Will we lose per diem

Thanks for clarifying that about the company paid per diem.

But companies are not losing meal deductions. As an owner operator i can still deduct meal expenses oin my schedule c.

 

Maybe they got rid of the Schedule C

 

I havent found anything specific just a tax place that said company meal deductions are being seriously limited. I was looking for a better explanation but haven't found it yet

 

They did not.

 

In an article i read in one of the trucker publications it specifically stated owner operators could still deduct meals on our schedule c. Now i haven't had a chance to read the tax code for myself cause I've just been too #### busy working. Going to be making time for that next week.

 

Ya ive seen a couple places where they said we can still do it on schedule c so affects co drivers really. Ive only had a few minutes here and there to look this #### up so prob just wait and call the tax man next week while im home.

 

Man, $80 is about the most I spend on groceries in a month!! Coupled with eating out, my food bill usually comes out to $120-$130/month.
Of course it's only myself and I usually buy alot of frozen vegs, canned soup things, cereal, almond milk and brown rice. Maybe a pack of chicken every couple of weeks, but with the immense slow down at my particular job, I've got to make cuts until I could get into something less dismal.

 

Something we all need to look into is the big tax rate cut to corporations. Might actually be worth structuring as a c corp now.

 

Dude 130 bucks barely feds my family for 3 days. I can't imagine being able to get by for an entire month on that. that's just the grocery bill.. doesn't include any eating out/ordering in.

 

Ya maybe. C corps are a pain in the ### though. Been on the board of a couple and it would have to make a pretty hefty difference for me to think its worth it.