Quick Figures for 2006

Discussion in 'Trucker Taxes and Truck Financing' started by TurboTrucker, Apr 8, 2007.

  1. TurboTrucker

    TurboTrucker Road Train Member

    861
    276
    Feb 23, 2005
    Rossville, Georgia
    0
    The standard meal deduction rate that can be claimed for all days traveled away from home for 2006 is $52.00 a day.

    Drivers get to claim 75% of that from their taxes.

    The standard mileage deduction for business use of a personal motor vehicle is 44 cents per mile for year 2006.

    This is the first year in quite some time, that I didn't need to itemize my deductions. The standard deductions eclipsed my itemized, even with a hefty year of medical expenses to claim.

    But I beat them out of the AMT....:biggrin_25522:
     
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  3. Matthews

    Matthews Medium Load Member

    315
    14
    Apr 5, 2007
    Akron,OH
    0
    Thank you for the insight..... on this...

    I've gotta few questions for my (current) CPA and this forum has helped me think about alot of stuff I would be changing.

    Hinst the word CURRENT.....
    :biggrin_25521:
     
  4. Carolina_Beaver_Teaser

    Carolina_Beaver_Teaser Light Load Member

    186
    20
    Apr 8, 2007
    Mooresville , NC
    0
    Actually!! If you are required by DOT regs to keep a log book, you are eligible for meal deduction, not just away for the standard 24 period.:biggrin_255:.
     
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