Will we lose per diem

Really bad analogy.

Last time I checked there was no law requiring you to buy a car or a truck. There is no law requiring anyone to sell you auto insurance either, especially if you have "pre-existing conditions".

 

No, it is not a bad analogy. If I own a car, I am required by law to buy medical insurance for any bodily injury that occurs if I am in an accident. It is for medical treatment from a car injury......medical insurance!!! Medical treatment in case of an accident......sure as hell sounds like medical insurance to me!!

 

You missed the point.

Who told you you had to own a car? Who told you you were entitled to operate a car? Who told you the insurance companies have to sell you auto insurance?

Auto liability insurance isn't medical insurance. It's accident insurance. When you cause damage, bodily or other, it pays up to the limit of the policy. If you cause damages that that exceed the limits of the policy then your insurance doesn't cover it. The auto insurance company has no obligation to the injured party as a patient. Their only obligation is to cover your financial liability for the damage you caused.

 

What you all talking about hard working drivers just got screwed

 

It always has been ,,,<$25 you don't need a receipt. It is actually M&IE, not Per Diem. Pub 463

 

I think you are right. I don’t need a car to get to work. I can walk, ride a bike, or take a bus to get to work.

 

And if you chose to do that the government will not fine you for it.

 

So later today, when the senates passes the tax bill, and the indivual mandate for health insurance is rescinded, I won’t be dropping my medical insurance, but it sounds like you will.

 

Tax bill likely sunsets meal per diem for drivers, cuts rates across the board

Owner-operators will still be able to deduct meal expenses on their annual Schedule C tax form, due at the time of their annual filing, he says.

The axing of the per diem by Congress’ overhaul of the U.S. tax system, as with changes in other itemized deductions, is intended to be offset by a big bump in the standard deduction granted to all filers. That will increase to $24,000 from the previous $12,000 for married couples filing jointly.

“There is no need to itemize” the per diem deductions after the bump, says Amen, “because they’d still probably be below the standard deduction.” The standard deduction for single filers will jump from $6,300 to $12,000. What’s more, the child tax credit – an amount subtracted directly from parents’ tax bills, not their taxable income — will be doubled to $2,000 per child. However, the bill eliminates the $4,050 personal exemption afforded by current tax law.

 

"No need to itemize" because I'd been under the standard? BS. 280 days times $63 × 80% = $14,112. Even being conservative and calling it $12,000 we're getting screwed. Best case I'll end up paying the same, worst case a couple thousand more in taxes.