First off every comment will be thanked.
Second off I need to be chewed out so I'm looking forward to it.
As 1099 pay what receipts do I save? I'm confused about food stuff, and daily small purchases of things.
Do I save food receipts under $50 range how does this tie in with perdiem?
And yes I know I need to get a tax ID number and llc for the tax breaks. But that will be another question.
What receipts do I use for schedule c and when do I need to do schedule c. I go out for 2 to 3 weeks.
1099 tax help.
Discussion in 'Trucker Taxes and Truck Financing' started by Oldironfan, Dec 25, 2017.
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You have to save all receipts for everything you want to be deducted from your gross income.
Fuel, parts, repair, toll, fee , postage, phone, internet
As for the meal it better to stay with DOT allowance. You can deduct up to 80% $$ x every day you was away from home by logbook If you choose to use per diem you don't need receipts for food or tips in restoran.Oxbow and Oldironfan Thank this. -
What about soap, fingernail clippers, socks?
What types of receipts for office? Or such type? -
It's best to save fuel receipts, truck payment receipts, maintenance receipts. The big stuff. Unless of course you're just a company driver getting ripped off and you don't pay for that stuff.
Zaros and Oldironfan Thank this. -
When I worked for a company 4 years in a row I claimed.
Phones
Laptop
60$/day everyday
Socks
Chains
Spare tires
Headlights/tail lights
Bedding
Clothes
Boots
So on and so Forth
Didn’t show any receipts. I tried saving them but, I’m bad at thatdiesel drinker, slow team, Jmans and 1 other person Thank this. -
Don’t forget, you have to pay 15% to social security...
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I am % pay driving carrier equipment.
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Personal use items - socks, fingernail polish is no no
Condoms you can write as PPE personal protection equipment.CorsairFanboy, Dan47, Zaros and 1 other person Thank this. -
SSA wants their money. 1099 means they collect it from you..
justa_driver Thanks this. -
I am myself state tax exempt.
Not medical insured.
Not paying workman comp.
I am paying back taxes, and back child support.
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