The last year I drove as an owner/operator,and had my taxes done I gave the man my book that I carried in the truck to document every thing I bought from the smallest item up to the largest. He told me that he hadn't seen an expense to profit ratio that good by anyone in years. I had 70/30% ratio. 70% expenses to 30% profit. I know it doesn't sound like a lot,but it was better than going broke. He wanted to know my secret as my fuel to run ratio was very low. I told him I had learned from the ol' timers years ago. The principles are still the same.
My tax man was very suprised.
Discussion in 'Trucker Taxes and Truck Financing' started by Ron W, Sep 26, 2010.