Per Diem Vs Tax Break
Topic 24855 | Page 1
Per diem is the tax break. It was instituted by companies to compensate for the loss of itemized tax deductions for drivers as decided by the Great White Fathers on the shores of the Potomac River. That is how I understand it. Someone correct me if I'm not accurate.
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
Not sure what you are asking. With per diem , you get more in your pocket and less taxable income. There is no other tax break.
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
It allows the companies to pay less in employer taxes and affects your social security at a lower rate as well.
Are there alot of OTR companies offering per diem Ive been speaking with some folks and had a few interviews there offering food vouchers and a deduction of some sort.Im still trying to learn how that works.
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
TMC offers the per diem , and I'm going to give it a try. For purpose states above such as SS (and TMC ESOP program), those could be negative effects of taking the per diem.
It MAY be better for me to take the 12k standard deduction at the end of the year instead.
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
HOS:
Hours Of Service
HOS refers to the logbook hours of service regulations.
It MAY be better for me to take the 12k standard deduction at the end of the year instead.
The 12k standard deduction applies to all single taxpayers regardless of taking per diem or not.
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
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Any body getting per diem ? I hear tax break is more common ? Is the tax break a break? Is it a complicated process?
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