Team Couple o/o question

Discussion in 'Trucker Taxes and Truck Financing' started by XxdiggitxX, Nov 27, 2019.

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  1. Nov 30, 2019 #11
    Last Time Around

    Last Time Around Medium Load Member

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    Yea,,,,,NO
     
    Last Time Around, Nov 30, 2019
    Last Time Around, Nov 30, 2019
    #11
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  3. Nov 30, 2019 #12
    XxdiggitxX

    XxdiggitxX Bobtail Member

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    @Wespipes Sone great info you've given me! I love the sound of less taxes... I will be searching for a Trucking Accountant soon, do you have any recommendations?
     
    XxdiggitxX, Nov 30, 2019
    XxdiggitxX, Nov 30, 2019
    #12
  4. Nov 30, 2019 #13
    flood

    flood Road Train Member

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    You could also pay her on a 1099

    You do all the taxes for the truck AND yourself

    She does hers and you both get perdiem. If you pay her on a W2 she'll lose the 14,000-1,700 person write off
     
    flood, Nov 30, 2019
    flood, Nov 30, 2019
    #13
    XxdiggitxX Thanks this.
  5. Nov 30, 2019 #14
    XxdiggitxX

    XxdiggitxX Bobtail Member

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    XxdiggitxX, Nov 30, 2019
    XxdiggitxX, Nov 30, 2019
    #14
  7. Nov 30, 2019 #15
    Last Time Around

    Last Time Around Medium Load Member

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    My personal history...

    Community property...split 50/50 Although I paid 100% before marriage.
     
    Last Time Around, Nov 30, 2019
    Last Time Around, Nov 30, 2019
    #15
  8. Nov 30, 2019 #16
    XxdiggitxX

    XxdiggitxX Bobtail Member

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    @Last Time Around for real? That is ########. I intend on paying cash for the truck. If we were to get married and then divorced, she would be entitled to half of this? I may not be getting married at this point...
     
    XxdiggitxX, Nov 30, 2019
    XxdiggitxX, Nov 30, 2019
    #16
  9. Dec 2, 2019 #17
    Ridgeline

    Ridgeline Road Train Member

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    Sorry if this is offensive, but if you are thinking this way, don't even bother to get a truck, dump her now and go work for a company.
     
    Ridgeline, Dec 2, 2019
    Ridgeline, Dec 2, 2019
    #17
    XxdiggitxX and flood Thank this.
  10. Dec 2, 2019 #18
    XxdiggitxX

    XxdiggitxX Bobtail Member

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    @Ridgeline no offense taken. Appreciate the honesty, I'm not worried about a divorce, just shocked that this is the way the rules go... we are going to just cosign the truck. Once the market goes down some more, and well get our authority when rates turn back up... title will be in my name, the house and everything will be in hers so if I get in an accident they cant take "my assets"
     
    XxdiggitxX, Dec 2, 2019
    XxdiggitxX, Dec 2, 2019
    #18
  11. Dec 3, 2019 #19
    Last Time Around

    Last Time Around Medium Load Member

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    Well...why don't you pay half the cash, and your partner pay the other half...it's a business decision, partnership, correct? Than Do it correctly. 50/50 going in....cuz it's gonna be 50/50 if things go south.
     
    Last Time Around, Dec 3, 2019
    Last Time Around, Dec 3, 2019
    #19
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  12. Dec 3, 2019 #20
    Last Time Around

    Last Time Around Medium Load Member

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    The house and everything... won't be your assets.... they will be your wife's assets once you put them entirely in her name...and half the truck will be hers too. Simpler, in my mind, too simply not be married.... Just co-habitate.... Also, her future debt, will not become your debt... Marriage is a contract, cheap to get into.... expensive to terminate.
     
    Last Time Around, Dec 3, 2019
    Last Time Around, Dec 3, 2019
    #20
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