I like my Per Diem pay
#21
Originally Posted by BanditsCousin
I heard you can't get the per diem deduction when you are overnight in your homestate-
Truth or CH19?
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"In trucking, 2 wrongs don't make a right but 3 lefts do!!"
#22
Cool! I often sleep in my truck at my agency which is 30 min from my house when I have to load the next day, and I pick my labor up AT my agent.
I quit bobtailing home for 6 hrs on my own bed, rather, Walmart Futon lol
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Mud, sweat, and gears
#25
Rookie
Join Date: Feb 2007
Posts: 37
Originally Posted by Rev.Vassago
Originally Posted by mistergreen
I was on Per Diem 11 months in '06 and when it came to tax time I got more back then when I wasn't on it at all in '05.
I didn't earn enough or spend enough to itemize my deductions.
#26
Board Regular
Join Date: Dec 2006
Location: Lynden, WA
Posts: 446
This is per H&R Block Tax Cut(the ones with the green box):
The general rule is that the deduction for meals and entertainment expenses is limited to 50% of the actual cost. There are two broad exceptions to this rule. If you are a worker subject to the Department of Transportation ("DOT") hours of service limitations (pilots, truck drivers, railroad workers, etc.), you can claim a 75% deduction for your meals. This deduction will increase to 80% by the year 2008.
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#27
Board Regular
Join Date: Dec 2006
Location: Lynden, WA
Posts: 446
Originally Posted by jnk2001
This is per H&R Block Tax Cut(the ones with the green box):
The general rule is that the deduction for meals and entertainment expenses is limited to 50% of the actual cost. There are two broad exceptions to this rule. If you are a worker subject to the Department of Transportation ("DOT") hours of service limitations (pilots, truck drivers, railroad workers, etc.), you can claim a 75% deduction for your meals. This deduction will increase to 80% by the year 2008. The second broad exception includes meals and entertainment expenditures that are 100% deductible. Here are some examples: You reimburse an employee or self-employed taxpayer for meals and/or entertainment expenses after an adequate accounting has been made to you. The cost of the meal and/or entertainment you provide is treated as taxable compensation to the recipient.
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It's fun living in the gray areas of a black and white world!
#28
Originally Posted by jnk2001
This is per H&R Block Tax Cut(the ones with the green box):
The general rule is that the deduction for meals and entertainment expenses is limited to 50% of the actual cost. There are two broad exceptions to this rule. If you are a worker subject to the Department of Transportation ("DOT") hours of service limitations (pilots, truck drivers, railroad workers, etc.), you can claim a 75% deduction for your meals. This deduction will increase to 80% by the year 2008. Don't rain on their parade - they think they get the whole $52. :lol:
#29
Board Regular
Join Date: Dec 2006
Location: Lynden, WA
Posts: 446
Originally Posted by Rev.Vassago
Originally Posted by jnk2001
This is per H&R Block Tax Cut(the ones with the green box):
The general rule is that the deduction for meals and entertainment expenses is limited to 50% of the actual cost. There are two broad exceptions to this rule. If you are a worker subject to the Department of Transportation ("DOT") hours of service limitations (pilots, truck drivers, railroad workers, etc.), you can claim a 75% deduction for your meals. This deduction will increase to 80% by the year 2008. Don't rain on their parade - they think they get the whole $52. :lol:
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It's fun living in the gray areas of a black and white world!
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