Rawze's beer-belly shade tree Tax Advice...

[Rawze]

I am not a tax professional but I do help a LOT of people with their taxes,...


The primary reason for keeping receipts, etc. is for tax purposes, and to avoid paying too much, or penalties. That being said,...

Just some simple advice on Taxes here from a non-professional idiot like myself ...

the IRS does not give a s#$t about your receipts for last week,... last month,... or how well or sloppy you or have them organized. They could care less what type of system you have, elaborate or simple,...... They only want to know one thing during an audit!,... They want to know how you arrived at the totals that are listed on your schedule-C and other official tax forms that you submitted for your business!,.. Here is a typical question,...

AUDITOR: "On your schedule-C, You stated that you spent $16,765.99 on "Tools and Equipment" according to your schedule-C,... Can you please prove that with receipts?"



Now,... If your the typical trucker who has taken advice from a MORON tax person ,... then your actions and answer will be something like...

(You flip open your box for that year,... then you pull out 12, or perhaps 40, or more envelopes from a box,... then fumble through them,.. and pull out a total sheet,.. but the total sheet does not have the actual receipts attached, mmm.. sooo,.,... .. you start pulling receipts from each envelope, ,... trying to match them up as "tools and Equipment",.. and fumble some more,.. because you have little or no clue witch ones you claimed in each weeks envelope to that actual category ...)

"Ummm.,.. Let me add up the totals across all my envelopes,... oh wait,... I got to get out all the receipts for that category to each months folder,.. hang on,... ,,... oh wait,.. let me add them up again,....,.. I think these were some tools here,... and here,... and here,...,.. and I am not sure about this one, but I think its a tool too ..."


This is a VERY WRONG THING TO DO IN FRONT OF AN AUDITOR!!!,... You are loosing that battle VERY QUICKLY!


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Now,... You did your taxes like Rawze does his taxes,... Like AN ACTUAL AUDITOR WOULD LIKE TO SEE THEM DONE!!!!,.. Then your actions and answer will be something like...

(You flip open your box for that year,... Then you thumb to the tab labeled ... "Tools and Equipment",... Then you pull out the pre-stapled (or clipped together) document that is a collection of ALL the receipts for that category FOR THE ENTIRE YEAR,... with a PAPER-TAPE TOTAL clipped to the top,.. showing, clearly,.. the total for the entire stack,... and it matches already,... the exact amount you claimed,... and You say...)

"Here you go Mr. Tax man,.. There is a paper-tape total at the top,... and your welcome to thumb through the receipts to verify them if you like" ... ... ... "Would you like see any of the others?

As he thumbs roughly through the receipts, to verify there are no items that should not be claimed in there,.. he will reply "I wish more people would file their taxes this way,.. it is so much easier",... "Thank You Mr. Rawze,... That will be all".




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You see,.. At the end of it all,.. At the end of the day,.. The ONLY REASON to keep that information IS for that tax Auditor,.. Like you state,.. Not for your book keeper, or CPA, or anyone else for that matter really. -- But the question I have to everyone,..is WHY,.. for the life of me DO THEY MAKE IT SO DIFFICULT FOR THEMSELVES TO SATISFY THOSE SIMPLE QUESTIONS!!!?,... There IS no place on a tax form to staple all your receipts to,.. there IS no place on a tax form to list what you did last month,.. or last week,.. When you actually file your taxes,... They DON'T SEE your books,.. and profit statements,.. and all the other over-zealous crap people put on themselves for tax purposes,.. and THEY DON'T CARE!,...

ALL they want to know,.. is HOW you got that number on that tax form!,... Thats IT!.


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You should have AT MOST!,... 10-12 Categories on your Schedule-C document for your business!,... This MEANS!!!,... You should have those SAME 10-12 categories in a box to throw receipts into that somewhat match this!,... It is NOT rocket science!!!!,.. There is NO FREGGIN' REASON to pay an accountant for this,.. ACCOUNTANTS AND CPA's USE THIS AS A SCARE TACTIC to scare you into paying them, instead of doing it yourself. ... ... CPA's and Accountants are almost always UNNECESSARY for a single truck owner!

when it comes to actually putting your money where your mouth is in front of an Auditor,... SIMPLY HAVE THE RIGHT INFORMATION TO PROVE YOUR TAX DOCUMENTS,.. Organized THE SAME EXACT WAY as thay are on your tax documents! .. NOTHING MORE!

