$52/ day deduction
 

Turbo tax does not offer me any help with this. It just asks me to enter how much to deduct. I was away from home 5 days a week for 11 months(company driver). I did not receive a per diem and I don't save receipts.

So about 225 days times $52 = $11,700. $47,500 gross minus $11,700 = $35,800 taxable income?

Can I deduct the full $52 or do I just get a percentage of the $52? Is this the formula you guys use for the daily allowance?

You get to claim 75% of that amount.

u turn
 

sorry, that's not correct.first of all, turbotax will probably tell you to change that.. it sounds like too much to me. I usually fiegure 35.00 a sleep, then multiply by the nights away.say i worked 47 weeks, 3 sleeps a week, that's 4,935.00 in un reimbursed meals away from home..add to that boots, gloves, tools, raingear, towels, ANYTHING you use in the truck is deductable..

Re: u turn
 

That isn't true. Movies and entertainment are not deductible. Neither are clothes that are not a uniform (this does not apply to gloves, or anything that can only be used with the truck). Anything you try to deduct as an expense, you had better be ready to justify it to the IRS.


Also, you can only claim the full meal deduction on days that you are out on the road. You can only claim a partial deduction for days that you leave the house, or days that you arrive home. Most accountants that I'm aware of use 3/4 of the regular deduction for those days.

When it comes to figuring how many days you can claim on the meal allowance, what I did was to go back through my log books for the year and claim count every full day I was away from home. I did this at the first of the next month for the previous month and wrote that total on the front of my log book. Made it real easy come tax time.

Anyway, I am sure I short changed myself a bit on days, but at the same time it made sure the IRS could not come back and bite me for it either.

Then once you have you total days for the year, multiply by the amount you can claim and the multiply by the percentage you can actually deduct.

So lets say I was out last year for 200 days, I would take 200x$52=10,400.
Then 10,400x.75=$7800 which would be the amount I can actually deduct.

Just a word though. If the meal allowance is pretty much all you are deducting do not waste you time. You are better off claiming the standard deduction than itemizing.

Well .. for 270 days out ..

I Filed all my per diem expenses on a 2106EZ for unreimbursed business expensies at $52 per day. Then take 50% of that against 3% of my AGI.

This worked the best because Arizona State Income Taxes work off your AGI and deductions. So I paid less State taxes too ....

Ahhhhh it is the complex tax laws that we resist going to a flat tax ....

Why is that? $7800 is s couple thousand more than the standard deduction.

Ditto...my standard deduction sure wasnt 7800

another thing some people don't know they can deduct is ATM fees that you pay. And if you are like me they add up at $2.95 everytime you use an atm at some of these truck stops... But you must save these receipts in case IRS Audits you.

Also if you have not sent your taxes yet with turbotax. You might want to check out H and R block online. I think it is the premier one. It automatically does your per diem in one of the boxes you put in the total days times the $52 a day and it automatically takes out the 25% the government or whoever that takes it away from us. :cry:

The standard deduction for US residents who are not itemizing for this year is $8450 for single and $16900 for married filing jointly.

I just looked it up on the IRS web site.