1099 tax help.

Discussion in 'Trucker Taxes and Truck Financing' started by Gearjammer79, Dec 25, 2017.

  1. Gearjammer79

    Gearjammer79 Road Train Member

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    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.
     
    Oxbow Thanks this.
  2. Snailexpress

    Snailexpress Heavy Load Member

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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 Gearjammer79 Thank this.
  3. Gearjammer79

    Gearjammer79 Road Train Member

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    So no cigarette receipt, or food, or drink?
    What about soap, fingernail clippers, socks?
    What types of receipts for office? Or such type?
     
  4. Tb0n3

    Tb0n3 Heavy Load Member

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    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.
     
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  5. S M D

    S M D Road Train Member

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    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 that
     
    Gearjammer79 Thanks this.
  6. Aamcotrans

    Aamcotrans Light Load Member

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    Don’t forget, you have to pay 15% to social security...
     
  7. Gearjammer79

    Gearjammer79 Road Train Member

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    I am % pay driving carrier equipment.
     
  8. Snailexpress

    Snailexpress Heavy Load Member

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    Soap you can try to name as hand cleaning and write it off'
    Personal use items - socks, fingernail polish is no no
    Condoms you can write as PPE personal protection equipment.
     
    Gearjammer79 Thanks this.
  9. Aamcotrans

    Aamcotrans Light Load Member

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    SSA wants their money. 1099 means they collect it from you..
     
    justa_driver Thanks this.
  10. Gearjammer79

    Gearjammer79 Road Train Member

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    Why?
    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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