Tax Question While Otr?

Topic 19453 | Page 1

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Tony's Comment
member avatar

Hi everyone I'm sure this has been asked before but i am wondering if i should be keeping all of my receipts while I'm on the road? Things like food reciepts, necessitys like gloves, jackets etc... And if so does anybody know of a list of things that will be a tax write off so i know what reciepts to keep and which ones to discard? I know this is a total rookie question but i live in California and am unable to do per diem.

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

Kat's Comment
member avatar

Keep all your receipts for equipment you buy and any special clothing items like safety gear. You don't need to save food receipts because when you actually file your taxes, you will claim the per diem deduction. Be sure to keep a record of your days OTR. If you get per diem in your pay, you have to subtract that amount from the calculated per diem of $63 per day (for 2016). Any costs you incur you can write off as well. For example, every time I use a comcheck, I am charged $1. That is tax deductible and adds up. That's all I can think of at the moment.

OTR:

Over The Road

OTR driving normally means you'll be hauling freight to various customers throughout your company's hauling region. It often entails being gone from home for two to three weeks at a time.

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

MC1371's Comment
member avatar

Did I read that right?

$68 a day per diem? I've been home a total of 4 days this year.

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

MC1371's Comment
member avatar

Did I read that right?

$68 a day per diem? I've been home a total of 4 days this year.

Typo $63 So I claim 80% of 63 x 350?

Damn! That's a healthy tax return.

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

Rick S.'s Comment
member avatar

double-quotes-start.png

Did I read that right?

$68 a day per diem? I've been home a total of 4 days this year.

double-quotes-end.png

Typo $63 So I claim 80% of 63 x 350?

Damn! That's a healthy tax return.

You actually have to HAVE A HOME to claim the deduction on your return.

If you attempt to claim 350 days of Per Diem - your return will get red flagged and audited.

There are many other things you can claim as expenses, PROVIDED YOU ITEMIZE.

Rick

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

MC1371's Comment
member avatar

double-quotes-start.png

double-quotes-start.png

double-quotes-start.png

Did I read that right?

$68 a day per diem? I've been home a total of 4 days this year.

double-quotes-end.png

double-quotes-end.png

Typo $63 So I claim 80% of 63 x 350?

Damn! That's a healthy tax return.

double-quotes-end.png

You actually have to HAVE A HOME to claim the deduction on your return.

If you attempt to claim 350 days of Per Diem - your return will get red flagged and audited.

There are many other things you can claim as expenses, PROVIDED YOU ITEMIZE.

Rick

I'm looking into the details on that. Pretty sure I just need a home address. Currently have a bedroom at my brothers place.

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

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