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Thank you for your question. My name is XXXXX XXXXX I will be happy to assist today
The per diem you are speaking about would be taxable, but you could deduct of course your expenses incurred such as mileage, meals with a business purpose, business travel, etc
You will need to verify that the amount is not showing up on your 1099, and then add that to your gross receipts on your schedule C
See item #6 on THIS IRS PUBLICATION
Per diems are taxable when a flat amount is given, but no expense report is required.
Do you have further questions about this matter?
I'll be able to deduct my gas as part of my expense? Can you give me an idea what else I can deduct as part of being an idependent contractor?
You can either deduct the actual cost of keeping your vehicle up, or the standard mileage rate. Over time, the standard mileage rate will give you a larger deduction.
You can deduct any cost you incur in relation to your work as an independent contractor. Ordinary and necessary expenses
You cannot deduct your meals, unless they have a business purpose. Grabbing lunch between clients would not be a business purpose, but taking a client out would be
Do you recommend having an expert do my taxes this year (this is my first year as a contractor), i've been doing my taxes for a while now from w2's using turbotax
You could do it yourself using TurboTax, but I would have a professional do it your first year at least so that you can see which schedules are necessary. It shouldn't cost you too much, maybe a couple hundred dollars
You're welcome. Is there anything else I can assist you with today?
No thats it. thanks again