Weekly per diem for o/o?

Yes, as an owner-operator of a trucking company, you can pay yourself per diem and deduct it weekly, as in your example, rather than waiting until tax filing time, provided you follow IRS rules and maintain proper records. Here's a quick breakdown:

• Per Diem Deduction: The IRS allows truckers to claim a per diem for meals and incidental expenses while away from home overnight. For 2024 and 2025, the standard per diem rate for truckers in the continental U.S. is $69/day (as of the latest IRS guidance, per Rev. Proc. 2019-48 and updates). Your example uses $64/day, so confirm the current rate, as it may have changed.
• Weekly Deduction: You can calculate and deduct the per diem weekly from your net income before taxes, as in your example ($2,000 - $320 = $1,680 taxable). This is essentially a business expense deduction for your trucking operation, reducing your taxable income as you go.
• Recordkeeping: You must keep detailed records to justify the per diem deduction. This includes:
  • A log of days you were away from home overnight (e.g., logbooks or ELD data).
  • Documentation of the number of days claimed (e.g., 5 days in your example).
  • Receipts or proof of expenses (though the per diem method doesn't require meal receipts, keeping a record of travel dates and locations is critical).
• Key Considerations:
  • The per diem deduction is only for days you’re away from your tax home (overnight trips). Local or same-day trips don’t qualify.
  • If you’re a sole proprietor or single-member LLC, you claim per diem as a business expense on Schedule C (Form 1040).
  • If your company is a corporation or you’re an employee of your own company, the per diem may need to be handled differently (e.g., as an accountable plan reimbursement). Consult a tax professional for specifics.
  • The IRS limits per diem to 75% of the standard rate for self-employed truckers (e.g., 75% of $69 = $51.75/day in 2025). Confirm the exact percentage and rate for your tax year.
• Your Example: Taking $64/day x 5 days = $320 off your $2,000 weekly net to tax $1,680 is generally fine, as long as:
  • The $64/day aligns with the IRS per diem rate (or you adjust to the correct rate, e.g., $69/day).
  • You were away overnight for those 5 days.
  • You maintain records of the days and locations.
• Recommendation: Consult a CPA or tax professional familiar with trucking to ensure compliance with IRS rules, especially if your business structure (e.g., LLC, S-Corp) affects how per diem is handled. They can also confirm the exact per diem rate and percentage deductible for 2025.

Short Answer: Yes, you can deduct per diem weekly ($64/day x 5 = $320) from your $2,000 net, taxing only $1,680, as long as you keep detailed records of overnight trips and follow IRS per diem rules. Verify the current rate ($69/day in 2025) and consult a tax pro to confirm your setup.Disclaimer: Grok is not a financial adviser or a lawyer; please consult one. Don’t share information that can identify you.

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ATBS pulls 80$/day per diem for me for a full day away from home, the rate changed earlier this year I believe (used to be $69).

 

Years ago, as a company driver I claimed the M&I, not the per diem. At that time(evidently rules have changed), there was no wording in the IRS rules relating to ‘overnight’.
If your expected ‘tour of duty’ took you away from your ‘place of employment’ for longer than 6 hours, you were eligible to claim the M&I allowance for that work day. I did that for nearly 20 years, and never got questioned.
When the tax rules changed during President Trumps first term, the personal deductions were increased enough, it was not to my advantage to itemize ‘work related expenses’.

 

I always did 75 percent of whatever the number was for that year but added up for the entire year and deducted it in one large sum. Can be over 12k or more roughly.

 

Double check his, but my read of the tax law states that M&IE allowances for truckers are only available for drivers paid a mileage rate. We had to put a driver back on mileage from salary to be able to continue the per diem.