Taxes

Discussion in 'Trucker Taxes and Truck Financing' started by bordomzero, Jan 4, 2010.

  1. bordomzero

    bordomzero Light Load Member

    55
    10
    Sep 9, 2008
    Southern California
    0
    Which is better 1099 or W2. Im single not a O/O, no kids, don't own a home or any thing else. I hear if i go W2 i won't get all of my money back they just reimburse me for daily meal. Can someone answer my question thanks.
     
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  3. WickedTrucker

    WickedTrucker Bobtail Member

    37
    10
    Apr 27, 2009
    Milwaukee,WI
    0
    who will only reimburse you for meals? Your company? or the U.S. Criminal... erm Government system? I.R.S has a complete list of acceptable items that can also be taken off on taxes. Only item I know of for sure that can't be is Washing of laundry (unless it is a uniform). Just about everything else can be taken off as a business expense. Most truckstops actually carry a little notebook with all the business expense items on the cover. Even the notebook itself is tax deductable. But without per diem pay you get 75% of $54 a day for everyday on the road and half of that for every half day on the road ( the day you leave or come home for driving) Those are the rules I know, unfortunately I do not know exactly where they are in the tax laws. If you are really worried ATBS is a great truckers account management service. I can't pm thier number and I skeered I might be banned for posting it here. Maybe someone braver soul or an admin could help with that part. Good Luck and Keep the shiny side up and the rubber side down!
     
  4. bordomzero

    bordomzero Light Load Member

    55
    10
    Sep 9, 2008
    Southern California
    0
    Yes, that's what I mean the $54 dollar a day everyday your out. So it is not 100% $54 a day it is 75%?
     
  5. FallsInc

    FallsInc Light Load Member

    69
    24
    Aug 20, 2008
    Ohio
    0
    i was under the impression is was 80% of $52...
     
  6. bordomzero

    bordomzero Light Load Member

    55
    10
    Sep 9, 2008
    Southern California
    0
    I heard it is now $59 dollar a day. I read it on The Trucker news paper.
     
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