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This is the LAZIEST WAY POSSIBLE!,.. to do your own taxes,.. and ensure they are 100% right, organized, and correct for an audit!,.. This is how I do them,...

I dump all my receipts into a gallon-size zip-lock freezer baggie that I keep on the dash of the truck,.. that way I can just throw shi#t in there. If I think i can claim it,.. I put it in there! When it gets kinda full,.. I GET A NEW ONE,.. and take the other one out of the truck, or put it away somewhere. That is all I do ALL YEAR LONG -- Seriously!.

Come February, or march, of the next year,.. I dump out ALL that crap I want to claim out onto a table or my the bed,.. I go to officemax and make up a simple box that has ALL 10-12 categories tabbed out with those stupid green file-folders,... then I go through them one at a time and dump them into the category that best fits that receipt (it does not have to be perfect, as long as it is somewhat close). On those receipts that I can't decide what category?,.. I simply dump it in one without a second thought,.. It really does NOT MATTER SO MUCH!.

I DON'T EVEN BOTHER for online purchases / receipts throughout the year !! -- I Simply go back to amazon, etc. or wherever sites I made most of my purchases and print them all out at once and sort them into the categories all at once while doing the rest of the receipts after the end of the year.

When I finish that,.. I have organized my taxes for THE ENTIRE YEAR!,.. It takes about 1-2 hours,.. give or take, depending on how much crap I had to go through. Anything I cannot claim --- I throw away or put it somewhere else. You can't claim them, there is no need for them to be in that box!.

Next,... because I have a fuel card from the fleet that I am leased onto .. I THROW AWAY ALL my fuel receipts!,.. Yup,... you heard me,.. This IS ONE OF THE BIGGEST MISTAKES THAT TRUCK OWNERS DO!!!,... VERY FEW TRUCK OWNERS ACTUALLY PAY FOR FUEL DIRECTLY OUT OF THEIR OWN POCKETS DIRECTLY!

--- DID YOU PAY FOR THAT FUEL OUT OF YOUR OWN POCKET?,.. WITH CASH OR YOUR CREDIT CARD FROM YOUR BANK? ... AT THE TIME OF SALE?,.. WHILE YOU WERE PUMPING IT?,

... For most O/Os that are leased onto a carrier, then Most Likely NOT!.,... Most O/O's use a com-data, or other fuel card when they fuel,.. Your not paying for that fuel -- COMM-DATA IS!- And they are claiming it too!. THIS MONEY for fuel IS DEDUCTED FROM YOUR SETTLEMENT CHECK, NOT YOUR BANK ACCOUNT!!!! ... If so,.. THOSE RECEIPTS ARE USELESS FOR ANY TAX PURPOSES!!! .... COM-DATA PAID FOR THAT FUEL,.. NOT YOU!,... AND IF YOU CLAIM THOSE AMOUNTS!!!,.. FROM THOSE RECEIPTS,... YOU WILL FAIL AN AUDIT HANDS DOWN!!!, and be back-taxed for tens of thousands of dollars in fuel receipts.


(now everyone is saying/asking but,... but,.. so keep reading...).

EVERYTHING WHATSOEVER!!!!,... EVERYTHING!,.. NO MATTER WHAT IT WAS,.. that has been deducted from your Settlement,... This is simple as PIE! == GROSS PAY this week,.. MINUS WHAT THEY ACTUALLY DEPOSITED INTO YOUR BANK ACCOUNT!!!,... Guess what! -- That difference --- IS ALL 100% TAX DEDUCTIBLE! AND INCLUDED FUEL TAKEN OUT TOO!. EVERYTHING TAKEN OUT IS AN EXPENSE,... EVERYTHING!

BECAUSE all deductions are A LOSS TO YOUR BUSINESS!!!!,... Insurance, lease payments, FUEL DEDUCTIONS,.. Health Insurance, Truck Insurance,.. ADVANCES TO YOUR COM-DATA (where you WERE LATER charged for that fuel you used),.. LITERALLY EVERYTHING THAT HAS BEEN TAKEN OUT!!! ... IS AN EXPENSE CALLED -- SETTLEMENT EXPENSE!,.. and goes directly on your Schedule-C, as a custom category called "Settlement Expense".

Like I said,.. STOP making taxes so damn complicated!,.. Stop trying to separate everything,.. It is a WASTE OF TIME! --- IT IS DEAD SIMPLE!!!

