Per Diem Pay For Truck Drivers
Topic 3225 | Page 1
Here's a recent thread on the topic.
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
One company I am looking at says they pay per diem , but it isn't mandatory.
If I get on with this company, do I take per diem, or do I take the deduction at the end of the year?
Dave
It's really a matter of personal preference. In the end you'll make the same amount. If you want to bring home more each week in your paychecks and have a very small tax refund (or no refund) at the end of the year then take per diem. If you'd rather bring home less each week and get a huge tax refund at the end of the year, essentially using the tax system as a savings account, then do not take per diem.
In the end it really makes no difference. The company may charge a fee for per diem. Some do, some don't. If so, that fee would be the only difference in the amount of money you actually wind up with in the end.
Per Diem Pay For Truck Drivers
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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One company I am looking at says they pay per diem , but it isn't mandatory.
If I get on with this company, do I take per diem, or do I take the deduction at the end of the year?
Dave
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