IRS Increase The Per Diem To $59
Posted On October 30, 2009
Angie Bruskotter, marketing director for ATBS, a Colorado-based owner-operator financial services provider has confirmed today that IRS (Internal Revenue Service ) has increased the per diem amount which the truckers may deduct as expenses for Income Tax calculations.
It has been confirmed that the per diem charge to cover food while working on the roads increased to $59 per day. It was initially slated for a $ 52 allowance. It is still permissible for the truckers to deduct 80% while would now result at $47.20 as per the current rate.
This deduction helps in lowering your net income. The individual is then taxed at the nett income bracket. For most owners or operators of the truck, it would be 15 % or 25 % at the Federal Level.
IRS has clearly mentioned that the per Diem expenses for the first nine months of 2009 will be calculated at $52 per day.
