TeamBobAndBe
Seasoned Expediter
Where can I find a list of the different Per Diem amounts for each state?
Per Diem
- Thread starter TeamBobAndBe
- Start date
Why do you need per diem for each state? I believe the deduction is $58.00 in the US per day per team member when away from the house; I am not sure what the Canada Per Diem is.
This is a good post on why you need a good truck accountant.
This is a good post on why you need a good truck accountant.
pelicn thanks for correcting those figures I thought I might be off on that. We do not take the per diem deductions like salesmen do.
TeamBobAndBe
Seasoned Expediter
Thanks for the info. We do have a good Tax accountant, ATBS, and they have told me it is 80% of 52.00 per day per team member in the US and 58.00 in Canada. However, I have also been told by other accountants speciaizing in trucking that if you record the days in each state, you may take the states rate for the days in that state, which on average is higher than the 52.00 a day. I suppose a week of sitting simply has me looking for anything.
TeamBobAndBev
TeamBobAndBev
Hi all, Happy Holiday Season
You do not want to use Pubklication 1542 which gives you each state and the counties with a higher per diem, due to the fact that those per diem figures are only used for salesmen and other types of Companies. these figures would be subject to only 50% of the total and not 80%.
IF YOU USE THE STATE PER DIEM THE DEDUCTION IS NOT 80% OF THE TOTAL, IT IS ONLY 50%
The correct figures are $52.00 per day US, and $58.00 per day Canada, and if you do go into Canada, it has to be figured by the time you entered, and the time you returned, if you Lets say, Delivered in London, ON, approx 1/1/2 hours from the border, and recieved a load within 4 hours and out, you cannot take a full day in Canada, Then you are only entitled 1/4 of 1 day in Canada.
In an audit when they check your Logs, they will look for this. Remember DO NOT THROW AWAY YOUR LOG BOOKS, the normal STATUE OF LIMITATION is 3 years from the date filed. For you to be audited if picked. But hold onto them for at least 7-10 years. just incase they suspect fraud.
Franklin Katz, ATP,PA, CPB
Frank’s Tax and Business Service
120 York Rd
Kings Mountain, NC 28086-3151
(704) 739-4039
Fax: (704) 739-3934
Circular 230 Ruling: Compliance
This email (including any attachments) contains PRIVILEGED AND CONFIDENTIAL INFORMATION protected by federal and/or state law and is intended only for the use of the individual(s) or entity(is) designated as recipient(s). The information contained within this email should not be construed as tax advice. If you are not an intended recipient of the email, you are hereby notified that any disclosure, copying, distribution, or action taken in reliance on the contents of this email is strictly prohibited. Disclosure to anyone other than the intended recipient does not constitute a waiver of any applicable privilege. If you have received this email in error, please immediately notify us by phone at (704) 739-4039 or by email at [email protected] and then permanently delete the original and any copy of this email (including any attachments) and destroy any printout thereof.
You do not want to use Pubklication 1542 which gives you each state and the counties with a higher per diem, due to the fact that those per diem figures are only used for salesmen and other types of Companies. these figures would be subject to only 50% of the total and not 80%.
IF YOU USE THE STATE PER DIEM THE DEDUCTION IS NOT 80% OF THE TOTAL, IT IS ONLY 50%
The correct figures are $52.00 per day US, and $58.00 per day Canada, and if you do go into Canada, it has to be figured by the time you entered, and the time you returned, if you Lets say, Delivered in London, ON, approx 1/1/2 hours from the border, and recieved a load within 4 hours and out, you cannot take a full day in Canada, Then you are only entitled 1/4 of 1 day in Canada.
In an audit when they check your Logs, they will look for this. Remember DO NOT THROW AWAY YOUR LOG BOOKS, the normal STATUE OF LIMITATION is 3 years from the date filed. For you to be audited if picked. But hold onto them for at least 7-10 years. just incase they suspect fraud.
Franklin Katz, ATP,PA, CPB
Frank’s Tax and Business Service
120 York Rd
Kings Mountain, NC 28086-3151
(704) 739-4039
Fax: (704) 739-3934
Circular 230 Ruling: Compliance
This email (including any attachments) contains PRIVILEGED AND CONFIDENTIAL INFORMATION protected by federal and/or state law and is intended only for the use of the individual(s) or entity(is) designated as recipient(s). The information contained within this email should not be construed as tax advice. If you are not an intended recipient of the email, you are hereby notified that any disclosure, copying, distribution, or action taken in reliance on the contents of this email is strictly prohibited. Disclosure to anyone other than the intended recipient does not constitute a waiver of any applicable privilege. If you have received this email in error, please immediately notify us by phone at (704) 739-4039 or by email at [email protected] and then permanently delete the original and any copy of this email (including any attachments) and destroy any printout thereof.