-- Now someone is saying,.. BUT what about the money left over on my com-data card?,.. WELL,... IF YOU USE THAT MONEY ON YOUR COM-DATA CARD to buy groceries,... Or NON tax-deductible items!,.. Then you MUST ALSO CLAIM that portion you withdrew from the card for those things as additional income!,... Separate from your settlement. AGAIN!- simple!.

To make it even easier -- That is WHY I tell people NOT to use their com-data card like a credit card,... to buy food, and crap they cannot claim! .. Not only that, but the fees are TOO HIGH for those stinkin' things!. GET A BUSINESS CHECKING ACCOUNT AND HAVE YOUR SETTLEMENT PAY DEPOSITED THERE INSTEAD!.

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LASTLY:,... If you ever get audited!!!!,.. FOR THOSE COMPLETE IDIOTS!!!!,... WHO CLAIM THEY MADE ZERO,... AND PAY ZERO TAXES<.,.. BECAUSE THEIR TAX PERSON IS SOOOOO GOOD!!!,... (yeah right),.....

YOU ARE SCREWING YOURSELF AND YOUR TAX PREPARER IS SCREWING YOU TOO!!... That tax preparer HAS NO RESPONSIBLY WHATSOEVER towards your taxes being correct!,.. NONE,.. and they will NOT be paying your fines,,.. YOU WILL BE RESPONSIBLE for your tax preparers bad ways! ... HERE Is WHY!...

When the Mr. Tax Auditor sees that you had so many deductions that you made nothing,.. a tax auditor will then simply point to YOUR BANK ACCOUNT STATEMENTS DIRECTLY!!!,... FROM YOUR BANK!!!!<.. and say "Ehemm,... If you made no money,.. HOW DID YOU PAY YOUR ELECTRIC BILL?,... YOUR WATER BILL?,... YOUR GROCERIES AT WAL-MART??? YOUR RENT/MORTGAGE?,.. THAT MOTORCYCLE PAYMENT?,.. THAT CAR PAYMENT?,...

ON AND ON AND ON HE WILL GO,...ADDING UP ALL THAT MONEY,.. YOU STILL OWE TAXES ON!!!!!

By the time he gets done with you,... you will need to hire a lawyer to get out of that hole!,.. And you will be screwed paying the tax man or the lawyer one way or the other!.

TAX AUDITORS ARE NOT STUPID!

DO YOUR TAXES THE RIGHT WAY!!!,... CLAIM ALL YOU POSSIBLY CAN,... AND ALWAYS SEPARATE WHAT YOU BUY as groceries AT WAL-MART, etc. from what you buy for your truck!. PAY FOR THEM SEPARATELY TOO!!!>>... Oil is tax deductible,.. Underwear for you to wear in your truck is tax deductible!,... your shoes,.. Toilet-paper, paper-towels!,.. Bottled Water, soap, laundry detergent,.. CB Radio, Stereo, Tools, Light Bulbs (assuming you will use them to work on your truck with at night lol) DAMN NEAR EVERYTHING -- really! -- except food itself!,.. as long as you can come up with some excuse to yourself to ACTUALLY NEED that stuff for your truck, either directly, or indirectly!... Even if that is not what you ended up using it for, but hopefully you did.

For all you cash guys who think they are getting away with hiding their income etc...

NEVER PAY CASH for something that can be deducted from your business!,.. YUP, you heard me!,.. NEVER,... if you can help it,... THERE ARE BIG SUPERCOMPUTER FARMS that the IRS uses to track cash transactions!,.. They track cash like a hawk!,... And If your running around using cash all the time,.. and your receipts that you use to claim items like new brake shoes, or that toilet paper,.. or those engine parts from the dealer,... Will FLAG those stinkin' machines and make them start crunching numbers to find out WHERE YOU GOT THAT CASH FROM!,.. and if there is no record of deduction from your bank for it,.. or your ATM machine for it,.. THEN SOMEONE PAID YOU UNDER THE TABLE!!!,.. is exactly WHAT it will assume!.

