per diem

More ELD questions answered by Wes Memphis

And: A word from reader Bob Glaves against the ELD mandate; Revisiting tax/per-diem strategies that can be short-sighted when it comes time to weighing the need for income at retirement.

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In the per-diem weeds with company drivers

In which a reader asks a question about treatment of the standard per-diem deduction depending on how the carrier treats a standard reimbursement -- after-tax or pre-tax. Mike Calahan of ATBS provides the answer.

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IRS to allow higher per diem for meal expenses for owner-ops starting Oct. 1

Truck operators starting Oct. 1 will be able to deduct up to $4 more a day from their yearly income for meal expenses. A change in IRS rules that goes into effect that day raises truckers’ per diem meal expense rates to $63 a day, up from the current $59 mark.

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Your role in tax prep

If you want to avoid the most common mistakes I see with owner-operator tax returns, you need to get involved in checking the major numbers your tax preparer is using.

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Taking the per diem deduction

Knowing the per diem basics will help you navigate the tax labyrinth.

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