Truckers Report Jobs

Find Trucking Jobs

Company Driver Company Driver Dry Van Dry Van Flatbed Flatbed Refrigerated Refrigerated Specialized Specialized Owner Operator Owner Operator
More Trucking Job Searches ⌄ Fewer Trucking Job Searches
⌃

Tax Question

Discussion in 'Ask An Owner Operator' started by treasures4u1, Dec 5, 2016.

Page 1 of 2
  1. Dec 5, 2016 #1
    treasures4u1

    treasures4u1 Bobtail Member

    3
    0
    Dec 5, 2016
    0
    I am a OTR driver, Owner/Operator. I lease to a company. I travel from FL to TX and back. That is my only run. But, because sometimes I am stuck in TX for maybe a week or two, I have purchased a truck to drive around in while in TX. Can I deduct that on my taxes?
    Thanks
     
    treasures4u1, Dec 5, 2016
    treasures4u1, Dec 5, 2016
    #1
  2. Truckers Report Jobs

    Trucking Jobs in 30 seconds

    Every month 400 people find a job with the help of TruckersReport.

  3. Dec 5, 2016 #2
    Truenorthexpress

    Truenorthexpress Light Load Member

    65
    60
    Oct 11, 2013
    0
    How can you be stuck in texas for a week or two? Find another company to lease onto that can keep you rolling.
     
    Truenorthexpress, Dec 5, 2016
    Truenorthexpress, Dec 5, 2016
    #2
    Steel Tiger Thanks this.
  4. Dec 5, 2016 #3
    Hurst

    Hurst Registered Member

    6,618
    12,266
    Aug 24, 2011
    Tampa, Fl
    0
    There has to be more to the story. No one buys a truck just to ride around in on down time. Makes no financial or logical sense at all.

    I am leased and run brokered freight. I never sit more than 1 - 2 days unless by choice. How can you survive sitting like that?

    Hurst
     
    Hurst, Dec 5, 2016
    Hurst, Dec 5, 2016
    #3
  5. Dec 5, 2016 #4
    treasures4u1

    treasures4u1 Bobtail Member

    3
    0
    Dec 5, 2016
    0
    ok thank you for your input but it still doesn't answer my question. He does do locals to stay in the money. Does anyone in trucker land have an answer to my question?
     
    treasures4u1, Dec 5, 2016
    treasures4u1, Dec 5, 2016
    #4
  7. Dec 5, 2016 #5
    DUNE-T

    DUNE-T Road Train Member

    7,043
    17,155
    May 10, 2015
    Detroit, MI
    0
    You can deduct equipment purchased for business, but still, your question does not have sense, why would you buy that truck?
     
    DUNE-T, Dec 5, 2016
    DUNE-T, Dec 5, 2016
    #5
  8. Dec 5, 2016 #6
    Hurst

    Hurst Registered Member

    6,618
    12,266
    Aug 24, 2011
    Tampa, Fl
    0
    Renting a car for business related travel while away from your home state is a write off. Buying a used vehicle to travel on your down time is not a business related expense in my opinion. Talk with your CPA. I am no tax expert.

    Hurst
     
    Hurst, Dec 5, 2016
    Hurst, Dec 5, 2016
    #6
  9. Dec 5, 2016 #7
    treasures4u1

    treasures4u1 Bobtail Member

    3
    0
    Dec 5, 2016
    0
    Thank You
     
    treasures4u1, Dec 5, 2016
    treasures4u1, Dec 5, 2016
    #7
  10. Dec 5, 2016 #8
    Pepper24

    Pepper24 Road Train Member

    2,098
    1,640
    Dec 3, 2010
    0
    You can only write off the mileage on a personal vehicle that's used for business porpoises.dont think this would qualify be up to you if you wanted to take the chance.
     
    Pepper24, Dec 5, 2016
    Pepper24, Dec 5, 2016
    #8
  11. Dec 5, 2016 #9
    Pepper24

    Pepper24 Road Train Member

    2,098
    1,640
    Dec 3, 2010
    0
    Purpose not porpoises sorry.
     
    Pepper24, Dec 5, 2016
    Pepper24, Dec 5, 2016
    #9
  12. Dec 5, 2016 #10
    Bakerman

    Bakerman Road Train Member

    4,663
    8,812
    Jan 27, 2013
    Phoenix, AZ
    0
    Why not just call your tax preparer
     
    Bakerman, Dec 5, 2016
    Bakerman, Dec 5, 2016
    #10
  • Truckers Report Jobs

    Trucking Jobs in 30 seconds

    Every month 400 people find a job with the help of TruckersReport.

    • Page 1 of 2