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Trucker Taxes Discuss taxes specifically related to truckers and the trucking industry here. Owner Operators have some hard decisions when it comes to tax time, but so do company truck drivers. Give us your hints here! STOP Uncle Sam from ravaging your wallet.

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Old 03.10.2008
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Sorry Roadmedic maybe I should have been more specific. I order from a uniform supplier.(can have our logo done cheaper locally). As this is not considered personal clothing i e you wouldn't wear a Mc Donalds uniform for daily wear at home my cpa says this qualifies. Am I wrong? Not being a smarta$$ just trying to help.
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  ^ Top   #32  
Old 03.10.2008
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I used ATBS for last years taxes, never used them before so, I'm not sure how good they are but when they finish them I will let you know how much I owe that penny pinchin UNCLE SAM!
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  ^ Top   #33  
Old 03.10.2008
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Originally Posted by raindancer View Post
Sorry Roadmedic maybe I should have been more specific. I order from a uniform supplier.(can have our logo done cheaper locally). As this is not considered personal clothing i e you wouldn't wear a Mc Donalds uniform for daily wear at home my cpa says this qualifies. Am I wrong? Not being a smarta$$ just trying to help.
I have no problem with uniforms. I was just elaborating on the ordinary clothes.
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  ^ Top   #34  
Old 06.28.2008
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It's to bad you can't deduct your lease payment or can you?

Be Safe and Have Fun !!!
Nick
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  ^ Top   #35  
Old 07.24.2008
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HELP! My husband is very concerned that our taxes aren't correct. We were told if we wrote off the expenses of the truck.... ie Lease Truck payments, maintenance, INS, etc..... we couldn't write off the FUEL. Is that correct??? He thinks we should be able to do both as they are all actual expenses of running the business.
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  ^ Top   #36  
Old 07.24.2008
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Originally Posted by AlohaWolfana View Post
HELP! My husband is very concerned that our taxes aren't correct. We were told if we wrote off the expenses of the truck.... ie Lease Truck payments, maintenance, INS, etc..... we couldn't write off the FUEL. Is that correct??? He thinks we should be able to do both as they are all actual expenses of running the business.
If you paid for the fuel then you can write it off
Being thats your number one expense it should help Allot!!!!
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  ^ Top   #37  
Old 07.24.2008
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Mahalo Baack.... our concern is we had a financial advisor do our taxes. He's good in his field, but he doesn't specialize in TRUCKERS. Now, he knows a lot more about things than we do.... but, the fuel issue just didn't sit well with my husband and myself. So, let me add this as well... incase that is where he was coming from. Do you write off your mileage or your fuel? Our fuel alone was about 47k... he's showing a 51k write off and we had 103k in mileage. I have a call into him, just anxious looking for some help from those in the business. Again, thanks!
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  ^ Top   #38  
Old 07.24.2008
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Originally Posted by AlohaWolfana View Post
Mahalo Baack.... our concern is we had a financial advisor do our taxes. He's good in his field, but he doesn't specialize in TRUCKERS. Now, he knows a lot more about things than we do.... but, the fuel issue just didn't sit well with my husband and myself. So, let me add this as well... incase that is where he was coming from. Do you write off your mileage or your fuel? Our fuel alone was about 47k... he's showing a 51k write off and we had 103k in mileage. I have a call into him, just anxious looking for some help from those in the business. Again, thanks!
In our company trucks we have the choice to write off the mileage but not the fuel, the problem with that is you then cant write off repairs and such
Because we run older vehicles we write off all our expenses including fuel
Just cant do both
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  ^ Top   #39  
Old 07.24.2008
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Mahalo Baack.... appreciate your feedback! Have a great day!!!
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  ^ Top   #40  
Old 07.24.2008
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In our company trucks we have the choice to write off the mileage but not the fuel, the problem with that is you then cant write off repairs and such
Because we run older vehicles we write off all our expenses including fuel
Just cant do both

What kind of trucks? The IRS has guidelines that restrict the mileage deductions.
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