Tax deductions....

Discussion in 'Trucker Taxes and Truck Financing' started by 18Wheels&DozenRoses, Feb 17, 2010.

  1. Mr. PlumCrazy

    Mr. PlumCrazy Road Train Member

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    Anything that you take on your job is considered a work related expense, that said unless you boss allow you to come to work nude you regular clothing is you uniform. Your tooth brush, hair comb you can not go into a shipper bare footed if you need reading glasses to read a map if you buy a gps there are a lot of deductions that drivers miss every year. I been doing my taxes all my life buy a book every now and then to keep up with changes. For several years I did other people taxes and one year had a guy bring them back telling me to fix it where he didnt get so much back he though he was going to go to jail because he was getting back about 3 times what he normanlly get. It was because he was use to taking them to H&R Block or one of them tax places. And everyone knows them places make more money if the get you in and out as fast as possible so they can get to the next person. My advise would be stop in a book store pick up a couple book and start teaching yourself. No one cares more about your money than you and the best way to get a max return is to do it yourself
     
    Hedon Thanks this.
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  3. mover man

    mover man Road Train Member

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    Mr Plumb Crazy that was a nice story, I enjoyed reading it.
    However it did not come close answering my question. Which was what is the standard deduction for transportation workers this year.
    To elaborate i was asking about the allowed per day deducion. That is giving to workers who are subject to hours of service regulations by the govt.
    such as truckers, pilots, train engineers etc..
    And choose not to itemize for meals,laundry,shaving and things of that kind.
     
    Last edited: Mar 5, 2010
  4. Roadmedic

    Roadmedic Road Train Member

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    From IRS pub 463

    http://www.irs.gov/publications/p463/ch01.html#en_US_publink100033750

    Special rate for transportation workers. You can use a special standard meal allowance if you work in the transportation industry. You are in the transportation industry if your work:
    • Directly involves moving people or goods by airplane, barge, bus, ship, train, or truck, and
    • Regularly requires you to travel away from home and, during any single trip, usually involves travel to areas eligible for different standard meal allowance rates.
    If this applies to you, you can claim a standard meal allowance of $52 a day ($58 for travel outside the continental United States) from January 1 through September 30, 2009, and $59 a day ($65 for travel outside the continental United States) from October 1 through December 31, 2009.

    Using the special rate for transportation workers eliminates the need for you to determine the standard meal allowance for every area where you stop for sleep or rest. If you choose to use the special rate for any trip, you must use the special rate (and not use the regular standard meal allowance rates) for all trips you take that year.

    Travel for days you depart and return. For both the day you depart for and the day you return from a business trip, you must prorate the standard meal allowance (figure a reduced amount for each day). You can do so by one of two methods.
    • Method 1: You can claim 3/4 of the standard meal allowance.
    • Method 2: You can prorate using any method that you consistently apply and that is in accordance with reasonable business practice.
     
    davenjeip Thanks this.
  5. Mr. PlumCrazy

    Mr. PlumCrazy Road Train Member

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    mover man actually I wasn't answering you question I was elaborating on the OP question. Your question was answered a week before you asked it 2 post above it.
     
  6. Roadmedic

    Roadmedic Road Train Member

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    When dealing with uniforms or work clothes there are rules from the IRS.

    http://www.irs.gov/publications/p529/ar02.html
    Work Clothes and Uniforms





    You can deduct the cost and upkeep of work clothes if the following two requirements are met.
    • You must wear them as a condition of your employment.
    • The clothes are not suitable for everyday wear.
     
  7. mover man

    mover man Road Train Member

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    Road Medic thank you that was exactly what i was looking for! I have used the same accountant for the past 15 years, but i recently moved, Although i could still use the same guy i perfer a firm that is located close by to me. That way i can alway go to the office if i have a question, rather that waiting for a call back.
     
  8. sierrawayfarer

    sierrawayfarer Bobtail Member

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    Feb 10, 2010
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    Pretty much anything you require to do your job plus some other stuff.
    Note: Not all of these apply in every case but they might jog your memory

    Access Fees:

    Internet (Earthlink, AOL, MSN, PeoplePC), Satellite (Qualcomm, XM, Sirius)
    Administrative Fees:
    ATM Fees, Check Reorder Fees
    Association Dues
    OOIDA, Teamsters, etc
    Cell Phone Charges
    (Business Use)
    ComData/ComCheck Fees:
    Computer Software
    Credit Card Fees
    Cleaning Supplies:
    Window Cleaner, Paper Towels, RainX
    Interest:
    Business Loan, Credit Card
    Office Supplies:
    Pens, Pencils, Paperclips, Envelopes, Folders, Rubber Bands
    Medical Exams
    ...required by your employer
    Postage Fees:
    For Mailing Invoices, Bills of Lading, etc...
    Real Estate Expenses:
    Mortgage interest
    Mortgage prepayment penalties
    Penalties of early withdrawals
    Points on principal residence financing
    Real estate taxes

    Safety Gear
    Trucking & Business Related Subscriptions
    Uniforms
    Dry Cleaning Costs for your uniforms or protective clothing
     
  9. davenjeip

    davenjeip Medium Load Member

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    Port Charlotte, Fl
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    Thanks. That link just made me money.

    Been OTR for a week and a half, and make it a point to keep up with my personal accounting, both before and especially now. I save every receipt and sit down at least once a week and record all my finances, so my tax filing is simple and I can get every penny of itemized deductions that I can. I don't cheat even a little on my taxes, but once you make the realization that that little scrap of paper is worth X amount of dollars and taking the time to record them in your accounting software makes you money, you can get an awesome refund.

    I know I will take a Per Diem when it comes time to do my taxes next year, but was having trouble figuring out what all it included. I knew it included meals, but couldn't figure out if it included any thing else, so I didn't know if I could still itemize all my other work expenses.

    Link made it clear to me that it is just for meals, and I don't spend anywhere near that much in a day to eat. Plus I can keep itemizing everything else, which will add up to a nice chunk of money by the end of the year.
     
  10. Truckerdena

    Truckerdena Bobtail Member

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    Feb 3, 2011
    Jackson, MI
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    This information is great but does not apply to 2010 tax information which is in question.... :)
     
  11. Roadmedic

    Roadmedic Road Train Member

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    Why does it not apply to 2010 taxes?
     
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