They took away the only perk of being a truck driverNew tax laws and doubling of the standard deduction eliminated the per diem deduction as of this year. There is something that owner operators can do to get around this I think? Being a company man just take the increased standard deduction and hope for the best! Kind of gives you one more reason to take a bid!
Company Drivers, or Employees of Trucking Companies
As previously mentioned. One part of the new tax bill approved in December of 2017 was the elimination of the Miscellaneous Itemized Deduction category. Things that fall in this category include unreimbursed employee expenses (see below), tax preparation fees, investment interest, etc. Note, the "unreimbursed employee expenses" include union dues, job education, certain uniforms, and TRAVEL.
For tax years beginning before 1/1/18, the IRS has allowed DOT transportation workers to take a per diem deduction for the days that they travel for work. Basically this means that drivers were allowed a small amount of tax-free money each day to help offset the increased living expenses incurred because of the nature of being on the road. However, beginning 1/1/18, this category of deduction has been eliminated.