Tax Question - Page 2 - Truckers' Trucking Forum

		Truckers' Trucking Forum \| Largest Class A Message Board > The Owner Operators' Getaway > Ask An Owner Operator > Trucker Taxes
Tax Question

Truckers' Trucking Forum/Message Board - The Premiere Truck Driver Forum

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.

Page 2 of 2

Thread Tools

Rate Thread

Display Modes

^ Top #11

02.17.2009

Roadmedic

Truck Forum Supporter

Member Since: Apr 2007

Location: Illinois

Trucker? 10 Years

Posts: 9,276

My Trucking Photos: 0

Thanks: 720

Thanked: 1,647 Times

Quote:

Originally Posted by FarvaWS6

I just talked to my accountant about this today. She told me you can deduct 80% of $52 per day if you are out overnight. You have to keep track of where you spent the night each night, so save your log sheets. This is for food and incidentals. You can also claim 80% of $.50 per mile for all unpaid miles as a company driver or lease operator.

The 52.00 is the meals deductions and is subject as you said. It does not include incidentals.

She is incorrect about the unpaid miles as a company driver or lease operator.

You are a cash basis tax payer. You do not declare income until it is received. Therefore, you did not receive the income so there is no need to deduct. A lease owner will receive expense deductions for the fuel and other usage for unpaid miles.

I would not even consider trying this. If you doubt my thoughts, I suggest strongly contacting the IRS directly and presenting it in full to them without names and get confirmation.

Last edited by Roadmedic; 02.17.2009 at 07.30 PM..

Remove This Ad By Registering. Join Our Truck Forum and Trucking Community For Free. Sponsored Links:

Page 2 of 2

Truckers' Trucking Forum/Message Board

« good cpa in maryland area | Tax question »

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)

Thread Tools
Show Printable Version Email this Page
Display Modes	Rate This Thread
Linear Mode Switch to Hybrid Mode Switch to Threaded Mode	Rate This Thread:

Posting Rules
You may not post new threads You may not post replies You may not post attachments You may not edit your posts BB code is On Smilies are On [IMG] code is On HTML code is Off Trackbacks are On Pingbacks are On Refbacks are Off Forum Rules

Similar Threads
Thread	Thread Starter	Trucker Forum	Replies	Last Post
Recession or Depression?	CANNIBAL-MAN	Discuss Your Favorite Trucking Company Here	94	03.11.2009 05.38 AM
owner operator paid $7000 last year. Is this too much?	glhx2	Trucker Taxes	27	02.13.2009 04.01 PM
A billion	Baack	A Discussion About EVERYTHING	0	01.04.2008 01.27 PM
A Billion? !!	Honua Gal	Politics	10	12.02.2007 08.08 PM
Why We Went to Iraq, And why we are still there.	hrdman2luv	Politics	64	10.11.2007 05.40 PM

Trucker Forum Disclaimer: All content, information and opinions (collectively, the "Material") presented on Our Trucker Forum Discussion Board at TheTruckersReport.com are those of the authors of posts and messages (collectively, the "participants") and not The Truckers Report. The Truckers Report does not guarantee the reliability, completeness, accuracy, timeliness or up-to-date-ness of the material presented on the Truck Driver Forum. The material is published "as is," and does not represent the official views and opinions of The Truckers Report or any company. Any reliance upon the Material presented on these forums shall be at User's own risk. The Truckers Report does not review the substance of the content posted by users on these forums and is therefore not responsible for any of such content. The Truckers Forum merely provides a space for its users to express and exchange their own opinions. Privacy Statement.