Licensed CPA

Discussion in 'Trucker Taxes and Truck Financing' started by BrandonCPA, Dec 16, 2017.

  1. BrandonCPA

    BrandonCPA Bobtail Member

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    Hello everyone. I just wanted to introduce myself. The 2017 tax season will be upon us soon and I can imagine people are going to have many questions about taxes or even the new regulations that might be passed here shortly for 2018. If you have questions, please have at it.
     
    Crisvalencia90 Thanks this.
  2. Mark Kling

    Mark Kling Technology Contributor

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    M&IE - yes/no with the new tax laws?
     
  3. BrandonCPA

    BrandonCPA Bobtail Member

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    Hey Mark, M&IE will remain in effect for 2018, but let me preclude this comment by saying this will be a benefit only to Owner Operators.
     
  4. Mark Kling

    Mark Kling Technology Contributor

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    Thanks,,, a few posts were suggesting this was going away..

    BTW... Full days is 80% of the $63, Partial days.. is it 75% of the $63 or is it 75%(80%x$63). Pub 463 is kind of unclear on this.
     
  5. BrandonCPA

    BrandonCPA Bobtail Member

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    Mark, in both your instances it is correct, but there is always the 80% step, unless an exception is made. So your latter scenario is completely correct.
     
  6. Mark Kling

    Mark Kling Technology Contributor

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    Thanks,, That is what we have been posting on TTR for the formula..

    I just wish to say welcome aboard TTR. I am glad someone is here to help drivers as their needs are a little different than a normal business, being either an O/O or Company Driver.

    Mark
     
  7. Mark Kling

    Mark Kling Technology Contributor

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    I send you a conversations - upper right of your screen.

    Mark
     
  8. Crisvalencia90

    Crisvalencia90 Bobtail Member

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    I am just completing my first year as an O/O I don't have a CPA yet can I get any suggestions?
    Thanks!
     
  9. Jazz1

    Jazz1 Road Train Member

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    Hire CPA to file your taxes. Its money well spent.
     
    Opus, Crisvalencia90 and Justrucking2 Thank this.
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