Per Diem
Topic 21698 | Page 1
Are you otr?
OTR:
Over The Road
OTR driving normally means you'll be hauling freight to various customers throughout your company's hauling region. It often entails being gone from home for two to three weeks at a time.
Are you otr?
Yes
OTR:
Over The Road
OTR driving normally means you'll be hauling freight to various customers throughout your company's hauling region. It often entails being gone from home for two to three weeks at a time.
Also, are you a company driver or leasing?
Often your company does all the book work and calculating. The amount listed as per diem on your paycheck is not taxed.
Per Diem:
Getting paid per diem means getting a portion of your salary paid to you without taxes taken out. It's technically classified as a meal and expense reimbursement.
Truck drivers and others who travel for a living get large tax deductions for meal expenses. The Government set up per diem pay as a way to reimburse some of the taxes you pay with each paycheck instead of making you wait until tax filing season.
Getting per diem pay means a driver will get a larger paycheck each week but a smaller tax return at tax time.
We have a ton of information on our wiki page on per diem pay
Also, are you a company driver or leasing?
Often your company does all the book work and calculating. The amount listed as per diem on your paycheck is not taxed.
Errol, do we then get a 1099 at year end to pay the taxes owed?
Per Diem:
Getting paid per diem means getting a portion of your salary paid to you without taxes taken out. It's technically classified as a meal and expense reimbursement.
Truck drivers and others who travel for a living get large tax deductions for meal expenses. The Government set up per diem pay as a way to reimburse some of the taxes you pay with each paycheck instead of making you wait until tax filing season.
Getting per diem pay means a driver will get a larger paycheck each week but a smaller tax return at tax time.
We have a ton of information on our wiki page on per diem pay
I described the situation for a company driver - an employee. There's no 1099 for an employee's per diem , only your W2, and that doesn't have a place (or need to) for per diem.
P.D. is a calculation you make based on your expense records (employee and owners). But if you (employee) take advantage of the company's per diem hold-out you don't need to do anything, not even figure your own deductions for that.
For more details, search "per diem" discussions on the forum. There's quite a debate on it.
Also murderspolywog's question about OTR is because officially you only get per diem on days you are not at home the whole day. If you are home at either the start or end of a trip you aren't entitled to per diem.
OTR:
Over The Road
OTR driving normally means you'll be hauling freight to various customers throughout your company's hauling region. It often entails being gone from home for two to three weeks at a time.
Per Diem:
Getting paid per diem means getting a portion of your salary paid to you without taxes taken out. It's technically classified as a meal and expense reimbursement.
Truck drivers and others who travel for a living get large tax deductions for meal expenses. The Government set up per diem pay as a way to reimburse some of the taxes you pay with each paycheck instead of making you wait until tax filing season.
Getting per diem pay means a driver will get a larger paycheck each week but a smaller tax return at tax time.
We have a ton of information on our wiki page on per diem pay
Here we have a bunch of information on per diem:
Per Diem Pay For Truck Drivers
Per Diem:
Getting paid per diem means getting a portion of your salary paid to you without taxes taken out. It's technically classified as a meal and expense reimbursement.
Truck drivers and others who travel for a living get large tax deductions for meal expenses. The Government set up per diem pay as a way to reimburse some of the taxes you pay with each paycheck instead of making you wait until tax filing season.
Getting per diem pay means a driver will get a larger paycheck each week but a smaller tax return at tax time.
We have a ton of information on our wiki page on per diem pay
Thank you both very much. Will def read the links in your posts Brett.
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Does anyone know how to figure out the numbers for the per diem ? And do I add the rate for the per diem from the state I live in or the state I work out of ? How do I calculate this?
Per Diem:
Getting paid per diem means getting a portion of your salary paid to you without taxes taken out. It's technically classified as a meal and expense reimbursement.
Truck drivers and others who travel for a living get large tax deductions for meal expenses. The Government set up per diem pay as a way to reimburse some of the taxes you pay with each paycheck instead of making you wait until tax filing season.
Getting per diem pay means a driver will get a larger paycheck each week but a smaller tax return at tax time.
We have a ton of information on our wiki page on per diem pay