And then pay it PER MILE?
Lying bastards, all of them.
And then pay it PER MILE?
Lying bastards, all of them.
Umm - no - Per Diem stands for Per Day
Wanna play a couple online games that are absolutely free? These are the games I play on a very regular basis:
Battle of the West & Mobs Law
Exactly my point. BUT your company pays it per mile, not per day. It's a total screw job.Originally Posted by Malaki86
The federal government set up the per diem, which allows $52 PER DAY to be deducted for living expenses on the road. The company didn't set this up. Also, most companies don't require you to take it.
You should be complaining about the IRS, not the companies.
Wanna play a couple online games that are absolutely free? These are the games I play on a very regular basis:
Battle of the West & Mobs Law
The companies say they pay you "per diem" which they don't. They pay you a "per mile". Say it's 10 cents per mile "per diem" and you run 200 miles that day. You get $20 whereas the govt would allow you $52. It's a screwjob.
Good point Mal. Maybe this is cfm's clone or something.Originally Posted by Malaki86
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You can still claim the other $32 per day on your taxes.....how are you getting screwed?Originally Posted by farder
When a white army battles Indians and wins, itis called a great victory, but if they lose itis called a massacre.Chiksika, Shawnee
At the end of the year you figure out how many days you were out times the IRS per diem and subtract from that what your company paid you and claim the difference on your tax return. At least that's how I got it figured. 8) 8)
I'd say if you're only running 200 miles per day-- that's the real screwjobOriginally Posted by farder
At least they give you plenty of time to read & make phone calls:
Changing Lanes
Trucker Connection
RPM
LOL - nice point there!!!
Wanna play a couple online games that are absolutely free? These are the games I play on a very regular basis:
Battle of the West & Mobs Law
I think it means "For Suckers" in Latin
Personally I have never excepted a company per diem plan! Over the last few years, several companies have gotten in big trouble with the IRS for calculating it by the mile! Link to the ruling: http://www.irs.gov/pub/irs-drop/rr-06-56.pdf
When the driver goes to do their taxes, and find the company actually paid too much, the IRS disallows both types of calculation, and the driver is screwed with more taxes!
The rate for individuals that follow under Hours of Service Regulation, year 2007 was $52.00/day and the driver may claim 75% for days out overnight under the IRS rules.
Quoted from the IRS website, publication 529:http://www.irs.gov/publications/p529/ar02.html#d0e1703
"Meals when subject to “hours of service” limits. You can deduct 75% of your business-related meal expenses if you consume the meals during or incident to any period subject to the Department of Transportation's “hours of service” limits. You apply this 75% limit before you apply the 2%-of-adjusted-gross-income limit.
"I discover the principles that work and work them,
I am forever learning new principles that interaccomodate with what I already know, to the betterment of my life and my world.
As principles are revealed to me, I cheerfully record them, use them, and share them.
Principles are, without question, the fastest way to what I want."
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OOIDA
Don't feed the trolls!!!!! :twisted:
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