Long haul truckers can deduct per diem from your taxes. Ask your tax preparer about it and keep good records of the days you were away from home.
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Submitted 666 days ago...
Long haul truckers can deduct per diem from your taxes. Ask your tax preparer about it and keep good records of the days you were away from home.
If you have had a tax preparer file your previous returns without using per Diem, fire your tax preparer. One of my core client base is truck drivers (company and owner operators). You need to find a good tax preparer who will advise you on the records you need ot keep. You need to retain your last pay stub of the year - this gives you your per Diem rates (and reimbursements), and your settlement sheets from your company - this gives you all of the information you should need. In addition you should NEVER throw away your logbooks - these give you days away from home. This will also tell your preparer how many days you can take the meal allowance. You also can make notes on the back of your copy of the log book for expenses you are unable to document (laundry, etc). You can attach things like motel receipts, entertainment expenses (things like books, movie, wifi internet expenses), truck washes if you are an O/O, truck supplies like gloves, window cleaner, paper towels, etc. A preparer who services truckers will be very knowledgeable about what you can and cannot take. You need to make sure you go to a preparer who does more than one a year. When you are done having your return prepared, you should file your return and pertinent documents (logbooks, settlement sheets, paystubs, etc. together so that if you need that information it will be with your tax return. Also ask your preparer for one extra copy of your return (make sure your preparer signs all pertinent documents pertaining to your return). This extra copy you can file in a separate file with just the return so that if you have to give a copy to someone you don't have to open the file you would have if you got audited and worry about losing some of your documents. Hope you find someone proficient.
Additional INFO:
I forgot to mention that if you have your receipts and logbooks from prior years (or can get them) you can amend back as far as 2006. 2006 closes on April 15th 2010 because that is the final filing date of the 2009 return. When that date passes, the 2006 return is no longer able to be amended and still receive a refund if your claim for per Diem would get you a refund. You can still amend the return after that date but you would not receive a refund if you have one coming. My suggestion is to do 2006 first if you are plan to amend your eligible returns.
If you are computer literate, I advise getting MS Excel and keep a spreadsheet (items across the top and dates down the left column) of your expenses. Separate your receipts for storage and verification in different envelopes. If you are questioned it is easier to find one in 52 weeks of receipts for one item than it is to find one in hundreds of receipts. When your return is competed you can put all of the envelopes and a signed (by your preparer) copy of your return with a copy of your W2 in one big envelope or small box, label it with the year and store it in a safe place away from rodents and insects.
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