Do independent contractors leasing pay more in taxes?

Discussion in 'Questions From New Drivers' started by Drivingotr4life, Mar 26, 2018.

  1. Drivingotr4life

    Drivingotr4life Light Load Member

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    Crappy tho I spent my tax money on travel. :( and bp ;). O well I have 3 years to pay it right?
     
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  3. Ryan423

    Ryan423 Light Load Member

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    Then you would know how much to deduct.
     
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  4. MysticHZ

    MysticHZ Road Train Member

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    You would actually have to make a deliberate effort to do it wrong.
     
  5. Drivingotr4life

    Drivingotr4life Light Load Member

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    So deducting a few things I didn't actually buy isn't gonna raise suspicion like extra scales and parking. Few supplies I really just estimated my deductions no way I'm adding up all my receipts
     
  6. Brickwall

    Brickwall Light Load Member

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    That's a mistake.
     
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  7. Steel Dragon

    Steel Dragon Road Train Member

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    Doesn't everyone already know this?
    Everyone works 1099 once..then realizes their mistake.
    You neen to make double or triple a company salary to take on all the headaches of being an independant contractor.
     
  8. Justrucking2

    Justrucking2 Road Train Member

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    Did you set yourself up as an LLC?
     
  9. Ridgeline

    Ridgeline Road Train Member

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    So to me you're not serious about this as a profession or a business.

    If you are that lazy to add up the receipts, just stay being a company driver.

    Well it kind of provides my point of about the problems of those who are serious about this being a profession being dragged down by those who just want to make money and get by without doing the work.
     
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  10. Moose1958

    Moose1958 Road Train Member

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    I don't think this is fully accurate. This topic was discussed in a thread sometime ago and in that thread was posted where although you have to account for this extra 7% in another place you get a credit for it back. I am not an expert on any of this and never will be. I just remember that thread because I made this same mistake and someone corrected me.
     
    Aamcotrans Thanks this.
  11. Aamcotrans

    Aamcotrans Road Train Member

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    I will research that. Good knowledge to have.
     
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