Can LLC filing as S Corp pay 100% expenses for DOT OTR Truck Driver's meals and lodging?

[BAWEBBER]

We have just started our own trucking LLC and are going to file as an S Corp. One of our owners (owns 98% of company) will be driving OTR away from home on a regular basis. He is driving at DOT Class B vehicle and will be paid as an employee/DOT driver. We want the coporation to pay for all meals, fuel, and lodging expenses for our "DOT Driver" classification employees (we plan to expand to have other drivers). All meals, fuel and lodging could be paid with a corporate credit card. Can the corporation deduct 100% of actual charges for meals, lodging and fuel on its S Corp income tax filing?

We are considering an alternate per diem payment for drivers. Can the corporation pay drivers $59 per diem when they are traveling overnight? Can the corporation deduct 100% of the $59 as a business expense or is the corporation subject to the 80% rule?

Our corporation does not own the vehicles (yet). Our corporation is providing driving services to another corporation. Our corporation is paid a percentage of the rate. Our corporation is responsible for all fuel charges and driver expenses.

[Guest Taxed]

Are you the tax return preparer or the owner of the Trucking company?

Refer to IRS notice 2012-63 and IRC 274(n)(3) for per deim and 80% rules.

[BAWEBBER]

I am one of the owners of the Trucking company.

[Jack from Ohio]

I am one of the owners of the Trucking company.

What has your tax accountant advised you in this matter?

Refer to IRS notice 2012-63 and IRC 274(n)(3) for per deim and 80% rules. Just as Taxed recommended.

[Guest Taxed]

I am one of the owners of the Trucking company.

If you do not already have an accountant to advise you on tax matters for your business, you could see if a tax professional from this board is willing to help you in a professional capacity. You will need to post your location etc.

[ed_accountant]

Here is a trucking forum for taxes that may be helpful:

http://www.thetruckersreport.com/truckingindustryforum/trucker-taxes/

I would suggest that you repost your question at thetruckersreport forum. There are a few trucking acccountants that answer questions on that board.