OTR Truck Driver Per Diem Senario

[lvsteve]

Part 1...My work is always more than 100 miles from home. I understand that as of Oct 1, 2009, the per diem for M&IE is set at $59/day. The company that I work for will contribute, depending on the circumstances, $15 a day towards my M&IE while on the road. On those days where the company I work for gives me the $15/day allowance, do I have to claim 0.00 (zero) for that day or can I simply deduct the $15 from the $59/day M&IE and claim $44 for that day. I understand that when I file my 2010 taxes next year I will claim on my tax form 75% of the M&IE for 2010.

Part 2...what about the other expenses like cell phone, uniforms, new boots when I have to buy them, pens, xerox paper, etc., that I need to buy and use to perform my job...at what percentage do I claim these type of expenses on my taxes?

Any help and assistance will be greatly appreciated. As you can tell this is the first time that I will be filing out a long form for my taxes.

[chief]

You need to consult a professional tax preparer. This would be money well spent. TAX SOFTWARE DOES NOT EQUAL TAX KNOWLEDGE as you probably are beginning to realize.

[jainen]

>>I will be filing out a long form<<

"Long form" most commonly implies itemized deductions, as in your usage. In my experience, employee expenses alone are rarely enough to switch from standard deduction. It is therefore entirely possible that you will be taxed on the extra $15 per day while getting NO extra deduction for anything. I agree with Chief--see a professional.

[lvsteve]

THANKS for your time and input. Sounds like that exactly what I will be doing...getting professional tax help.

You need to consult a professional tax preparer. This would be money well spent. TAX SOFTWARE DOES NOT EQUAL TAX KNOWLEDGE as you probably are beginning to realize.

[lvsteve]

Thanks for your reply as well. Definitely it looks as if a professional tax person is gonna be the way to go.

>>I will be filing out a long form<<

"Long form" most commonly implies itemized deductions, as in your usage. In my experience, employee expenses alone are rarely enough to switch from standard deduction. It is therefore entirely possible that you will be taxed on the extra $15 per day while getting NO extra deduction for anything. I agree with Chief--see a professional.