What is the trucker per-diem?

It's a standard daily deduction for meals and incidental expenses while away from home overnight for work. The IRS sets special per-diem rates for the transportation industry; see Publication 463 and current IRS notices.

How much should I set aside for taxes?

Many owner-operators reserve a set percentage of each settlement (self-employment plus income tax) so quarterly estimates are covered. A tax pro can size the percentage to your situation.

Recordkeeping & Taxes

The records owner-operators must keep, the deductions you shouldn't miss, and how to stay ready for tax time.

Key Facts

The IRS expects records substantiating every business expense — capture receipts as you go.
Self-employed drivers generally pay estimated taxes quarterly.
Per-diem for meals on the road is a major deduction — see IRS Publication 463.
Good monthly records turn tax time from a scramble into a filing.

Keep the receipts

The IRS expects records for every business expense — fuel, repairs, tolls, permits, supplies, lodging. Capture receipts as you go; reconstructing a year of paper in April is how deductions get lost.

Don't miss these deductions

Per-diem for meals on the road (IRS Publication 463)
Fuel and DEF
Repairs, tires, and maintenance
Insurance, permits, and licensing
Truck depreciation or lease payments
Phone, ELD, and load-board subscriptions

Quarterly taxes

As a self-employed driver you generally pay estimated taxes quarterly. Setting aside a percentage of every settlement keeps you from a nasty surprise — and good monthly records make the filing easy.

Frequently Asked Questions

What is the trucker per-diem?: It's a standard daily deduction for meals and incidental expenses while away from home overnight for work. The IRS sets special per-diem rates for the transportation industry; see Publication 463 and current IRS notices.
How much should I set aside for taxes?: Many owner-operators reserve a set percentage of each settlement (self-employment plus income tax) so quarterly estimates are covered. A tax pro can size the percentage to your situation.