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Discussion in 'Trucker Taxes and Truck Financing' started by aliciacova, Feb 16, 2014.

  1. Feb 16, 2014 #1
    aliciacova

    aliciacova Bobtail Member

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    Feb 16, 2014
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    Does anyone now if when deducting repairs it is important to itemize from one receipt the: Parts, labor, sales tax, and environmental fee or just put it in as lump sum of total paid?
     
    aliciacova, Feb 16, 2014
    aliciacova, Feb 16, 2014
    #1
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  3. Feb 16, 2014 #2
    Old Man

    Old Man Road Train Member

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    Apr 3, 2009
    Oklahoma City, OK
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    One lump sum. Total for the year.
     
    Old Man, Feb 16, 2014
    Old Man, Feb 16, 2014
    #2
  4. Feb 16, 2014 #3
    Diesel Dave

    Diesel Dave Last Few of the OUTLAWS

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    times 2 ^^^^^ and some.........
     
    Diesel Dave, Feb 16, 2014
    Diesel Dave, Feb 16, 2014
    #3
    wonderdog24 Thanks this.
  5. Feb 16, 2014 #4
    aliciacova

    aliciacova Bobtail Member

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    Feb 16, 2014
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    What about the sales tax portion, do I have to exclude that when doing my taxes? (it's part of the lump sum). So probably not??
     
    aliciacova, Feb 16, 2014
    aliciacova, Feb 16, 2014
    #4
  7. Feb 16, 2014 #5
    frankgh

    frankgh Medium Load Member

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    Oct 8, 2013
    NW Florida
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    Taxes paid was an expense. I believe a CPA is money very well spent.
     
    frankgh, Feb 16, 2014
    frankgh, Feb 16, 2014
    #5
    aliciacova Thanks this.
  8. Feb 17, 2014 #6
    Saddletramp1200

    Saddletramp1200 Road Train Member

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    Sep 4, 2011
    Houston Texas,USA
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    You don't have the time to be here. Sleep, drive,shower, eat. repeat.
     
    Saddletramp1200, Feb 17, 2014
    Saddletramp1200, Feb 17, 2014
    #6
  9. Feb 17, 2014 #7
    frankgh

    frankgh Medium Load Member

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    Oct 8, 2013
    NW Florida
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    Sorry to trespass. But the question was valid as was the response.
     
    frankgh, Feb 17, 2014
    frankgh, Feb 17, 2014
    #7
  10. Feb 18, 2014 #8
    xsetra

    xsetra Road Train Member

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    Aug 21, 2011
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    Take the total you paid for an expense on your taxes. You don't separate the amounts on your receipt.
    Don't forget to take your log book deduction for your daily expense. Well I use the daily deduction versus adding all food and lodging receipts.( Not many hotel receipts for using my sleeper, haha.)
    You know add all your quarter day periods, or portion of (6hours, 12-6am, 6-12am,12-6pm,6-12pm) and add them up for your total days gone from home., IF you log you leave house at12am and return 6am that is 1) 1/4 day. But if you log your left at 12:05am and returned at 6:05am that is 2) 1/4 days or 1/2 day.
    Good luck with them taxes, I have a tax office do mine. ITs cheaper to do them yourself, until the audit. Self-employed your chances are higher to get picked for an audit.
     
    xsetra, Feb 18, 2014
    xsetra, Feb 18, 2014
    #8
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