If someone does give you cash,... SPEND IT AS CASH!,... but NOT on anything that lands your name on the receipt,.. and DEFINATLEY NOT anything you can claim against your taxes,... THIS MEANS NOT USING IT TO PAY FOR EXPENSIVE REPAIRS!!!,.. ETC> -- THE NEW Obama-Scare ACT,.. REQUIRES!!!,.. that ALL cash transactions ABOVE 1,000 dollars, have a 1099 form attached to them. This means that legally, you are supposed to 1099 ANYONE you paid more then 1,000 dollars cash to in a years time,.. including those damn dealers for those damn repairs and part you purchased!,... AVOID THIS by using a check card,.. 1099 It is not required if you use a credit or check card.... BECAUSE THE SUPERCOMPUTERS CAN TRACK IT PROPERLY to match what you have claimed on your tax form.


Want avoid Audits?,.. trouble?,.. DON'T USE CASH ALL THE DAMN TIME, then go around trying to claim receipts against it!!!. <== Bad move!.

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Tens of thousands of people get electronically audited every year,... when they have used electronic forms of payment,.. and it somewhat matches what they have claimed on their tax forms,.. the IRS does NOT BOTHER WITH THEM!, but ANYONE pushing cash around all the damn time,... is ALWAYS a direct target.

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Back to Taxes...

Do up your own categories,.. make them match a Schedule-C,... and do it yourself!. At the end of the year,.. PAY SOMEONE ELSE to file your 1040, etc,.. and schedule-C's,.. Nothing more!,.. No need for CPA's,.. no need for Accountants,..etc,. It is simple as pie.,... and the reason you want to pay someone ELSE to do the final tax documents, is because it ensures those documents are correct... AND it is a fall-back to actually getting audited. But DON'T JUST GO TO ANYONE!!!!,.. Here is what you should look for in a tax preparer...

*** FIRST AND FOREMOST!!!!<>>> They MUST be open all year round.

*** They MUST be well versed in already dealing with tax Audits,.. AT THEIR FACILITY!<>>> FOR THEIR CLIENTS!,.. here is why,...

You get that phone call,. or letter,.. inquiring for that tax audit!,.. And a request to where it should take place,... You NEVER NEVER NEVER,.. EVER,.. HAVE A TAX AUDITOR come to your HOME or BUSINESS!... You send them to your tax preparers office (hence open all year round). Also, your tax person will likely already know the IRS agent,.. and has seen them before. This gives you some serious advantages if you think there might be a problem. Second,.. is the fact that you don't want them at your home, snooping around. That is what they will DO!... It is their JOB to get curious about how much you own,.. what kind of car, boat, motorcycle,.. newly purchased lawnmower,...etc etc. etc.. You don't want a tax agent picking you apart because of what they see in your home and yard. -- YOU DON'T WANT THEM AT YOUR HOUSE!.

*** NEXT, is to find someone that KNOWS HOW TO DEPRECIATE TRUCKS PROPERLY!<>>> MOST DO NOT!!!

Here is the scenario,...

You just Leased/purchased a truck,.. the title is still in the leasing companies name...

Lease company X is DEPRECIATING THAT TRUCK against THEIR TAXES,,.. THEY HAVE THE RIGHT TO,.. IT STILL BELONGS TO THEM, THEY HOLD THE TITLE!<.. NOT YOU!!!,... yet,.. your tax preparer is too stupid to know this,.. and offers to depreciate your new purchase over the next 3 years,.. only NOW,.. 2 COMPANIES ARE DEPRECIATING THE TRUCK (Yours and Theirs).. SEPARATELY,.. !!!,...WRONG!!!!,... The title-Owner is the only one able to claim depreciation on it!.

Next,.. YOU ARE GETTING SCREWED!,.. Not only are you now evading taxes on that amount of money,,.. and will owe it back if you DO get audited,.. but there is another problem,... and that is ...

Maybe even if your tax person knows not to depreciate your truck because he knows you don't have the title in your name yet,... and does not claim depreciation on the truck until its in your name,.. that IS what is supposed to be done,.. BUT,... the truck depreciation will only be worth what is LEFT on the truck after the leasing company has finished,.. and after 3 years (thats why they all want 3 year leases),.. there IS nothing left!... You cannot Depreciate an item TWICE!,... It doesn't just start over,.. from new,.. because you now purchased it,.. and since you claimed all the money off your settlement from paying it off (the truck payments),.. you are now at ZERO! (or only at the final balloon payment worth),.. at the end of 3 years legally!.

What a mess eh?,... but thats the law!,.. although,.. there IS a way around this!... but VERY VERY FEW tax preparers know how!,...

