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One more question
- Thread starter MSinger
- Start date
>If a driver is operating a vehicle under 10,001# can he
>still take 70% of the per diem? I read somewhere that only
>drivers who fall under the DOT Hours of Service regulations
>can take the 70%.
>Thanks
Yes , you are still traveling . Days are divided into quartes if you are out less than a full day .I read that in '06 you will be able to deduct 80% of $50 . Check on that when you start quarterly payments for '06
>still take 70% of the per diem? I read somewhere that only
>drivers who fall under the DOT Hours of Service regulations
>can take the 70%.
>Thanks
Yes , you are still traveling . Days are divided into quartes if you are out less than a full day .I read that in '06 you will be able to deduct 80% of $50 . Check on that when you start quarterly payments for '06
If a driver is operating a vehicle under 10,001# can he
>still take 70% of the per diem? I read somewhere that only
>drivers who fall under the DOT Hours of Service regulations
>can take the 70%.
>Thanks
Yes , you are still traveling . Days are divided into quartes if you are out less than a full day .I read that in '06 you will be able to deduct 80% of $50 . Check on that when you start quarterly payments for '06
To MSinger,
The answer to your question is As long as you are away from home and in the expediting business you are entitled to the Per diem Allowance.and truthfully you are subject to the DOT regulations. except that you do not provide a log book.
But I will suggest to you if you go into certain states. like Alabama, california, Oregon, Arizona, New Mexico, Texas, Missouri, Wyoming or wherever when it states that all commerical vehicles must pass through the scales, like here in NC. it is suggested that you do run a log book Alabama, California, do check to see if you have one.
The per Diem allowance for 2005 if you were in business all year or if you started prior to Sept 30, 2005 you are entitled to only $41.00 per day at 70%. If you started after on Oct 1st or after you are entitled to $52.00 per day and it is divided into quarter days.
To Crazynuff; Your information is not correct, the 80% does not start until 2008, for 2006 it will be 75% of $52.00 US and $58.00 Canada. When the IRS reduced the original 80% for the per diem in 1998 and we got 55% they made it that every 2 years it will increase 5%. Right now it is at 70% for 2005, and 75 for the next 2 years.
As far as the per diem is concerned it normally is changed on a yearly basis and effective on Oct 1. of each year. but use the $52 and $58 for the total per day for this year at least until it is changed or not. I will not know of this change until that time.
Frank
>still take 70% of the per diem? I read somewhere that only
>drivers who fall under the DOT Hours of Service regulations
>can take the 70%.
>Thanks
Yes , you are still traveling . Days are divided into quartes if you are out less than a full day .I read that in '06 you will be able to deduct 80% of $50 . Check on that when you start quarterly payments for '06
To MSinger,
The answer to your question is As long as you are away from home and in the expediting business you are entitled to the Per diem Allowance.and truthfully you are subject to the DOT regulations. except that you do not provide a log book.
But I will suggest to you if you go into certain states. like Alabama, california, Oregon, Arizona, New Mexico, Texas, Missouri, Wyoming or wherever when it states that all commerical vehicles must pass through the scales, like here in NC. it is suggested that you do run a log book Alabama, California, do check to see if you have one.
The per Diem allowance for 2005 if you were in business all year or if you started prior to Sept 30, 2005 you are entitled to only $41.00 per day at 70%. If you started after on Oct 1st or after you are entitled to $52.00 per day and it is divided into quarter days.
To Crazynuff; Your information is not correct, the 80% does not start until 2008, for 2006 it will be 75% of $52.00 US and $58.00 Canada. When the IRS reduced the original 80% for the per diem in 1998 and we got 55% they made it that every 2 years it will increase 5%. Right now it is at 70% for 2005, and 75 for the next 2 years.
As far as the per diem is concerned it normally is changed on a yearly basis and effective on Oct 1. of each year. but use the $52 and $58 for the total per day for this year at least until it is changed or not. I will not know of this change until that time.
Frank