in any receipts to your employer is required as you will not be able to deduct business related expenses on your tax returns. It would be advisable to keep a copy of all business expenses for yourself for tolls, motels, repairs, etc., to verify they have been reimbursed.

Better this CPA article written

"

 

If you itemize your food, it's an expense, not a per diem.

You want tax free in your own words. So does everyone else, but that's not how it works.

You want the big deduction, get a truck and get some skin in the game.

 

I had line haul guys at FedEx freight claiming per diem even though they were home every day.
I think its sucky that OTR company guys can't claim it though.
But, I still can, so, I'm pretty happy about that

 

You are giving bad advice. You can no longer itemize miscellaneous expenses which would have fallen under the miscellaneous deduction. As described in the IRS Schedule A publication for 2018.

"No miscellaneous itemized deductions allowed. You can no longer claim any miscellaneous itemized deductions, including the deduction for unreimbursed job expenses. Miscellaneous itemized deductions are those deductions that would have been subject to the 2 percent of adjusted gross income limitation. "

Of course it is better to be to be your own employer and able to take these deductions as a business on Schedule C, TAX FREE. Which is not actually tax free but correctly an expense needed for the business or job to operate before making a profit or loss.


Talk is big, by just saying don't work for some one. Which is basically a big ## to all company drivers.

I say let's throw the bums out who screwed the company truck drivers.

 

The company drivers were double dipping.

The only one benefitting was the board members of the mega's by not paying their fair share of Social Security.

A blind man could see this.

It boned the company drivers in the long term as it decreased their SS payment come retirement.

They stOle more on top of that by deducting 3 or 4 cents a mile for an accounting fee.

And the reason for that I'm sure is per diem has a cap, it's not unlimited.

It's only bad advise if the company driver is looking forward to meals of tender viddles in his old age.

 

I'll ask my guy to draw up the company driver per diem scenario before and after so everyone can see.

He's a real dummy.

He's getting real busy now, so it may be awhile, but I'll get it.

 

And all we heard about for 5 years was the mega's wanting the playing field leveled.

Well, now it is.

 

Right...Schneider used to hit us for 2 cents 'administrative fee' forced per diem for the first 6 months.
It really used to chap me. Why do you need 2 cents for 6 months when its a single keystroke?

It was just another way of screwing people out of their, already pitiful .28 a mile money.

 

Here you go Supa G. I'll show you mine. We'll all wait to see yours.

 

I agree, before 2018 and the new tax laws, it was advisable not to take the company per diem as you outline above.
But beginning 2018, now that the new tax law took away ALL options for W2 employees to take their own per diem on their individual tax return, it is advisable, with a company doing it correctly, to take the company per diem.