![[Valid Atom 1.0]](valid-atom.png "Validate my Atom 1.0 feed")
TRUKERS' TAX HELP * USA - "On The Road Again, Just Can't Wait......"
If you haven't used this deduction in the past and are eligible, pull out those returns and starting amending. You might just be seeing Uncle Sam giving you more of those hard earned dollars back. Can't beat that with a stick...
USA - Tax Resolutionaries -1 May 2008: -- Most long haul truckers are aware of the per diem deduction for meals and entertainment. But for those who are not and have not been taking full advantage of this deduction, take a look at the rates and do the math. This is a stellar way of reducing your tax liability... First, you need to remember that any per diem amount can be highly scrutinized by the IRS. Therefore, keep those log book records..... this is the best proof of a per diem deduction. Also remember that you have to be a "long haul trucker" (on the road for over 12 hours per day)... Now let me give you an example of how great a deduction this can be.
250 days on the road driving coast to coast and hitting all the major cities (New York, Chicago, St. Louis, Dallas, Los Angeles) qualifies for the $58.00 per day rate:
250 day X $58.00 = $14,500 x 75% = $10,875 deduction amount (receive 75% since you are covered under DOT regulations)...
And the best part of it all is that you don't need to keep meal receipts... those log books are your golden ticket!...
... Don't mention it ... You're wellcome anytime !!!
Labels: truckers' tax help
posted by Unknown @ 7:28 AM
0 Comments:
Post a Comment
<< Home