Why does it matter what fuel mileage your truck gets if fuel is 100% deductible?
Is fuel not a deduction on taxes?
Am I missing something here?
Fuel mileage vs. fuel deduction.
Discussion in 'Ask An Owner Operator' started by Gutter, Oct 18, 2020.
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What you don’t spend you keep. if you want more deductions you can pay me a consultant fee.
Are new O/O’s really this dumb?Wespipes, mud23609, Pamela1990 and 19 others Thank this. -
Pamela1990, God prefers Diesels, Midwest Trucker and 8 others Thank this.
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Well, I’m not an owner op. Just curious. -
Pamela1990, God prefers Diesels and Gutter Thank this.
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If your getting a decent rate for the load fuel mileage isn’t as big a deal.......
Working for $1.07 per mile not so much.....Pamela1990, God prefers Diesels, JonJon78 and 6 others Thank this. -
Don’t get ‘tax deduction’ confused with ‘tax credit’.
Business deductions don’t drop your taxes ‘dollar for dollar’.God prefers Diesels, uncleal13, Gutter and 1 other person Thank this. -
Banker, God prefers Diesels, Midwest Trucker and 9 others Thank this.
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The company I work for I make 23% and the owner ops make 74%. I make about 80,000 a year so I think Ive figured they are in the 200,000 to 225,000 range.
I’ve heard them talking about claiming “other” deductions to lower their business income to be in a lower tax bracket. I’ve also heard them talk about and compare fuel mileage. I guess I was confusing the two.
I thought if you had a truck with so-so fuel mileage it wouldn’t be a big deal because you could claim the fuel to lower your overall taxes. This is why I’m not an owner op. Seems confusing.blairandgretchen Thanks this. -
My truck doesn’t get great mileage and I still pay a ton of taxes. What am I doing wrong.
God prefers Diesels, Midwest Trucker, lester and 5 others Thank this. -
The talk about fuel mileage is just competitive talk.. I prefer to get to the top of the hill first. ...
God prefers Diesels, JonJon78, Dino soar and 4 others Thank this.
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