Fuel mileage vs. fuel deduction.

Discussion in 'Ask An Owner Operator' started by Gutter, Oct 18, 2020.

  1. Old Man

    Old Man Road Train Member

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    my taxes are subsidized by the government, my social security pays about 50% of my taxes.
    New trailer coming in November and the government is helping pay for it with the money I’m not going to have to give the irs.
    If I could just figure out a way to deduct a new c-8 Corvette
     
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  3. magoo68

    magoo68 Road Train Member

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    If you’re making 80,000 off of 23% that’s roughly 345,000 gross a year to company on 50,000 loaded miles . As a owner op on 74% if rushing got me a extra load a week I can see profit in it...
     
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  4. abyliks

    abyliks Heavy Load Member

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    I know my fuel cost for bidding work and that’s about it, if it’s 75* out I’m going to idle for ac, if I can get somewhere earlier by running 70 instead of 65 I do, that being said, if I don’t NEED to run 70 or idle I don’t, save it when I can use it when I need it....you want to throw thousands of extra tax dollars into useless politicians pockets and big corporations you go right ahead, as long as I Turn enough to keep my savings account comfy for breakdowns/repairs and My bills paid I can always find something to put into the business
     
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  5. RStewart

    RStewart Road Train Member

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    You just bought a new trailer a couple years ago lol.

    The Vette is a company car. Just another benefit for the CEO.
     
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  6. Old Man

    Old Man Road Train Member

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    But my new trailer is lower. The one I have now is going to be rented
    Problem is I get a trailer built so I can make more money, then I pay more taxes.
     
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  7. RStewart

    RStewart Road Train Member

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    I should be in orientation at Landstar in a week or so. I'll hit you up for it in 6 months or so. Lol.

    My goal is to pay 1 million dollars a year in taxes.
     
  8. Old Man

    Old Man Road Train Member

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    Vote for Joe.
     
  9. Midwest Trucker

    Midwest Trucker Road Train Member

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    I think I’ll buy a hot tub since I can deduct it as a resting my back expense. Hey it’s free money so why not? ;)
     
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  10. RStewart

    RStewart Road Train Member

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    Lol. Umm... NO. Lol. I have a different plan. I think if I make 100 million I might pay 1 million in taxes.
     
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