Sold On Leasing... No, Lease Purchase!

Topic 25014 | Page 12

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Bruce K.'s Comment
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Rainy, we do get per diem , but we can also opt out of it. I get it, I think it's $80 per day?

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

Bruce K.'s Comment
member avatar

Rainy, I forgot to add that per diem is automatic for us unless we request to opt out.

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

Truckin Along With Kearse's Comment
member avatar

Rainy, I forgot to add that per diem is automatic for us unless we request to opt out.

Is it seperate on your paystubs? like i said earlier... our starting condo says 36cpm in the rate colum, but another 8cpm is added in another section. In total, the starting rate is 44cpm. but it doesnt say that anywhere on our checks.

in order for me to know my rate, i have to mentally add 8cpm to my rate column. they have never said "heres your annual raise or based on mile raise" i just see my rate column go up which is not my actual total rate before per diem

People see the rate and think that is their rate. it isnt. it is what tuey are paid before the per diem is added.

so if given a choice... those who opt out will.have a higher rate but not ger per diem, and those with per diem would have a lower rate but the per diem added seperately.

CPM:

Cents Per Mile

Drivers are often paid by the mile and it's given in cents per mile, or cpm.

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

HOS:

Hours Of Service

HOS refers to the logbook hours of service regulations.
Rick S.'s Comment
member avatar

Rainy, we do get per diem , but we can also opt out of it. I get it, I think it's $80 per day?

$80 would be WAY OVER the actual allowable $66 per day.

Some companies have switched over to doing a "daily rate" versus a portion of CPM pay. They simply take the $66 from the gross pay column based on CPM, and pay you the balance of your mileage pay (and accessorial if any) as taxable. While there IS a tax advantage for the driver, it tends to create even less taxable income (which can be problematic as one of our members had to return a car last week, due to not qualifying for a loan based on income), there is a GREATER ONE for the company.

Rick

CPM:

Cents Per Mile

Drivers are often paid by the mile and it's given in cents per mile, or cpm.

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

Bruce K.'s Comment
member avatar

I have looked over my pay statements, but unless I'm missing it, I've never seen a CPM number on my statement. Maybe another Schneider driver can clarify that issue.

I'm not even exactly sure what my CPM is. I think I started at .39 and got a .02 raise, but I may have started at .41 which would put me at .43. Like I say, I've got too much on my plate right now to worry about it.

One note that may be of interest to Robsteeler is a tip I got from one of Schneider's experienced instructors. He drove for a long time before he switched to a training Academy job. He recommended investing in a good Day Planner book that has a full page for each day. He used the Day Planner instead of a Pumpkin Notebook. He wrote everything he would have used his Pumpkin book for in his Planner. He said it greatly aided his ability to go back and compare his pay/settlement statements with what he had done to make sure the company didn't miss any pay he had coming. He had a detailed daily summary and no confusion about what he did on what day. I haven't gotten around to doing this yet, but I intend to.

CPM:

Cents Per Mile

Drivers are often paid by the mile and it's given in cents per mile, or cpm.

PackRat's Comment
member avatar

I’ve kept detailed logs of numbers ever since I started driving. Miles, hours, hours off, fuel, DEF, oil changes, oil samples and results, filter changes, tires, rotations, trailer numbers, pay, bonuses, accessory pay, etc. to name a few.

Brett Aquila's Comment
member avatar

I highly recommend using Google Spreadsheets for keeping track of your load information. It's free, it's super fast and easy to use, it's searchable, you can use the spreadsheet to do simple calculations like totalling your mileage, and the information is stored on Google's servers so you can access it from any computer. You'll never have to worry about losing it if your computer crashes or you lose your notebook.

If you keep the information in a notebook or on a laptop and you lose it, that's it - everything gone forever.

Bruce K.'s Comment
member avatar

Brett, totally new concept to me. I'll check it out eventually but it's a great suggestion.

What will they think of next? Anti-gravity technology would be great to fix overweight issues.

Marc Lee's Comment
member avatar

I highly recommend using Google Spreadsheets for keeping track of your load information. It's free, it's super fast and easy to use, it's searchable, you can use the spreadsheet to do simple calculations like totalling your mileage, and the information is stored on Google's servers so you can access it from any computer. You'll never have to worry about losing it if your computer crashes or you lose your notebook.

If you keep the information in a notebook or on a laptop and you lose it, that's it - everything gone forever.

Sample file? Love to see what (after 15 years as a Pro) you believe should be tracked! Even just a list of columns might be helpful.

thank-you.gif

Robsteeler's Comment
member avatar

We do get per diem , and it is listed separately on the statements. I wish I had one to show you, lol. It is also listed on the adp pay statement under other. It shows your deductions and also per diem. I would show that if I could cut all the personal information, but I can’t. I’m about to crash hard anyway. Been up all night but they finished my truck now. I don’t think I can stay on the phone with tech support right now I’m not making sense to myself, lol. Good night, hopefully I can get this fixed soon.

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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