New Tax Law Changes Hit Truck Drivers Hard
Topic 24724 | Page 2
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.
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...
Https://www.irs.gov/taxtopics/tc511
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
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.
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:
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
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
Trust me I would but the women in charge (wife and daughter) had veto power lol.
I can't argue with that! Nuff Said!!!
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
New Reply:
New! Check out our help videos for a better understanding of our forum features
Preview:
This topic has the following tags:
Food & Eating On The Road The Economy And Politics Truck Drivers Tax Questions Trucking News
Why Join Trucking Truth?
- The High Road Training Program
- The High Road Article Series
- The Friendliest Trucker's Forum Ever!
- Email Updates When New Articles Are Posted
Apply For Paid CDL Training Through TruckingTruth
Did you know you can fill out one quick form here on TruckingTruth and apply to several companies at once for paid CDL training? Seriously! The application only takes one minute. You will speak with recruiters today. There is no obligation whatsoever. Learn more and apply here:
TT On Facebook
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?