Comments By Ryan R.

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  • Ryan R.
  • Joined:
  • 7 years, 2 months ago
  • Comments:
  • 114

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Posted:  7 years, 1 month ago

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A year of Per Diem pay - the results

It was more that the fact that Errol didn't account for the standard deduction on the side of not getting per diem pay confused me. It seems dishonest to me not to throw that in there when comparing pay after taxes, and then I wondered if I understood the whole situation properly since I'm well aware I am not an expert at truck driver taxes.

The fact page linked to in this thread already What Is Per Diem Pay For Truck Drivers seems to summarize it quite well.

The only issue I have a slight problem with is:

If a driver did not receive per diem pay they would do one of two things at tax time. You either save all receipts for meals and incidental expenses and deduct 80% of those at tax time. Or you would take the IRS "standard deduction" which is currently $59/day.

Correct me if I'm wrong, but it is my understanding that 1. it's currently $63/day 2. It's 80% of $63. That sentence makes it sound like you don't take 80% from the standard deduction.

Another benefit to per diem pay that I don't note it mentioning is that you can invest that money earlier instead of having it tied up until you get your tax return.

Also, can someone explain to me how a company calculates per diem pay?

Posted:  7 years, 1 month ago

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A year of Per Diem pay - the results

Anyway, if you're out 5 days a week with that standard deduction, I calculate after taxes as being $36,199.6 not using per diem pay, using your tax rate. (I think tax rate will be lower than that actually, but I'm not going to chase that down.) I might just be tremendously confused here. Someone certainly is.

Posted:  7 years, 1 month ago

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A year of Per Diem pay - the results

It appears to me that you can take $63 as a standard meal allowance IRS 2016 Publication 463

If this applies, you can claim a standard meal allowance of $63 a day ($68 for travel outside the continental United States) for travel in 2016.

I don't know. I've never had to do taxes as a truck driver yet, and while I thought I generally understood, this thread is confusing me.

Posted:  7 years, 1 month ago

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Exercise Sucks!! Kinda... not really

Joshua,

You're only sore like that if you don't bike for a long time and then do some long trip. If you stay conditioned, it's really not a problem. I know what you're talking about though, and I suspect you end up super sore even if you had padding. The trick is to start out slow, and work your way up to the longer trips.

Daniel,

Gears don't just make it easier for you to go up hills. They let you go faster on flat land, and down hills. There are simply hills one hits while going up steep terrain that no one can manage without some super low gears. On a BMX you're most definitely walking. I like some of your pictures, by the way. It's nice to see someone can go on adventures as a truck driver.

Posted:  7 years, 1 month ago

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A year of Per Diem pay - the results

Are you accounting for the standard deduction you can take off without per diem?

Posted:  7 years, 1 month ago

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This could be You, or You or Me

Except he started at 16, which isn't possible these days. Also, he totaled a truck to avoid hitting a car in front of him, which I hope isn't me. :P

Posted:  7 years, 1 month ago

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Exercise Sucks!! Kinda... not really

Daniel,

You use a bike that doesn't have gears? Also, the photos on the first page don't load for anyone.

Cwc,

50+ miles is pretty hardcore. You must be in very good shape.

Posted:  7 years, 1 month ago

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Exercise Sucks!! Kinda... not really

I never wore that stuff as a mountain bike rider. I never went 50 miles either, but I doubt you're going anywhere near that yourself. :P

Posted:  7 years, 1 month ago

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Exercise Sucks!! Kinda... not really

LOL, why do you think lycra is necessary?

Posted:  7 years, 1 month ago

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Exercise Sucks!! Kinda... not really

Nice. I've actually been pondering about how to keep from ending up fat and out of shape as a truck driver myself. I know Prime has a gym if they'd have taken me. I thought about taking some dumbells with me, but I probably don't want to add weight to the truck like that.

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