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Airboss said:Lets say company TAFB is 80 hrs. 80*$1.50(ASA company rate) = 120
$229-$120=$109 on ONE 4 day trip is tax deductable.
Add up the whole year's difference and multiply by 0.75 (transportation industry rate) and that is tax deductable.
Why do you multiply the whole year's difference by .75 to get your actual deduction? I thought you could deduct 100% of the difference...
75% deduction of meal expenses: IRS publication 463 page 12 left hand column under "individuals subject to "hours of service" limitations"