Trucker Tax Tips & Deductions

This thread was started in 2007. The perdiem listed earlier in the thread matches the year in which that post was offered.
Last year it was $59.00 (filing 2011 taxes) and has remained the same for 2012.

 

How do you keep track of days you are out on road if you have e logs?

 

Have all elogs printed out by your company before they are deleted (6 months usually) and then mailed to your home. If they are unwilling to do that then ask them to email the elogs to you directly then print them out yourself so you have a written record for your taxes.

 

For daily per diem, do we use a straight 59 dollars? Or, 80 percent of 59?

 

It is 80% of $59.00 per day. Be sure you check the box that states you are subject to HOS regs and enter the full amount (eg; spent 300 days on the road = $17700.00). The tax software will do the necessary calculations.

 

What software do you use?

 

If you are audited you will need the logs. They will not accept a spreadsheet.

 

Turbo Tax deluxe.

 

What if you're on electronic logs?