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April 2017 locations & Gossip

Moot

Moot

Veteran Expediter
Owner/Operator
VSprinter said:
FlyingVan said:
My refund has already been spent. Lol.
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Lucky bums, get refunds.
I have to pay 4k
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Bums, maybe. Lucky, not so much. The refund they receive is their own money without interest that the government was kind enough to hold for them.

$4,000 is a lot to pay. Apparently you didn't make estimated quarterly payments and/or don't take the per diem or other available deductions.
 
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VSprinter

VSprinter

Veteran Expediter
Owner/Operator
Moot said:
Bums, maybe. Lucky, not so much. The refund they receive is their own money without interest that the government was kind enough to hold for them.

$4,000 is a lot to pay. Apparently you didn't make estimated quarterly payments and/or don't take the per diem or other available deductions.
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Filing jointly. This driving gig and my wife business. Almost a wash. Not quite.
Would have been 8-10k if not for credits.
I blew it going itemized at first. Explain Per diem?
 
Moot

Moot

Veteran Expediter
Owner/Operator
VSprinter said:
I blew it going itemized at first. Explain Per diem?
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For every day or part of a day you are away from home you can claim per diem. I don't recall the exact formula but its a percentage of $70 or $80 that works out to about a $52 a day deduction.
 
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VSprinter

VSprinter

Veteran Expediter
Owner/Operator
Moot said:
For every day or part of a day you are away from home you can claim per diem. I don't recall the exact formula but its a percentage of $70 or $80 that works out to about a $52 a day deduction.
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Nothing to do with milage? As I have to itemize for most things.
It's a meal thing, right?
Per diem is not only to HOS people?
 
Grizzly

Grizzly

Veteran Expediter
Owner/Operator
Light snow falling at the J in Denver ...

5f4ea754bc4d2b1aa85bedb90e646198.jpg


Sent from my VS987 using EO Forums mobile app
 
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ntimevan

ntimevan

Veteran Expediter
Owner/Operator
Moot said:
Were you at the Road Ranger in Elk run last night?
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Nope ... 45 miles west at home .. another RRE unloaded in Waterloo this morning ... so was 3 in the neighborhood ...

hauling freight from a Pond near you
 
ntimevan

ntimevan

Veteran Expediter
Owner/Operator
Moot said:
For every day or part of a day you are away from home you can claim per diem. I don't recall the exact formula but its a percentage of $70 or $80 that works out to about a $52 a day deduction.
Click to expand...
The Per-diem for me yesterday was ..289 nights from home x $63 .00 × 80 % ... but the Business miles was over 136,000 miles ...biggest deduction ... i ended up with a $5,000. Profit .. but wife worked about 9 months and we received joint return of $3,100....

hauling freight from a Pond near you
 
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VSprinter

VSprinter

Veteran Expediter
Owner/Operator
ntimevan said:
The Per-diem for me yesterday was ..289 nights from home x $63 .00 × 80 % ... but the Business miles was over 136,000 miles ...biggest deduction ... i ended up with a $5,000. Profit .. but wife worked about 9 months and we received joint return of $3,100....

hauling freight from a Pond near you
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So you claimed milage and per diem?
Can I claim itemized fuel and per diem?
 
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