New Tax Law Changes Hit Truck Drivers Hard

Topic 24724 | Page 2

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PackRat's Comment
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And the standard deduction doubled. Most will not see a huge difference in a refund. Why would you want a “refund” anyway? It’s your money coming back to you that you overpaid in income tax. Set your withholding up correctly and don’t overpay. Doesn’t the Federal Government get enough of your hard-earned money without you voluntarily letting th3m borrow more of it?

G-Town's Comment
member avatar
Nobody else is buying my meals =)

Obviously.

However you are not buying/eating B,L, & D at work though. In all likelihood you only eat lunch at work. You are not currently living out of your truck or out of a suitcase in a hotel traveling for your job.

...to reiterate:

Remember the primary differentiator is living in the truck for days/weeks/months at a time vs. living at home and returning their every work day.

Can’t make it any clearer than that.

JoAnne EC's Comment
member avatar

Obviously.

However you are not buying/eating B,L, & D at work though. In all likelihood you only eat lunch at work. You are not currently living out of your truck or out of a suitcase in a hotel traveling for your job.

...to reiterate:

Remember the primary differentiator is living in the truck for days/weeks/months at a time vs. living at home and returning their every work day.

Can’t make it any clearer than that.

Yes, I fully comprehend that...

Rob D.'s Comment
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Https://www.irs.gov/taxtopics/tc511

Rob D.'s Comment
member avatar

For what its worth, search "meals" in the IRS publication linked below to see what the horse says about the deduction of meals.

www.irs.gov/pub/irs-pdf/p463.pdf

PJ's Comment
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The tax law changes did not change the deductions, they changed the forms. They did away with the 1040 form for the deductions for individuals.

JJlearner's Comment
member avatar

From a not-yet-driver: you can't deduct your meals or cell phone for other jobs either. I used my cell phone at work and have to prepare / buy meals while I'm at work. Not sure why it would be expected that you COULD deduct these?

Per diem and meal deduction

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

JoAnne EC's Comment
member avatar

Per diem and meal deduction

Thanks for posting that. That's a HUGE amount of money! Is that beneficial or does it screw you over come tax 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

Tractor Man's Comment
member avatar
Trust me I would but the women in charge (wife and daughter) had veto power lol.

I can't argue with that! Nuff Said!!!

rofl-3.gif

Robert D. (Raptor)'s Comment
member avatar

I'm with Big T, in Commiefornia you can't get per diem. But seeing I don't have his restrictions or responsibilities, I can and eventually will out of there. But first I need to put my stuff in storage and move out of my apartment. Anyone who has done this and doesn't have a residence how does the deductions work?

Raptor

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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