UPS - new per diem rates 2008
01-28-2008 | 02:31 PM
#25
Gets Weekends Off
Joined: Dec 2006
Posts: 1,784
Likes: 0
From: I was acquired, Not Hired
Stupid question for ya. If your perdiem is based on the government rate is the tax writeoff the same?
I'm glad you posted this, next time in PVG when I run into you guys I will politely indicate that I am out of per diem and that I know for a fact that you have 20 bucks left. So the last round's on you!
I'm glad you posted this, next time in PVG when I run into you guys I will politely indicate that I am out of per diem and that I know for a fact that you have 20 bucks left. So the last round's on you!
MD Phlyer,
At the risk of being totally wrong and publicly corrected, I'll take a stab at your question.
As our UPS per diem goes up our tax writeoff is less. Here is my amateur reasoning.
Simplified, if you itemize and file a form 2106 Employee Business Expenses you can add up your Meal and Entertainment Expenses (basically what the government thinks you will spend in each city) and then multiply it by 75% since your are a transportation worker. So let's call this number "Your expenses/your writeoff"
On the other hand, your company pays you a per diem which is used to offset, "Your expenses/your writeoff".
The more you are paid in per diem, the less you will be able to writeoff on From 2106.
I hope I answered your question, and I hope my info is accurate.
Regards,
FF
01-30-2008 | 05:58 AM
#26
Tri-tanic operator
Joined: Jul 2006
Posts: 2,382
Likes: 0
From: Doggie
Tax write-off on per diem .... ???
You claim expenses for layovers (govt per diem tables or actual receipts) and adjust for what your company reimburses you (W-2 info). Just like FF said ... really isn't anything different.
Brown may have a smaller business related expense "deduction" ... (Form 2106)
But I would rather get $500 more in per diem through the year than save $250 in yearly taxes ... or whatever the actual numbers may be.
Call me crazy ...
Later, Brown CC
You claim expenses for layovers (govt per diem tables or actual receipts) and adjust for what your company reimburses you (W-2 info). Just like FF said ... really isn't anything different.
Brown may have a smaller business related expense "deduction" ... (Form 2106)
But I would rather get $500 more in per diem through the year than save $250 in yearly taxes ... or whatever the actual numbers may be.
Call me crazy ...
Later, Brown CC
01-30-2008 | 06:15 AM
#27
Line Holder
Joined: May 2006
Posts: 1,050
Likes: 32
Unpaid Perdiem
www.pro-diem.com
Submitted mine and got it back in 1 day. They charge $50 and that's deductible as well.
7 months of line flying at UPS (all domestic/Hawaii & on leave/training for 5 months) - UPS calculated the total perdiem to be $4058.60
pro-diem calculated it to be $6263.97. Subtract the difference, take 75% of that number. Or use turbotax like I did and they do it for you. Mind you, it's probably not worth it if you don't itemize and have other business deductions (headset, flashlight, etc etc etc). I heard that prodiem will let you know if you don't have enough perdiem $$$ difference to be worth it. Great service.
Submitted mine and got it back in 1 day. They charge $50 and that's deductible as well.
7 months of line flying at UPS (all domestic/Hawaii & on leave/training for 5 months) - UPS calculated the total perdiem to be $4058.60
pro-diem calculated it to be $6263.97. Subtract the difference, take 75% of that number. Or use turbotax like I did and they do it for you. Mind you, it's probably not worth it if you don't itemize and have other business deductions (headset, flashlight, etc etc etc). I heard that prodiem will let you know if you don't have enough perdiem $$$ difference to be worth it. Great service.
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