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Tag: per diem
Business
IRS meals deductions change doesn't apply to truckers' per diem
ATBS clarifies deductibility of per diem in light of recent IRS meals shift. Love's companies and Cargill's new 50/50 joint venture to produce and market renewable diesel. Driver recognized as Highway Angel for helping locate missing elderly man.
April 22, 2021
Business
Bill in Congress would restore drivers’ per diem tax deduction
The deduction saved drivers hundreds — if not thousands — a year in tax liability, depending on how many days a year they worked. The per diem changes instituted by the 2017 law did not affect owner-operators, who can still deduct per diem as a business expense.
May 1, 2019
Business
As per diem benefit sunsets for company drivers, carriers find a work-around and OOIDA asks Congress to act
Swept away with new tax code enacted in late 2017 was the allowance for company drivers to take the per diem income deduction. Carriers are altering pay packages to help account for the change, while OOIDA is asking Congress to restore the tax benefit.
January 25, 2019
Business
IRS bumps up owner-operators’ per-diem allowance
Owner-operators can now claim a meal per diem when they're away from home, according to a new per diem structure announced by the Internal Revenue Service.
October 4, 2018
Business
Tax bill likely sunsets meal per diem for drivers, cuts rates across the board
Insight into the tax reform bill that passed Congress on Wednesday, including tips on ways to maximize deductions — and minimize tax bills — for this year and next.
December 19, 2017
Channel 19
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.
April 4, 2017
Channel 19
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.
April 3, 2017
Business
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.
September 24, 2015
Overdrive Extra
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.
April 1, 2012
Overdrive Extra
Taking the per diem deduction
Knowing the per diem basics will help you navigate the tax labyrinth.
October 1, 2011
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