Hi everyone, it is Tax Season again, and I don't like taxes anymore than you do, but I am here to make it a bit easier and hopefully save you some money in two ways.
1. Pay less to to the IRS
2. Save on tax preparation fees.

I'm in the transportation industry and work trips all over the US and Canada. I came to this job from a tax and financial background. (I hate the office).

Well, I started noticing ways to save money on taxes in my work transporting people and their things all over the country. I started noticing so much savings that I got back into the tax business and made a website that does 1 thing, it calculates Per Diem and Travel Expenses which save the user on average about $800, and often quite a bit more. So if you ever spend the night away from home, or have work related expenses that your employer doesn't pay for (Cell Phone, Internet, Union Dues, Chains, Gloves, Logbooks, etc..) you may be missing out on some big tax savings.

So, after speaking with Jeff the owner of Trucking Boards, and getting his permission, I am here to answer your tax questions for free. I am a Certified Financial Planner, and IRS Enrolled Agent (means I am licensed to talk to the IRS when folks are audited and I've got to keep up with all the latest tax law changes)

So, if you have tax or financial planning questions, please ask them here, and I'll get you an answer. I don't mind answering anything tax financial related, if I don't have the answer, I'll find it. All I ask is that you don't p.m. me questions that can benefit the whole group. Of course if it is a personal situation, I will answer pm's.

Thanks,

Tax Guy
Per Diem Reports

do i need reciepts for all the food i buy when on the road? can i buy this food at a grocerystore and claim it on my taxes,drinks also?

You could itemize your food on the road by tracking everything you spend, but I suspect you might not spend as much as if you simply claim either the local or flat rate for where you spend the night (or a rest period).

The lowest US locality rate is $39, and the highest for say Los Angeles is $64, the flat US rate is $52. Depending on where you travel, either the flat rate or the locality rate works best. The Per Diem Calculator I've put together calculates it both ways, and it also gathers up all of your other work related expenses. It gives you the total deduction number for free, there is no catch. You simply put the total deduction number into your tax software on Schedule A line 21 and see how much it saves you. If it saves you money, you can purchase the substantiated report which lists all of your expenses and travel history and put the appropriate amounts on the tax form 2106.

Last year my average user saved about $800-$1200.

-Marc
Per Diem Reports

Welcome Tax Guy. It's great to have you with us. I'm sure you'll be a lot of help to some folks.

I have had some great questions.

I am amazed at how much money Truck Drivers are leaving on the table for the IRS to take.

You guys have some huge and often overlooked deductions.

I made an internet application that finds these missed deductions and totals them up for free. Just click on the link below my name and see how much you can save.

-Marc
Per Diem Reports

Sorry, the short and simple answer is No, you don't need to keep meal receipts.

However, if you have meal receipts, or any receipts for that matter, they can always help support your travel history if there is ever a question. THe only receipts you need to keep are non travel expenses, lodging receipts, an dany travel receipts greater than $75.

Travel receipts less than $75 only need a logbook entry stating the date place and purpose of the expense.


-Marc
Per Diem Reports