theoldprof
Veteran Expediter
Frank, I understand the per diem is a tax deduction that can be used when compiling your tax return. Exactly what does it cover? Does one still save meal receipts, shower expense, etc? Thanks.:+ :+
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What is per diem
- Thread starter theoldprof
- Start date
The Per diem deduction is for all drivers who stay out overnight and sleep in there truck, do a log book or have a record of pick ups and delivery of freight away from there place of abode.
The diem is $ 41.00 per day in the US and $46.00 per day in Canada or Mexico. and is figured at 70% of the total YOUR MUST FIGURE THE DAYS LOGGED FROM TIME OF DAY YOU LEFT AND THE TIME OF DAY YOUR RETURNED.
BASED ON 1/4 DAYS, MIDNIGHT TO 6AM, 6AM TO NOON AND SO ON
IF YOU ARE A LOCAL DRIVER AND YOUR LOADS ARE LESS THAN 250-300 MILES ROUNDTRIP YOU CANNOT TAKE THE PER DIEM. UNLESS YOU STAY OUT OVERNIGHT IN YOUR TRUCK OR STAY AT A MOTEL, THE MOTEL IS THEN A DEDUCTION
fRANK
The diem is $ 41.00 per day in the US and $46.00 per day in Canada or Mexico. and is figured at 70% of the total YOUR MUST FIGURE THE DAYS LOGGED FROM TIME OF DAY YOU LEFT AND THE TIME OF DAY YOUR RETURNED.
BASED ON 1/4 DAYS, MIDNIGHT TO 6AM, 6AM TO NOON AND SO ON
IF YOU ARE A LOCAL DRIVER AND YOUR LOADS ARE LESS THAN 250-300 MILES ROUNDTRIP YOU CANNOT TAKE THE PER DIEM. UNLESS YOU STAY OUT OVERNIGHT IN YOUR TRUCK OR STAY AT A MOTEL, THE MOTEL IS THEN A DEDUCTION
fRANK
theoldprof
Veteran Expediter
>>
>The diem is $ 41.00 per day in the US and $46.00 per day in
>Canada or Mexico. and is figured at 70% of the total
Frank.
Would you explain more about the 70%. If I understand, the $41.00 per diem is a deduction that is taken when you are on the road. It has nothing to do with food, showers, and other expenses. Am I right? Thanks. :+ :+
>The diem is $ 41.00 per day in the US and $46.00 per day in
>Canada or Mexico. and is figured at 70% of the total
Frank.
Would you explain more about the 70%. If I understand, the $41.00 per diem is a deduction that is taken when you are on the road. It has nothing to do with food, showers, and other expenses. Am I right? Thanks. :+ :+
Hi Again OLDPROF,
>The diem is $ 41.00 per day in the US and $46.00 per day in
>Canada or Mexico. and is figured at 70% of the total
Frank.
You asked:
Would you explain more about the 70%. If I understand, the $41.00 per diem is a deduction that is taken when you are on the road. It has nothing to do with food, showers, and other expenses. Am I right? Thanks.
So far you are correct in stating that one has nothing to do with the other except for food.
The exact way the perDiem works is this.
Your on the Road and out for lets say 310 days logged, or some proof of being out 300 X"s $41.00 and whatever days you spent in Canada, lets say 10 days added to the amount would be $12,760 would be multiplied x 70% would give you your actual deduction of $ 8,932.00
your. So $8,932 would be entered in the meals & entertainment line stating SUBJECT to DOT Regulations typed in or if computer generated you should do a ???? in the box line. and state how many in US and in Canada.
You cannot take food as a deduction at all, it is part of the per diem
however you can take the mileage, showers, laundry, and other misc dedutions that are allowable.
Frank
>The diem is $ 41.00 per day in the US and $46.00 per day in
>Canada or Mexico. and is figured at 70% of the total
Frank.
You asked:
Would you explain more about the 70%. If I understand, the $41.00 per diem is a deduction that is taken when you are on the road. It has nothing to do with food, showers, and other expenses. Am I right? Thanks.
So far you are correct in stating that one has nothing to do with the other except for food.
The exact way the perDiem works is this.
Your on the Road and out for lets say 310 days logged, or some proof of being out 300 X"s $41.00 and whatever days you spent in Canada, lets say 10 days added to the amount would be $12,760 would be multiplied x 70% would give you your actual deduction of $ 8,932.00
your. So $8,932 would be entered in the meals & entertainment line stating SUBJECT to DOT Regulations typed in or if computer generated you should do a ???? in the box line. and state how many in US and in Canada.
You cannot take food as a deduction at all, it is part of the per diem
however you can take the mileage, showers, laundry, and other misc dedutions that are allowable.
Frank