What can you claim?

Someone else can be a little more specific...

But essentially anything and everything we purchase on the road for us or for the truck counts.

It's a funky formula that we have to use when averaging out how it counts on our taxes. I know the formula is posted here someplace, but I don't think there's an extensive list of what is or isn't tax deductible.

 

Everything related to truck is a write off, parts, maintenace, repairs, accounting expense, phones

 

Food, literally everything.

That being said, if you buy a 50in flatscreen and use it in the truck...that's about the only type thing I'd question as being tax deductible. Main reason being that it's not really a work-related expense because you don't need it to perform your job.

 

I'm disagree.
Good rest time is the key factor for work and safety. So same as PPE the flat screen TV, the escort service, massage is deductible.

 

LOL. Let us know how that works out for you come tax time!

 

Livin' large eh?

 

If it is complicated your best off employing another accountant if you can understand the concepts why not try and do it yourself it just comes down to how much time you have personally you should keep a paper trail of all expenses like receipts if you use your credit card you will have that as a record which is best, Just some things you can claim: Tolls, Phone expense, any travel expense including motels, showers, log books, truck parts, tyres, mechanical repairs, office expenses if you use an office, those are the ones that stand out there are probably alot more.

 

Here's a list that I found a while back, while probably not complete it covers a lot. Hope it helps.....
ACCESS FEES: Internet, Fax, Idle-Aire, Qualcomm, etc.
ADMIN FEES/INTEREST: ATM Fees, Comchek Fees, Comdata Fees, Bank Acct Fees, etc.
ACCOUNTING FEES: Bookkeeping, Tax Prep, Financial Planning
ADVERTISING: Ads of all types plus signage on your truck.
AGENT/BROKER COMMISSIONS
CLAIMS & DAMAGES
COMMUNICATION: Cell Phones, Land Line Phones, etc.
COMPLIANCE: DOT Physicals, Drug Screen,
DUES. PUBLICATIONS & SUBSCRIPTIONS: Profession related.
ENTERTAINMENT: Business related, as in taking a customer, broker, dispatcher, employee out to lunch.
EQUIPMENT REPAIRS & MAINTENANCE: Everything related to maintaining & repairing your equipment. That's a long list, too long to provide details.
INSURANCE: Phys Dam, NTL, Cargo, Liability, Occ/Acc, Deductibles, etc.
LEGAL FEES
MEALS...Per Diem or Actual Costs (per diem preferred in most cases for O/O's)
OFFICE SUPPLIES: Paper, Pens/Pencils/Markers, Folders, Computers, Printers, Scanners, Calculator, Clip Boards, Tablets, Log Books, etc.
OUTSIDE LABOR: Lumpers, Escorts, etc.
PARKING
RENTAL EQUIPMENT: Trucks, Trailers, Fork Lifts, Light Towers, Power Washers, etc.
SHIPPING & POSTAGE: Including things like TripPak and PO Box rental.
SAFETY TOOLS & EQUIPMENT: Alarm/Camera, Anti-Theft Devices
TAXES: Certain taxes, like FHVUT (2290), IFTA
THEFT/LOSS
TRAVEL: Lodging, Car Rental, Showers, Laundry, Air Fare, Train Fare, Cab Fare, etc.
TRUCK SUPPLIES: Bedding, Fridge, Microwave, CB, GPS, Cameras, Television (if used for business for things like watching training videos), Cleaning Supplies, Scrapers, Deicer, Gloves, Personal Protection Gear, all that stuff you carry in the milk crate below the bunk, etc.
TRUCK EQUIPMENT & TOOLS: Tire Chains, Chains/Binders, Straps, Tarps, Load Locks, Tools, Roadside Safety Kit, APU, Placards, etc.
TOLLS, including PrePass, EZ Pass, etc.

 

Depends, company driver or O/O. That said, I'm going through an audit right now, when all is said and done, I plan to write a rant about it as a lesson to drivers. I can tell you that many things on the above list, the IRS will laugh at you, tell you F off, and disallow the deduction. One item I would include on that list, a Tax Atty. familiar with trucking taxes on speed dial.