Company driver tax software question

TaxAct and TurboTax will do it.
Of course you have to figure your days out and do the deduction for per diem. $58/day x 80 less 2% AGI. See IRS form 2106 Meals and Entertainment section.
Also look at IRS Pub 17.
All are available at:
http://apps.irs.gov/app/picklist/list/formsPublications.html

 

yes turbo tax is good go thou every step and you'll find deduction that you may never thought of.

 

can you write off lot lizard's under entertainment ?

 

We use it too, you'll still have to figure your days out etc.

Don't times by 80% before you put in the figure, it dies that for you (else you'll get 80% of 80%).

And tally up cell phone, xm, laundry, gloves, etc . . .

 

Retail tax software does a fine job of calculating your return based on the numbers you enter, and the interview format does make it deceptively easy to think you have covered all your bases. The correct answer to your question is that none of the retail software on the market will accurately guide you through the specific tax issues interstate truck drivers subject to DOT regulations routinely face. Partnering with an tax professional experienced in trucker tax issues may cost a few dollars more up front than a retail tax prep program, but can save you money in legitimately avoided taxes, as well as potential penalties and interest in future years if your calculations aren't correct on prior year returns.

 

No...that is a standard office expense for the plumber to clear your pipes...LOLOL

 

Turbo Tax does do trucking per diem, but like mentioned, you have to do some calculations yourself. It just lists an input box under "meal expenses" for those working in the "transportation industry." So you need to count how many days you were out (counting the day you left & day you returned each as only 3/4 of a day). Then multiply that # by $59. Then add another $6 for each day you were in Canada. Put that total into the box.

Do not multiply by .80 -- the program does that for you.


I recommend turbo tax -- it does walk you through just about everything else and, while it may be time consuming initially, you will also learn what deductions you ought to pay attention to for FY2014.


FWIW I used a tax preparation service exactly once and discovered that the "professional" had been flipping burgers just 3 weeks prior and knew less about taxes than I did. He was just entering my data into a turbotax-like program used by his company. So if you do choose to go that route, be sure to use an actual tax professional with experience with truckers.