can a van operator deduct per-diem?

[guest]

The following is in an article on this web site.

Review of what's new in 2003
The percentage deduction for meals is still 65% but the dollar amount increased to $40.00 per day for drivers subject to the DOT hours of service limitations. The percentage of deduction increases 5% every other year on even years until it reaches 80% in 2008.

What does this mean to us van operators?

 

[Fkatz]

Hi Childsafe,

yes you can take the diem
the per diem is lets say your out 300 days with proof, log books,or copies of Bill of Ladings to show that you made deliveries,
300 days X $40.00 = $12,000
65% X's 12,000 = $ 7,800 is your deduction

Frank
if you would like an explaination
mail or e-mail me your address and I will send you any information you request.
[[email protected]]
or mail to
Frank's Tax & Business Service
226 S. Cherokee St
Kings Mountain, NC 28086

 

[guest]

even though van operators are not subject to the DOT regulations? Did the writer just get it wrong?

 

[Fkatz]

Hi ChildSafe again,

the diem pay is available to you no matter what, due to the fact that you are or will be leased on to a company

Frank

 

[woobergoober]

Hello,

Please forgive my ignorance, but I was reading this thread and trying to make sure that I was reading it correctly. I am a regional driver, who is home at night, but am leased to a company, and own my truck. Am I qualified to take the per diem deduction, or do I not meet the criteria. I run about 300 miles a day, 5 days a week. My accountant told me he did not think I qualified for this deduction, when doing last years taxes. Thank you for any help.


Scott

 

[Fkatz]

Hi Woobergoober,

sorry for the delay due to being quite busy in the tax office, but I am sorry to also inform that your accountant is correct and you are not entitled to the per diem deduction due to the fact that you are home every night

Frank