Taxes Suck, But So Do Pickled Pigs Feet

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  #11  
Old 01-23-2007, 04:28 PM
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I do not see any indication on my pay stubs of money being removed from my check for per diem. Nothing listed under meals or expenses. Crackaces...when you drove for Gordon did you notice if they deducted money from your pay per diem?
 
  #12  
Old 01-23-2007, 04:54 PM
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If I recall correctly, if GTI pays you .30cpm then they probably paid you about .23cpm taxed and .07cpm that was not taxed. That is how they pay per diem, so you already got your tax break throughout the year. You probably should just claim the standard deduction if they have been paying you in this manner.
 
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  #13  
Old 01-23-2007, 09:23 PM
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Per Diem is a ripoff for the driver. Your wages are based on the actual amount you are taxed on. It does not include the per diem amount.

Your social security is based on the taxable amount. Workers compensation is based on the taxable amount.. Unemployment insurance is based on the taxable amount.

Simple example:
Let's say you drove 100,000 miles at $0.30cpm ($0.23 taxed, $0.07 per diem). At the end of the year, you made a total of $30,000. Your social security statement, however, will only show that you made $23,000 (which lowers the amount you'll receive after retirement). Also, if you're injured on the job, the payment you'll receive is based on the $23,000, not the $30,000.

I NEVER let my employer split my pay. I can do my own deductions at the end of the year.
 
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  #14  
Old 01-24-2007, 12:26 PM
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I was reffering to the IRS per diem which is for meals only around $52 per day. If you claim this on a long form you can not take the standard deduction. But .. at 270 days that is around 10K .. certainly more than the standard deduction.
 

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