Here it is:,... YOU LIST IT WITH THE IRS,.. AT THE TIME OF PURCHASE,.. THAT SAME AMOUNT the truck's total purchase price was for that lease, as a depreciable item,.. but you put a hold on its depreciation,.. This means that you DO NOT claim it against your taxes yet but it is listed. You then pay on your truck the full term (or pay it off early if you like),.. and claim ALL the money like you should "settlement expense should contain your lease payment along with everything else",.. and at the end,.. when the title IS now in your name,.. guess what !!!,... YOU START THE DEPRECIATION!!!,.. AND YOU CAN DEDUCT THE WHOLE WORTH OF WHAT YOU PURCHASED OVER THE FOLLOWING 3 YEARS AFTER PAYING IT OFF!!!,.. giving you a very nice tax break,.. because you waited until it was actually in your mane, like your legally supposed to,.. but it was listed the whole time as being there,,.. with the original amount!@,..

You end up with a LOT more claimed against the truck, than ANY OTHER METHOD that is actually legal!.
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Another problem with claiming depreciation from the start is that you get screwed up front,.. while your making lease payments, like most tax preparers do this mistakenly. After your done making payments --- There is nothing left to claim!,... Your done!,.. and you end up with a huge jump in taxes owed when its paid off!,... This is not a good thing. Taxes go UP not down!. YOUR GETTING SCREWED!.

[Rawze]

(01-05-2016 )yamajason Wrote:  When a business hires a business consultant for advice, it is tax deductible. Are rawze.com donations tax deductible?

I am not a NPO (non-profit Organization),.. I pay taxes on all the money sent to me through the donate button. That is the way it should be. I claim taxes on the money, and this also allows people who donate to deduct it form their expenses as well.

Yes, donations through my donate button are tax deductible if you have a paypal reciept,.,. But you cannot file them as 'non-profit' donations. File them under consulting, or legal and professional instead. They are used to help pay for the $760/month it costs to run the forum and YES, I pay taxes on the money people donate. You have full right to claim what you send me against yours.

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[Rawze]

(01-06-2016 )Bulljammer Wrote:  What do you do when FMCSA comes knocking and they want those supporting documents stapled to the daily logs they go with, and yes I do know of an auditor that wanted them like that! Plus, certain documents must only be kept for 6 months, anything you hand the auditor is fair game in an inspection, better have a quick way to organize things if you get your 48 hour notice on an inspection.

Then I would suggest you make a second copy of those receipts that apply and file them with your daily logs if it is important to satisfy them in that way. It is a prime example on how different agencies want to see things their own way. You gotta love our wonderful system of government.

Come to think of it, that would be a good use of those fuel receipts that you can't claim that I mentioned above.

[Rawze]

?? Wrote:What about LLC for taxes and liability protection?

Actually, if you are the truck owner,. and you are driving the truck,.. or even in the vicinity of the truck,.. or even if you have a driver, and you tell them what road to take,.. Setting yourself up as an LLC offers no liability protection whatsoever!. It is tax headache, and a complete waste of time and money for most truck owners! -- If something bad were to happen,.. there is no veil of protection whatsoever, unless your sitting in an office somewhere and have hired drivers that are sub-contractors.

LLC is mostly just another way for your tax preparer to STEAL YOUR MONEY by charging you higher rates to do your taxes!. What you pay in higher fees to them for keeping after it for you, by the time you add it all up,.. you are no further ahead!.

[Rawze]

(02-10-2016 )skydog Wrote:  So if I have one truck and I'm the driver and the owner with my own authority , I should just be a sole proprietor and avoid being LLC or an S Corp. ?The preparer I have an appointment with told me I should become a s Corp , that it would save me money and be more secure from jeopardizing my home in case something bad happens . I was wondering if he was just trying to make more money for himself. Appreciate any feedback .

Depending on the size of your business, any tax benefits of an S corporation may be offset by the additional costs of filing the extra tax forms. There is quite often higher costs to being an s-corp, where your tax preparer will make a lot more money than you have saved if you had been a sole proprietor. - The only way to know this, is to be sole proprietor for about 3 years first,.. then consider the differences,.. after that, you can make better decisions by going back and looking at what you made,.. and what the differences would have saved you.

I do not recommend s-corp for anyone that is starting out,.. or does not have some years of serious income to compare it to.



