per diem food allowance

[newthead]

Q: Can you claim the standard $38.00/day food allowance on taxes in a B-C unit? I know that is regular practice for OTR truckers.

 

[RichM]

If you are subject to DOT Hours of Service rule(Logs) you can claim 65% of the $38.00 per deim allowance,or $24.70 per day.This will gradually increase to 80% in 2008.In 2003 it goes to $40 per day at 65%.

 

[Fkatz]

To Newthead & Rich M.

If you look on my forum you will notice the exact information that you are looking for. I posted it as soon as I found out when the increase was taking effect.

DO NOT FORGET IT IS BASED ON THE TIME YOU LEFT AND THE TIME YOU RETURNED TO YOU REGULAR HOME.

YOU HAVE TO BASE IT ON NOT FULL DAYS OUT FOR THOSE TIMES, 1/4--12AM TO 6AM, 1/2--6AM TO NOON, 3/4-NOON TO 6PM, AND FULL DAY FOR 6PM TO MIDNIGHT.

PER DEIM RATE IS 1/1/02-9/30-02 $ 38.00 PER DAY US, $42.00 CANADA
10/1/02 12/31/02 $ 40.00 PER DAY US, $45.00 cANADA

MILEAGE ALLOWANCE FOR 2002 IS $ .365 PER MILE.
2003 IS $ .36 PER MILE A 1/2 CENT DROP

FRANK KATZ
FRANK'S TAX & BUSINESS SERVICE
704-739-4039