How to use it
- Enter your yearly expenses. Use your receipts, fuel card statements and bank records. Leave a line at 0 if it does not apply.
- Add your per diem. Count the nights you slept away from home and enter the daily rate. The calculator applies the 80% limit and shows the amount you can deduct.
- Pick your tax bracket. If you are not sure, the quarterly tax calculator gives you an idea.
With the starting values ($97,300 in truck expenses and 200 nights at $80 a day), the deductions add up to $110,100, and the rough tax saving is about $28,769 with a 12% federal bracket and no state tax. They are example numbers, not an average for truckers.
What this calculator does not include
Truck depreciation and other large deductions depend on how you bought the truck and on your whole tax return, so they are left out. Ask a tax professional how to enter them. Read our per diem and deductions guide for the IRS rules behind the numbers.
Frequently asked questions
Is the tax saving exact?
No. It multiplies your deductions by the self-employment tax and your federal and state rates, and assumes you have enough profit to use them all. Your real savings can be lower.
Do I need receipts if I use the per diem?
The special rate replaces keeping every meal receipt, but you still need records of the dates and places of your trips. Ask a tax professional what to keep.
Does this tool save my numbers?
Only in your own browser, so they are there next time. Nothing is sent to our servers.