There is NO AMOUINT OF PROTECTION, s-corp, LLC, NOTHING! -- protecting you if you are also the one driving the truck,. or if you are the one who told the driver what route to take,.. or if you are in a car behind that truck when something bad happens... YOU are the direct controlling factor to what that truck did at that moment... The whole LLC/corp protection thing is a sham in the trucking industry if your also the one driving the truck!. -- Go ask a lawyer who sues truckers and you will get your answer real fast.

Don't listen to a tax advisor about legal matters,.. ask a lawyer. -- Thats what I did,.. he laughed, and told me things like dirty tricks the lawyers do like pulling security cameras from truck-stops to see if you were actually in your truck for 10 hours, or inside watching TV... and things like pulling highway cameras to see if you were where you say you are on your log books,... There is no hiding from this stuff when something bad happens,.. ask Aleks's dad about that!. --his logs were off by 30 min (highway cameras did not match) and they denied all insurance claims and left him out to dry,.. even though he was NOT AT FAULT!. -- he lost everything in that I-80 accident including his truck.

There are so many trucks running and fudging their logs it isn't funny,.. EVERYONE who does this,.. might as well throw their truck and liability insurance out the window and into the trash can!. --- Not tryign to promote them,.. but Accurate E-logs contribute greatly towards stopping this,.. and stop the insurance companies form ripping us off so easily.

[Coco620]

I used to have six trucks & my acct set me up as an s corp, am I better off disolving that s-corp Rawze? I only have one truck now & drive it myself.

[Rawze]

(03-29-2016 )Coco620 Wrote:  I used to have six trucks & my acct set me up as an s corp, am I better off disolving that s-corp Rawze? I only have one truck now & drive it myself.

If your already there, to answer that, you should crunch the numbers for the last year you were in business for a full year by yourself and see what is cheaper. Find out how much more it is costs you to have the taxes done by your tax person compared to just being sole-prop and having someone do it. Factor that in as well. Then you will now the answer.

[DrivingZiggy]

(03-29-2016 )Rawze Wrote:  Depending on the size of your business, any tax benefits of an S corporation may be offset by the additional costs of filing the extra tax forms.

(03-29-2016 )Coco620 Wrote:  I used to have six trucks & my acct set me up as an s corp, am I better off disolving that s-corp Rawze? I only have one truck now & drive it myself.

I incorporated Subchapter S on the advice of my CPA (at the time). His reasoning was that he'd had clients who had been audited, but every client who was incorporated had never been audited. I subsequently fired him after he tried to charge me for phone calls that happened 3 years prior. That's the kind of guy he is, so I have to second-guess his advice to incorporate.

(03-29-2016 )Rawze Wrote:  There is NO AMOUINT OF PROTECTION, s-corp, LLC, NOTHING! -- protecting you if you are also the one driving the truck,. or if you are the one who told the driver what route to take,.. or if you are in a car behind that truck when something bad happens... YOU are the direct controlling factor to what that truck did at that moment... The whole LLC/corp protection thing is a sham in the trucking industry if your also the one driving the truck!. -- Go ask a lawyer who sues truckers and you will get your answer real fast.

The uselessness of incorporating was explained to me this way: When there's an accident, they sue the corporation. But then they also sue the driver, and if you're the driver you're being sued anyway. So in the case of a one-man operation, there really is no protection.

Subsequently, I've been incorporated since 1999. I've bought an old KW, a new Freightliner, 2 new Volvos, and a couple of trailers. In ALL instances the finance companies still required my "personal guarantee" on all of the loans. So there's no protection there, either.

And another thing: You can no longer claim the meal per-diem. You have to keep the actual receipts for any meals where you discuss your business and you can only claim groceries that you buy while on the road.

[Rawze]

(04-02-2016 )DrivingZiggy Wrote:  And another thing: You can no longer claim the meal per-diem. You have to keep the actual receipts for any meals where you discuss your business and you can only claim groceries that you buy while on the road.

That is some bad info. There is always a way to claim prer-diem against your income if your out on the road away from home -- copr or not. Someone is screwing you on that one big time.

Though you can only claim it against your personal income -- As an employee of other companies I was able to claim pre-diem,.. and Even when I was a contractor for a major corp,.. I still claimed pre-diem. It is something personal, and has nothing whatsoever to do with corporate entities, types, titles, etc.

i think you need to go back and re-do the last 3 years of taxes and get your money back. you likely have missed out on tens of thousands by now from the moron of a tax person who gave you that bad advice!.