Girl’s Got Tax Questions…

Discussion in 'Trucker Taxes and Truck Financing' started by Hunte4564, Mar 22, 2023.

  1. Hunte4564

    Hunte4564 Bobtail Member

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    Mar 22, 2023
    Texas
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    Hard working woman just trying to earn my spot out here.. but I’m struggling.

    When I invoice a broker, do I add tax on top of that?
    Or should I be equating that in the agreed rate?
    If so, is the tax rate the broker’s W-9 address or my delivery address of service?

    Yes.. I know.. I should ask an accountant about that.. haha
    But I work hard, and strive to handle as much as possible myself.
    It’s important to me to be a capable human and yes, I am ok relying on men too.

    So here I am 2.5yrs in and neglecting to file bc I just don’t understand it all. I’ve got my books fairly organized, expenses and bank feed understood.. I do almost all my own major repairs.. I find clients through cold calls.. loadboards.. word of mouth.. BUT.. I struggle to understand taxes. I account for all overhead like maintenance/subscriptions/ins/fuel/owner draws.. blah blah.. I’m still afloat, but barely. I’m the driver that follows old school highway etiquette that’s hard to find nowadays.. I pull over to help people.. I wait my turn.. I tarp my loads.. and most importantly I don’t lie in the industry to achieve financial gain. I also don’t kill the spot market rates by taking low figures or cutting corners.

    Could someone please connect with me for a quick moment!? I have some major anxiety around tax obligations. I know I can handle it, I just need a little direction towards what everyone’s doing correct out there. I’m almost completely on my own here and can’t find the right help.

    Thank you in advance!!! ;)
     
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  3. Ridgeline

    Ridgeline Road Train Member

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    Michigan
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    Get an accountant, one that is an EA who can actually represent you with the irs and the court, let them fix the problem and avoid some of the fines. You can not do this by your self.
     
  4. Dave_in_AZ

    Dave_in_AZ Road Train Member

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    I hate agreeing with Ridge, but he is correct. You need an accountant that has the EA endorsement.

    Only an EA can talk to the IRS on your behalf or with you. An EA isn't necessarily a tax attorney.

    The IRS won't just talk to anyone. And no way do you want to go it alone against them. The do not care, and can, and will eat you alive.

    Your much better off getting this squared away sooner than later. Their penalties and interest are worse than owing money to the MOB.
     
  5. Pepper24

    Pepper24 Road Train Member

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    What tax are you talking about adding to a broker invoice?
     
  6. mjv2744

    mjv2744 Light Load Member

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    Oct 2, 2021
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    Are you talking sales tax or income tax?
     
  7. REO6205

    REO6205 Trucker Forum STAFF Staff Member

    12,587
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    Feb 15, 2014
    California.
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    If you haven'y filed your taxes in 2.5 years do what the guys said and contact an EA. Do it now. The longer you go without filing the worse it's going to be when they finally catch you.
    And they will catch you.
     
  8. Lazer

    Lazer Road Train Member

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    Legally you don’t ‘charge tax’ you ‘collect tax’ for a government entity that is authorized to charge. If you are ‘collecting tax’ there are forms you fill out, and remit the ‘collections’ to the appropriate government agency.
     
  9. Hunte4564

    Hunte4564 Bobtail Member

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    Mar 22, 2023
    Texas
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    Thank you! I didn’t know about an EA.
     
  10. Hunte4564

    Hunte4564 Bobtail Member

    7
    8
    Mar 22, 2023
    Texas
    0
    Thank you very much for the response! I’m going to take your advice seriously.
     
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