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This annual notice provides the 2022-2023 special per diem rates for taxpayers to. use in substantiating the amount of ordinary and necessary business expenses incurred. while traveling away from home, specifically (1) the special transportation industry meal. and incidental expenses (M&IE) rates, (2) the rate for the incidental expenses only.
You can choose to use the rates from the 2022 fiscal year per diem tables or the rates from the 2023 fiscal year tables, but you must consistently use the same tables for all travel you are reporting on your income tax return for the year.
20 paź 2023 · Although the IRS has a per diem rate for lodging in other industries, truck drivers are required to claim actual lodging expenses. They cannot claim the per diem rate the way they can with meal expenses.
This annual notice provides the 2021- 2022 special per diem rates for taxpayers to use in substantiating the amount of ordinary and necessary business expenses incurred while traveling away from home, specifically (1) the special transportation industry meal and incidental expenses (M&IE) rates, (2) the rate for the incidental expenses only
30 mar 2022 · For tax purposes, the IRS set the per diem rate for truckers in the continental U.S. at $69 per day from October 1, 2021 through September 30, 2022. This is an increase of $3 from the previous per diem rate that expired on September 30, 2021.
12 lis 2021 · IRS Publishes 2024 Trucker Per Diem Rates (September 25, 2023) Standard Deduction & Personal Exemption The standard deduction for single filers will increase to $12,950, $25,900 for married filing jointly, and $19,400 for head of household.
1. Meals and Lodging Deductions. Long-distance truck drivers (not local drivers), can deduct the cost of food and accommodations incurred while on the road from their annual income tax return.
