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Selling used truck

Discussion in 'Trucker Taxes and Truck Financing' started by JonJon78, Jan 3, 2025.

Page 2 of 2
  1. Jan 5, 2025 #11
    JonJon78

    JonJon78 Road Train Member

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    Wishful thinking!!!
     
    JonJon78, Jan 5, 2025
    JonJon78, Jan 5, 2025
    #11
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  3. Jan 5, 2025 #12
    mtoo

    mtoo Road Train Member

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    Jan 15, 2011
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    I didn't do gray areas on my taxes, but when I sold out and retired. I sure was glad when I hit the 3 year mark, then the 5 year mark and finally the 7 year mark. Any chance for a audit are now in my rear view mirror. Taxes are so simple with only social security and interest income.

    Over 30 years of owning trucks, I tried staying away from the gray areas. But every time there was a letter from the IRS my heart would stop. I never went thru an audit, I can only imagine what that stress would be like. Stress is the main reason I finally sold out, remember stress is the silent killer.
     
    mtoo, Jan 5, 2025
    mtoo, Jan 5, 2025
    #12
    Charlee3, D.Tibbitt and Diesel Dave Thank this.
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