Tax bomb ?

Discussion in 'Trucker Taxes and Truck Financing' started by Blackfly, Apr 14, 2018.

  1. STexan

    STexan Road Train Member

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    There's a huge difference between an owner operator (or lease driver) and a "driver contractor". The two should never be lumped together in any conversation.
     
    brian991219 Thanks this.
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  3. Jazz1

    Jazz1 Road Train Member

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    This should help attract more folks to the industry.
     
  4. STexan

    STexan Road Train Member

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    Longview, TX
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    No worries. The people in the training schools and the carrier recruiters will tell them carrier's CPM per diem plans are the best thing since sliced bread, and most will believe it.

    They will never miss what they never had.
     
  5. Blackfly

    Blackfly Bobtail Member

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    Yes - they mentioned that - and printed out a "tax cuts and jobs act impact estimator " sheet which shows me owing an ADDITIONAL $ 3,000.00 for next year on my South of 50,000 income. How else would they pay for huge tax cuts for the wealthy ?
     
  6. Blackfly

    Blackfly Bobtail Member

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    Agree
     
  7. BrianHoff

    BrianHoff Bobtail Member

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    I called IRS hotline on the company driver per diem question. After about 15min trying to ensure he understood the question, I was put on hold for 5min then was told and I quote "That question is beyond our scope of questions we can answer" he then refured me to the IRS.gov website. But wait it gets better! He then said while I was on hold, he looked thru the IRS.gov and are you ready... "I couldn't find an answer for you ".
    So my question is, can anyone quote the chapter and section that specifically takes away the per diem for company personal?
     
    Last edited: Apr 15, 2018
    Reason for edit: Bad english
  8. Dave_in_AZ

    Dave_in_AZ Road Train Member

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    That's why you go to a real CPA and spend a few bucks.
    When he signs the return, it's his ### too.
     
    Jazz1 Thanks this.
  9. kathyegan

    kathyegan Bobtail Member

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    The IRS offered early retirement and more employees took it than they planned. So they had to hire but these new hires aren't well-versed in tax law. Also there has been a 3 year freeze on wages and new hires. Not a great place to find answers.
     
  10. taodnt

    taodnt Light Load Member

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    I am a fan on the FairTax though I know in the current environment in Washington it will never see the light of day. Who needs IRS employees?
     
    Mattflat362 Thanks this.
  11. BrianHoff

    BrianHoff Bobtail Member

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    Last edited: Apr 15, 2018
    Reason for edit: More info?
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