food and taxes

Discussion in 'Ask An Owner Operator' started by Wespipes, Jan 9, 2020.

  1. Wespipes

    Wespipes Road Train Member

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    just curious of what other o/o's do? personally im setup as a LLC taxed as a scorp. so my question is, do you pay for your food while on the road with your business account? or do you use your personal account? I've been using my personal account. however i could see eating on the road a cost of doing business. i know i should talk to a tax professional. but all the same still curious what others do. id much rather use my business account, however being setup as a scorp i need to be careful to keep personal and business completely separate
     
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  3. Ubu

    Ubu Road Train Member

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    Just take the transportation per diem allowance. That's what it's for and you will get more of a deduction than taking actual expenses.
     
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  4. tnevin225

    tnevin225 Road Train Member

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    Thats what the daily Per-Diem is for, no need to separate your food expenses out, just use the daily allowance.
     
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  5. Brandt

    Brandt Road Train Member

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    I don't think eating on the road is a business expenses, because you also have eat at home. If you took people out for some kind of business meeting and paid for everyone that be ok or if you took shipper or broker out for dinner get get more business. The other big problem is you already have Per Diem as a taxes write off for food we all buy on the road as drivers.
     
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  6. Ubu

    Ubu Road Train Member

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    Of course meals on the road are a business expense.
    Why else would the IRS have a Per Diem allowance?
     
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  7. Brandt

    Brandt Road Train Member

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    Your correct they are. I thought everyone took Per Diem vs keep track of all the receipts
     
  8. Ruthless

    Ruthless Road Train Member

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    Meals/entertainment are 50% business vs personal, no alcohol unles purchased as a gift for a customer. Last I heard anyway.
     
  9. Ubu

    Ubu Road Train Member

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    He's not asking about business entertainment deductions.

    He's asking about deducting meals on the road as an O/O for himself. He ether keeps all receipts and deduct the actual experiences or he can do the Per Diem deduction.
     
  10. Wespipes

    Wespipes Road Train Member

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    Excatly. I'm thinking the per diem route is gonna be easier
     
  11. Ruthless

    Ruthless Road Train Member

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    I understand that- the bread crumbs I was leaving, while not being explicit, was that x amount of nights out with per diem might be a bunch less than all the receipted meals and entertainment x50% would be. Depends who you are and how you live.
    I don’t sleep in trucks anymore so I don’t get that per diem allowance but I do spend quite a bit on receipted daily expenses on the same front.

    it’s a business decision to make imo
     
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