Tax deductions for company drivers
Discussion in 'Trucker Taxes and Truck Financing' started by sierrawayfarer, Mar 7, 2010.
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animalangel1 Thanks this.
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Ok.... well, I am a little confused about the time thing because he's not here to ask (being gone all the time) and I only get bits and pieces of what he says because I don't understand it yet... I could have sworn he said 36 hours for a reset.... I don't know... But anyway, whatever it is - I just wanted to know about deductions for those days. I'll see if anyone where we get our taxes done is savvy about the trucking industry and their deductions. Thanks!
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animalangel1 and cavemann Thank this.
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Also. keep nights spent in Canada totaled seperately. The per diem rate for Canada is higher. I think it is only 4-5 dollars but, every little bit adds up.
animalangel1 Thanks this. -
I did a thorough itemization yesterday. I had a bunch too. The software kicked out the standard deduction as the best route. It was close though. Usually it's beneficial for me to itemize.
Diogenes and animalangel1 Thank this. -
Read Condo's answer because I think he is correct for a company driver. Your federal taxes have never been lower than they are now. Your standard deduction is going to be greater than your itemized deductions unless you have a slew of other deductions like mortgage, medical expenses, etc.
Don't believe it? Use the TurboTax free online version to get a rough idea of what you'll be getting back from Uncle Sam. Then, if you believe that you'd do better by itemizing, you can always go that route but I seriously doubt that you'll come out ahead.animalangel1 Thanks this. -
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I think the most important thing to remember is................
do your own taxes,
the government needs the money !!!!!!! -
Is your previous employer required to cough up your past year's logs? After I left Central I asked for my final pay statements because I never got anything in the mail and never got any direct deposits after my term date, and they sent me this nice 100 page PDF of my entire year's settlements.
I thanked them and asked if they could send me similar documentation of my logs. They replied, "we can't send you your logs." Why the **** not?! Are they legally required to provide this? They're my logs! BTW they're elogs so I would think it would be just as easy for them as the pay statements.Last edited: Jan 21, 2011
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Every month 400 people find a job with the help of TruckersReport.
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