Profile For Denise (Hubby - Outlaw)

I really suggest that you find a tax company that is familiar with the trucking industry before you try to tackle it on your own. At least for the first year, since the trucking industry is one of the most tax intensive industries in business, there are so many deductions and loop holes you can miss and not realize costing you $$$$.

Also tax law in the industry is ever changing and needs to be continually monitored. I understand wanting to be able to do them yourself but realize getting some professional help the first year will give you a platform to understanding the do's and don'ts of the industry.

Thanks Brian M. The first year was a easy (after studying the laws carefully) since he did not have per diem. this year, will be my challenge.

Hey guys! I know this is an old topic on here, but this per diem thing is bugging me. I'm new to trucking industry (just married into it in 2014), so I am trying to 'understand' the game (since I'm the one doing the taxes for us).

Coming from a 'non-trucking' industry where we pay our guys 'per diem' above (or separate) from their pay. Say for example our guys would be paid $18/hr ($720 for a 40 hr work week). They receive a separate per diem check of $50/day each Monday ($250) when they are working on the road. We do not deduct the per diem from their $720. It is above and beyond. So this industry's way of reducing your 'pay' by the per diem is a joke to me and deceiving. On paper a company says 'we pay .xx/per mile and $50 per diem per day' is not true and misleading. Now that this new company hubby is at using the 'per diem' system, I will not be able to take the $59/per day he is on the road in deductions on our taxes. That deduction is beneficial (at least to us) because we are able to itemize.

So now here is my question (after my long winded bantering lol): since the 'allowable' IRS is $59/per day and we are getting "$50 per diem/per day", would we still be able to claim the $59 but show the company reimbursed us for the $50? At least we would be getting a very small itemized deductible. Does that make sense at all?