How much do you usually write off?

everything that is associated with the truck or the business. I don't jack around with the IRS

 

Just total everything up and deduct. If the standard deduction is more, go with the standard.

 

Right off everything that you can to make your taxable income as small as possible.

 

He's 1099 ... he better be deducting everything on schedule c and taking the standard deduction.

 

Every penny I can document.... a maybe a few that I can mostly account for.

 

1099 Company driver.... Whatever you have to pay for and not reimbursed by your company or owner. When I was on 1099 it was per Diem the biggest, then a portion of your phone usage while talking business, and I had a few not reimbursed expenses such as a CB radio, antennas, floor mats, a better upgraded mattress, compact refrigerator, inverter, gloves, parking fees.... things they would not pay for but I wanted to have. Some write off the subscription to XM radio because of a weather/traffic reports, but my accountant said that this is a stretch.

 

As a fellow 1099 guy for 30 yrs all post ahead of me are correct . What I would say is once you get rolling try and keep your deductions consistent. And within the first few yrs of starting it's ok to show bigger deductions due to start up expenses after that consistent numbers yearly will help keep uncle Sam of your back a usual red flag is self employed with rental income properties.you need to find a good accountant who knows his #### and keeps up with TaX codes cause there always changing . Stay away from h&R block and places like that they r just a processing machine and don't put the work in to reduce your tax liability. Ask around for accountants in your area that other 1099 owner operators use .

 

and maybe a few that I cannot account for. lol

 

My auditor went after everything that was deducted. As far as the xm radio she disallowed it. I saw her radio in the office and asked if she reimbursed the cost of the electricity. She said it was there to pass the time and keep abreast of the weather and news. I asked if they charged business for the muzak system. For some reason, she dropped the issue and it was accepted.