TAX SAVINGS, over 600 per week deductible from your paycheck
Discussion in 'Ask An Owner Operator' started by SFLTRKBIZ, Jul 14, 2016.
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That is one of stupidest statements I've ever herd "Pay a little extra" , I heard a few sheeple say the same thing.
Why give them anything extra or anything you can deduct? You have to be one of the ones who said CSA would make us safer and elogs aren't that bad ? I had driver tell me once he wasn't making no money but paid FICA anyway so he would have a bigger social security check, I laughed.
You can live decently on ten grand a year after deductions and can be done if you plan your business ahead.
If you feel the need to give away money I can send you my paypal link ? Anytime I hear someone say pay your fair share and some of the other crap lines I know they have drank to much of the kool aid. -
You are correct about this. But most audits are spot audits only conducted by correspondence aka "mail"
The biggest thing is under reporting income (more 1099's than income reported) , math or entry errors.
But I wouldn't go overboard on the motel stuff unless I had some receipts. As far as proving it if you have a receipt that would be proof enough. Back when I had a shop about 15 years ago the state tax people came to see me. Guy asked how I kept up with my money I told I got cash and put some in the bank and rest in my pocket.
He then asked how I lived I told him I was a reformed drug addict and my family gave me money. Never seen him again he did check my bank account with a bogus subpoena found nothing. You can be gifted 12,000 a year and not pay taxes on it or report it. Been thinking of setting up one of them "will work for food franchises" , You know the standing at the ramp with the cardboard sign ? I hear they're pretty good business to get into. -
i think you may be right. lately i've noticed every answer my trucker life guru gives me starts with " first you need to rig up a gas can next to your seat to pee in.."rollin coal Thanks this.
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They say drinking your own pee is healthy would save the gas can ??
rollin coal Thanks this. -
So you don't feel the need to play it legit? I play it legit and do just fine. Everyone needs to pay their fair share. And find somewhere I have stated elogs and csa will improve safety. Good luck.SFLTRKBIZ Thanks this.
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We took the deduction based on the number of proved service days away from home. In our case it was 306 of them in the last year we did that and it wiped out all the taxes against 60+ thousand gross and then handed us a nice refund to boot. That was a good year.
With that said, you need to be very, very careful doing this sort of thing at tax time. If your company does it and you don't get to claim it and you go and try.. it's going to hurt you.
I don't mind paying tax. Just a fair share of what we don't have to pay LOL. -
Says the truck stop accountant.
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You use a term that can have thousands of meanings Legit? You been spoon feed all that you know all your life to define what a fair share and doing your part is. Suppose you're wrong ??
Just a typical a sheeple all it takes is someone to yell out fresh grass and your attention is diverted to the other side of the field. I was stupid like you once till I seen what fair share really is and how it was applied to my case.
Once you're at that point you will remove the kaleidoscope glasses you see thing through. I take any deductions I can justify and work my income to best suit my needs and screw the "fair share , legit' kool aid gang. -
NO truck stop accountant. I have and continue just what I claim in real life.
So have you another drink of kool aid
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