Is having to Pay to park your company truck during your hometime Tax Deductible?

To the OP, just another thing to think about.

There is a liability involved with the owner of the place if he assigns you a spot.

In Michigan and a number of other states, the property owner if they tell you where to park, is responsible for the damages to the vehicle, including break-ins.

Many don't know this.

Today's insurance system just pays for it, writes off the loss and moves on.

BUT unless you have a rider for the electronics (*including the ELD) and your personal stuff, that's not going to be covered.

Here the law relates to a 1920's law that was passed because garages were ripping off accessories off of cars they serviced and the garages said too bad.

 

Yeah, ok. I guess it kinda boils down to how much you play by the rules. I drive a truck. I own my truck. Rules are for other people

Im 66 years old. Have been self employed for over 20 of that (which is the usual targets for audits). And have never been called in for an audit.

If I am a W2 employee and have to pay $1200 to park my company owned truck without being reimbursed for it from the company, Im taking a deduction on it SOMEHOW or another. If the IRS doesnt like it, they can audit me (which is NOT very likely on a W2 employee) and send me a bill for the $300 I didnt pay in taxes for it and the $30 in interest and my life will move on. Either way, I dont live in fear of the IRS. But thats just me. Some people are scared to death - all these doom and gloom stories. It isnt like they are going to end your life for taking the deduction...

My only encounter with the IRS is I got more money back than the H&R Block flunkie gave me credit for. "Guaranteed maximum deduction" my ###.

 

That's kind of BS they are expecting you to pay out of pocket to park their truck when not in use. Hopefully you're getting paid well enough to put up with that because generally no, you aren't allowed to write off any business expenses as an employee. If it's your truck that's a different story and sure, parking fees would be considered a business expense. This is an often overlooked and underestimated problem for guys who either work for themselves or for a company that doesn't have any yard nearby. Most cities and neighborhoods have rules against parking unused semi trucks and trailers just anywhere.