Truck driver set up as S-Corp tax return

Working with FedEx?

I would work with an accountant who knows about how to structure your corporation to your advantage.

 

I have run into many clients that start a business and run it then come see me well after the fact and have many violations of the rules and poor records.

I now send them on their way to another unlucky soul.

 

Now is not a good time to get one with the big push on the personals in a two week period.

I was just trying to show you how a tax person looks at someone who does this.

You have a six month extension on last year. You are already 3 months into the current year.

A trucking person might be of some interest, but right now, a tax person whether cpa, enrolled agent should be engaged to get the paperwork started in the right method before you get into very serious issues of violations on separation of money and expenses which could void the corporation.

 

You don't need one local, find one who knows what they are doing - it doesn't have to be a trucking cpa but one who knows how to deal with business issues. As mentioned you need an EA now, not just an accountant.

And it seems odd that a small company would require you to be a corp to do business with. FedEx did a push for that a while ago to simplify their liabilities but a small company?

 

I'm operating as a S Corp and I can tell you, there is no way I would ask any type of question about this topic on this forum. Do what the majority of people would do and get yourself a good tax accountant. Someone who is well versed in the trucking industry. There's so many ins and outs and the tax code is as complex as you would imagine. After all you're dealing with those bozos in Govt. Dealing with tax returns is not for the faint of heart or amateurs. Good luck

 

A good tax accountant will know how to handle a S Corp and all aspects of taxes. One misstep or make a mistake within the realm of your entity and the IRS has the power to disqualify your S Corp.
in this context it's always best to leave it to an expert. Saves you a lot of the headaches.