Diem Rate

Fkatz · Jan 25, 2002

Hi ALL,

We finally got the final PER DEIM RATE that you as drivers can use, the rate overall stays the same $38.00 per logged day out in the U.S. and $42.00 per day in Canada.
The Only areas where it increases to $46.00 per day is as follows: You must spend a miminun of 4 hours in each area to qualify.

CA: Death Valley
LosAngeles, Orange, Ventura, Edwards AFB: Navel
Weapons Center & Ordinance Test Station, China Lake.
Mammoth Lakes, Yosemite National Park(all year)
CO: Aspen, Telluride, and Vail
DC: Washington, DC and Surrounding area
FL: Ft. Pierce,Key West,Palm Beach(Includes Boca
Raton,Delray Beach, Jupiter, Palm Beach Gardens,
Palm Beach Shores, Singer Island,& W. Palm Beach.
IL: Chicago (Cook, Lake County)
MA: Boston, Cambridge, Marthas Vinyard, Nantucket
MD: Surrounding area of DC, Ocean City.
MI: Detroit, Wayne County only
MN: Minneapolis/St Paul( Henniepin,Ramsey,& Ft.Snelling
MO: St. Charles, St. Louis
MT: Big Sky
NY: Manhatten/Brooklyn/Queens/Bronx
OH: Cincinnati(Hamilton, Warren Counties
PA: Pittsburgh(Allegany)& Philadelphia(Phil)
TX: Dallas only, not FT. Worth
UT: Park City(Summit County)
WA: Seattle
For Drivers who either stay-overnight or stop for food only, if Driving thru YOU MUST USE THE STANDARD RATE OF $42.00 REMEMBER THESE ARE SUBJECT TO 60%. SO YOUR ACTUAL DEDUCTION IS $22.80 PER DAY ON $38.00 AND $25.20 AT 42.00 PER DAY.
BUT MAKE SURE YOUR PREPARER USES THE $38.00 & $42.00 UNDER MEALS & ENTERTAINMENT AND PUTS THE TOTAL AMOUNT OF DAYS X THE RATE ON THE TAX RETURN AND SPECIFIES SUBJECT TO D.O.T. REGULATIONS. OTHERWISE, IT WILL COME UP AS ONLY A 50% DEDUCTION.

ANY QUESTIONS PLEASE E-MAIL ME AT
[email protected], Question me on the Forum,
or Call (704)739-4039 for more information,

BOBBYSGIRL · Jan 25, 2002

PLEASE TELL ME WHERE YOU GOT YOUR INFORMATION FROM!!!

teacel · Jan 25, 2002

Hi Fkatz!
I guess some people on this site don't know who you are and what you do. That info is a great help. It makes it alot easier for people that want to do thier own taxes.

BOBBYSGIRL · Jan 27, 2002

i don't know who he is i'm new to this. but stil i have been looking online and everything i find says $30 a day. so i wanted to know where he got it from so i could check it out. i have been looking for days. thats why i wanted to know where he got his information from.

Christyrose · Jan 27, 2002

Hi ya Fkatz!

Thanks again for your help. Most information you have been providing us is not found on the net or most tax books. You have been so helpful.

Bobbygirl, Fkatz is a tax accountant. He has been helping us with taxes and many questions. As tax time gets closer, you will be seeing more post from Fkaltz. Fkatz also has a forum. Go to the bottom of the forum and check under the change forum listing.

Save your all of receipts, my mom always said. Did I ever listen? NO!x(

Fkatz · Jan 28, 2002

HI BOBBYSGIRL,

ALL OF THE INFORMATION THAT I GET IS FROM THE FOLLOWING:

THE NATIONAL ASSOCIATION OF TAX PROFESSIONAL (NATP)[www.natptax.com]& there professional memberships listing under[www.taxprofessionals.com]

Through this association we are kept up to date with the ever changing tax laws through, seminars, tax magazines, update information monthly, and conferences.

We also get the information that I send to you drivers from the INTERNAL REVENUE TAX WEB SITE AT [www.irs.ustreas.gov/forms_pubs/pubs.html]
you can download and read any of the publication that pertain to our business or just business in general.

The publications are as follows, these are just a few that the information is forward to you.
17 TAX GUIDE FOR INDIVIDUALS
# 334 TAX GUIDE FOR SMALL BUSINESS
463 TRAVEL, ENTERTAINMENT, GIFT AND CAR EXPENSES
525 TAXABLE AND NON TAXABLE INCOME
529 MISCELLANEOUS DEDUCTIONS
535 BUSINESS EXPENSES
536 NET OPERATING LOSSES FOR INDIVIDUAL, ESTATES, AND TRUSTS
538 ACCOUNTING PERIODS AND METHODS
542 CORPORATIONS
551 BASIS OF ASSETS
587 BUSINESS USE OF HOME
946 DEPRECIATION (HOW TO DEPRECIATE PROPERTY)
1542 PER DEIM RATES
1066 SMALL BUSINESS TAX WORKBOOK

As I said this is just a small part of what is available to you on the internet site.

If you have any questions please call me at (704) 739-4039 or E-mail me at [[email protected].

Thank you;
Franklin Katz
Frank's Tax & Business Service
308 E. King St.
Kings Mountain, NC 28086

PS: I am also a expediter leased on the CTX, INC for almost 5 years, with a cargo van and prior to that a Company driver, tractor/trailer for KLLM Transport Service, Jackson, MS, 1992-1997 and Carretta Trucking Co, Paramus, NJ {1991-1992, DOT shut them down in in late 1993-early 1994)

So by being trucker so I know what you can and cannot take as deductions on your Federal Income Tax. I am available all year, even though I am on the road just like you from May 1, thru Christmas, thru pager, cell-phone, and answering machine. The normal response to your page or message is 24-48 hours. if needed for any tax problem that might arise.
thanks again
Frank katz