Tax Question
I am new to driving so I am throwing this out to you experienced guys. What is your understanding about the daily tax deduction that drivers can take for expenses?
I have heard every explanation from "you can only take it if you sleep 10 hrs in the truck/gone from home for multiple days" to "you can take a percentage of the daily deduction based on the amount of time in the 24 hour period you are away from home." We have a driver at our terminal who swears that he has taken the deduction for years and has never had a problem. He takes it for all days regardless if he bags out or just takes turns and comes home at the end of his shift.
I have read over the IRS information and in all honesty I think it does nothing but add more confusion. I have to talk to my tax man this week. I guess he will have the final say but I would like to hear from you all and see what your opinion is on the subject.
Thanks
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