1st year LLC

Hello, my question goes out to business owners mainly LLC sinces this is what we have. I have a serious tax question..me and my fiance we started LLC late January 07...family based business we have 7 units that run under our authority which 4 of those units owned by my uncles that are drivers/owner-operators...we did our 1099misc for all our O/O since they were paying their drivers...we were paying insurance and all the road tax and then later on taking it out of O/O paychecks..now heres are numbers:

Total Gross Invoicing = $ 1,285,204.00
Total 1099 for allO/O = $ 1,086,230.00
Total insuran/rd tax = $ 90,142.00
Drug testin/randoms = $ 1,239.00

if u sub everything it leaves us with just little over 100k...i mean yea theres office supplys 5k and loading board costs some broker gifts/dinner meetings.....my question is what else can we write off...i am so scared to go do my taxes March.6 if im left with 80k and nothing to write off they will tax at least 25% of that i am told if we owe more than 20k in taxes thats pretty much all we have in our savings. And to start a business i invested 40k of my own money that i've saved up over the years to start all the cash flow. I've already thought 1000times about buying a truck and a trailer and have a driver but with these hard times right now i think i will loose even more money or basically have truck running and pay for itself but dont bring any revenue. Any opinions are welcome please dont be too harsh on me..lol

 

we do have monthly profit because we pay our O/O twice a month or after each trip however works 1st...and i did talk to my tax accountant thats gonna be doing my taxes she basically told me what i told you and we counted everything twice after all deductions we still came up to 80k....yes ofcourse if we had 80k in my savings i wouldnt have problem paying 20k in taxes HERE U go IRS but we don't....i also forgot to add Com.check Fees....brokers filed us for full amount of load if we took com.check some would charge us 2% which would come out of our own pocket since we needed to get cash flow going...is that something we can write off as well??? i mean that would be another 5k most likely...what else??

 

Lotta good info thanks. All our accounts with one bank we have business checking, business savings, personal checking and personal savings...ive been using business checking account for all the business need but we've transfered money from one account to another on many occasions...for example if we were low on our personal account to pay for personal bills we had to tranfer from business to personal..i knew about in house business u can write off % on utilities...that still something we have to calculate...my other question was Canadian brokers and all other brokers that didn't send out 1099 to us ....does that mean they didnt file to IRS either????

 

i thought they dont file in CANADA???? they have IRS in CANADA too???