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Taxes Vs mileage?

Topic 17765 | Page 2

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Reaper's Comment
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Im not trying to hijack i just had a qurstion about the taxes on the same topic. Are food and tools (gloves and flashlights etc) tax deductible if living on the road in the truck year round?

Farmerbob1's Comment
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One thing to remember is that you must have a domicile in order to claim per diem. You must have someplace where you pay rent, etc. If you don't (like me) you cannot claim it. My company has no provision for this so it will cost me at the end of the year. Or it would if the alimony I pay didn't offset it. 😐

Rent a room from a family member, somewhere. Have mail delivered there.

Instant residence, and you can even pay them a little real money and not take a loss.

Per Diem:

Getting paid per diem means getting a portion of your salary paid to you without taxes taken out. It's technically classified as a meal and expense reimbursement.

Truck drivers and others who travel for a living get large tax deductions for meal expenses. The Government set up per diem pay as a way to reimburse some of the taxes you pay with each paycheck instead of making you wait until tax filing season.

Getting per diem pay means a driver will get a larger paycheck each week but a smaller tax return at tax time.

We have a ton of information on our wiki page on per diem pay

Farmerbob1's Comment
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Im not trying to hijack i just had a qurstion about the taxes on the same topic. Are food and tools (gloves and flashlights etc) tax deductible if living on the road in the truck year round?

Food and drink are what per diem is for. IF you have a legal residence somewhere other than the truck.

Non-reimbursed expenses can also be tax deductions, if they are for business, and if you itemize. Gloves and work clothing, GPS, CB, Satellite Radio, plastic utensils, coolers, microwave, anything you can make a legitimate argument for needing on the road. Cellphones are tricky, as they are commonly used for both personal and business reasons. I have two phones. One personal, one business.

That's the basics. For more details and specifics, I'l defer to others and suggest you speak with a tax professional.

Per Diem:

Getting paid per diem means getting a portion of your salary paid to you without taxes taken out. It's technically classified as a meal and expense reimbursement.

Truck drivers and others who travel for a living get large tax deductions for meal expenses. The Government set up per diem pay as a way to reimburse some of the taxes you pay with each paycheck instead of making you wait until tax filing season.

Getting per diem pay means a driver will get a larger paycheck each week but a smaller tax return at tax time.

We have a ton of information on our wiki page on per diem pay

Cwc's Comment
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Thanks Rick... it just kinda hit me that I had paid a ten dollars an hour employee a whole week plus overtime... So yeah I was a little thrown off, maybe a bit ticked off as well.

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