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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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  ^ Top   #71  
Old 12.14.2008
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Basically, if it is bought for the truck, used in the truck, I would see no problem with the deduction.

As far as the laundry expense, check out the prices at some of the truck stop machines.


I have professionally prepared tax returns since 1982. I have been an enrolled agent with the IRS since 1986.
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  ^ Top   #72  
Old 12.14.2008
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Quote:
Originally Posted by RR9501 View Post
-------------------------------------------------------------------------
ok
1) why can you not claim your tv that u use in your truck for educational purposes and entertainment as well?

2) explain why you CAN deduct your ATM/Bank fees?

3) how do you estimate $14.00 for laundry services?...you seem to be wearing too many clothes at a time,.,.lol
now i'm home every weekend unless i choose to stay out longer and i do my laundry every weekend when i come home, can i not deduct laundry anyway?
*TVs are regarded as sources of entertainment...I don't think you can claim them for educational purposes. As far as DVD's, you CAN claim them for educational purposes...BUT, I think there might be a limitation to that deduction where you can only claim it if it is educational towards your field that you are in. IE...you can't claim educational dentistry stuff, but maybe management, bookkeeping...etc.

*im not sure on the ATM stuff, but I have heard that you can deduct them...mainly because your job requires you to be away from home and as such, you don't have easy access to money, so you can claim the ATM fees.

*Laundry CAN be expensive and many coin op machines handle smaller loads than what your machine at home can. Its not uncommon to see a washer cost 2-2.50 per load, and dryers cost about 50 cents per 20 minutes usually.

Quote:
Basically, if it is bought for the truck, used in the truck, I would see no problem with the deduction.
I have professionally prepared tax returns since 1982. I have been an enrolled agent with the IRS since 1986.
Well, I listen to a tax accounting geek on Dave Nemos show every week. John Turner is a CPA and in his spare time, goes over tax law. I dont know how many times a week he has to say that the person calling in...Their tax preparer is not that well versed in tax law. Many people, they call in with a question in regards to their taxes, that their tax preparer says is ok, or NOT ok...and he has to counter it, saying its not ok, or it IS ok to deduct.
IE...many people call in with high hopes of buying a spendy cell phone, spendy computer, and all the bells and whistles, thinking they can take it off, legally. However, many times, his answer in regards to this is that it HAS to be used for the business a majority of the time. If you buy a 3 grand laptop, and use it for 20 minutes a week looking for loads and 65 hours surfing the net, that is not a valid deduction.

Now, Im not trying to be sarcastic here and I know that you are a agent...but...just because someone says its ok...that doesnt mean it is.

Case in point...
Quote:
Basically, if it is bought for the truck, used in the truck, I would see no problem with the deduction.
and then what the IRS says as far as education expenses, such as DVD's...
"To be deductible, your expenses must be for education that maintains or improves your job performance or serves the purpose of your employer and is required by the employer or by law to keep your salary, status or job. "
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  ^ Top   #73  
Old 12.20.2008
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thanks i will look into deducting my ATM fees, i dont own a tv in my truck, only a portable dvd player i bought a couple yrs ago, which i should have deducted then but didnt...wasnt aware i could..
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  ^ Top   #74  
Old 12.30.2008
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I would think that if a tv is used to check the weather conditions you'd be able to deduct the expense.
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Originally Posted by Roadmedic View Post
I have professionally prepared tax returns since 1982. I have been an enrolled agent with the IRS since 1986.
Are you still taking on new clients, and do you take clients outside of your state?
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  ^ Top   #75  
Old 12.30.2008
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Originally Posted by PeterbiltCouple View Post
I would think that if a tv is used to check the weather conditions you'd be able to deduct the expense.

Are you still taking on new clients, and do you take clients outside of your state?
I don't solicit clients from this web site since I do not advertise. It is a violation of the agreement.
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  ^ Top   #76  
Old 12.30.2008
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Ah ok. I wasn't thinking about that. Sorry.
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  ^ Top   #77  
Old 12.31.2008
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Quote:
Originally Posted by Roadmedic View Post
I don't solicit clients from this web site since I do not advertise. It is a violation of the agreement.
how much does it cost me to get my taxes done by a tax agent from say R&R Block, or comparible?
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  ^ Top   #78  
Old 12.31.2008
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Originally Posted by RR9501 View Post
how much does it cost me to get my taxes done by a tax agent from say R&R Block, or comparible?
That again is based on the individual.

I charge my clients based on the following:

1. How much work involved.
2. How much work they do and provide.
3. Time spent during the work on the return.
4. Research if needed on the return.
5. Sometimes an error is found on the info they provide and then I have to reconstruct all of the information to properly do the return to my satisfaction.

I will not even guess what anyone's rates are. It depends on the area of the country.

I will strongly state you need to have a tax preparer, enrolled agent, CPA or whatever, that has a strong background in trucking industry. Many preparers have no clues as to the needs of the trucker.
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  ^ Top   #79  
Old 01.01.2009
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Quote:
Originally Posted by Roadmedic View Post
That again is based on the individual.

I charge my clients based on the following:

1. How much work involved.
2. How much work they do and provide.
3. Time spent during the work on the return.
4. Research if needed on the return.
5. Sometimes an error is found on the info they provide and then I have to reconstruct all of the information to properly do the return to my satisfaction.

I will not even guess what anyone's rates are. It depends on the area of the country.

I will strongly state you need to have a tax preparer, enrolled agent, CPA or whatever, that has a strong background in trucking industry. Many preparers have no clues as to the needs of the trucker.
thanks...can u possibly refer me to someone in my area, other then my dad who normally does it...lol...i've always been on a perdiem, now im independant...
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  ^ Top   #80  
Old 01.01.2009
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Quote:
Originally Posted by RR9501 View Post
thanks...can u possibly refer me to someone in my area, other then my dad who normally does it...lol...i've always been on a perdiem, now im independant...
Just check the yellow pages and call around.
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