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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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  #11  
Old 04.13.2008
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Rand McNally has a very inexpensive program called trip maker, I think it's around $30.00

Yes that is a good program Strets and Trips is what it is. I use it every day. Also I used weekly trip sheets that I had designed to suit my needs then I can take the weekly trip sheet take the totals and put it into a spreadsheet program. I have two master spreadsheetsthat I have setup. One for ea quarter mileage, I set the calculations for the totals for ea. state then I also set up another spreadsheet that "copies" the layout of the ifta form. Then for ea quarter I pull up the master for the mileage enter the data from my trip sheets save the copy, then I pull up the second spreedsheet with the ifta info recheck any changes in tax rates transferr all the data fom the current mileage sheet and with my preset calculations the report is done. I save ea spreadsheet as the current qt. and print copies of both sheets then transfer the info to my ifta form. I copy the ifta form and it is done. I have been audited as well and never had any problems.
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  #12  
Old 06.07.2008
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Thats pretty good advice flat topp I work in sc too. I've been told to buy fuel in every state I travel in and that will help from oweing money how do you feel about this. By the way do you haul contains out of the ports I'm not sure where lyman is.
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  #13  
Old 07.08.2008
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I was going to have someone else do my IFTA filings for me, but decided I would try it myself the first quarter. It was so confusing to me, and I even posted asking for advise because I was away from home and couldn't call the FL office. But I finally got in touch with someone who walked me through it and I completed the forms. It was all new to me, so I was quite stressed by the time I was done.

I don't remember things like this easily, so instead of doing it by hand each quarter or buying a program, I put a spreadsheet together of my own that would calculate everything for me. At the end of each week I input the driver's numbers, which are then automatically calculated with totals. And those totals are also calculated in the end-of-quarter sheet. In a duplicate (dummy) file I can also input fictitious numbers just to see what kind of totals we'd end up with.

I made up the spreadsheet to take care of an entire year, week by week, with separate end-of-quarter totals. I set it up to pretty much mimic the paper form so I could then quickly transfer all the numbers directly onto the paper form I got in the mail and be done with it.

With this method we can see at a glance how we're doing. If the totals show that we are going to owe, then we try to offset that by getting more fuel in another state before the end of the quarter.

This quarter I had 6 states to work with, including one that has a surcharge. Interestingly, we ended up owing 20 cents! And because we had a 20 cent credit from the previous quarter, we zeroed out on this quarter's total.

I'd be happy to share it with anyone interested if they think it would help them.
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  #14  
Old 07.08.2008
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Google search "IFTA fuel tax reporting software"

I think if I get my own truck and lease onto a carrier, I'll ask to be taken off the network and just use a product.
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