Question for a friend

thats a question that would require a whole lotta space to answer....short form is this....
should be setting money aside all year. should (i believe) be paying quarterly taxes. and unless he has a TON of tax knowledge, he should be hiring someone (cpa) to do his taxes for him. i did taxes for quite a few years, but self employed as a truck driver? UGH!!!! only 2 bigger nightmares i can think of are clergy and farmers
also....SAVE ALL RECEIPTS....FOR EVERYTHING

 

Google : OOIDA

This owner-operator association will point you in the right direction.

 

First of all, he does not have a boss, he is. The reason he is not getting taxes taken out of what he earns is because he is a contractor. What he needs to do sooner than later is find a CPA that knows the trucking business, and talk to them so they can get him proper advise. There is also a tax section on this forum that should also give you some more insight.

 

Don't tell her the truth Oscar!!! Can't u see why he didn't? Instead of helping him with taxes, u should help by being a real friend. I mean, if you're here to meet new friends futuregirl.

 

If we are talking a plain jane run of the mill truck driver then working with a CPA is overkill. Pull out the big guns when you have an issue.

A bookkeeper/tax person should be able to do the trick.

 

Bill is right, just use a tax preparation company.

As much as I hate the guy who owns it, ATBS is a good tax company for drivers.