Trucker Tax Tips & Deductions

Discussion in 'Trucker Taxes and Truck Financing' started by WiseOne, Apr 2, 2007.

  1. jlkklj777

    jlkklj777 20 Year Truckload Veteran

    Oct 1, 2007
    Duncannon, Pa
    Days away from home (as in a layover) will qualify for the per diem as well. The key is you MUST be away from your tax home for a required "rest period."

    Partial days are also eligible. Just be sure whichever method you use for tabulating partial days is used consistently throughout the year.
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  3. newly crusin

    newly crusin Medium Load Member

    Very close to being an o/o, any tax info would be helpful!

    My accountant will need some Ibuprofen.

    Especially fuel tax info for fuel bought in various states.

    I have found a good software program that I didn't purchase yet, that tracks all fuel purchases ( and the software is affordable), but it doesn't have an area for fuel purchased in various states related to the tax that would have to paid quartly,( I am waiting for an email from the software dept. now on that question).

    Any tax related info would be greatly appreciated.
  4. wsyrob

    wsyrob Trucker Forum STAFF Staff Member

    Sep 14, 2007
    Winston Salem
    Which is it? Anyone in their right mind would choose Method 3 if that is correct. You are talking about thousands of dollars.
  5. dusta

    dusta Bobtail Member

    Jan 26, 2010
    Dallas, Tx
    Buck and a half: as explained to me by the IRS, on the half days, you can only deduct 50%.
  6. miconn

    miconn Light Load Member

    Jul 29, 2009
    I have a question about depreciation. I bought another truck and trailer in July this past year. I really don't need the deduction this year, as my expenses have pretty well covered any tax liability this last rotten year. Will the IRS make me take the depreciation this year? or can I start my depreciation this year being a full year? If that makes any sense....
  7. bleueyes44883

    bleueyes44883 Bobtail Member

    Feb 25, 2010
    I've been doing alot of research..On the IRS website it ims 52.00 a day unless you drive I believe in Canada which I think it said 58.00 a day while in Canada..Research is great but what to deduct as a business or travel expense is driving me nuts...never itemized before and I have never deducted a laptop before..Where is this deducted and how much can you deduct off a 600 dollar laptop?..What about a PSP that is used in the truck for entertainment purposes?
    Last edited: Feb 27, 2010
  8. musicmaker

    musicmaker Medium Load Member

    Dec 25, 2009
    Fort Madison, IA
    its actually $59 and thats an average for all states
  9. bleueyes44883

    bleueyes44883 Bobtail Member

    Feb 25, 2010
    ok, I contacted the IRS on the per diem rates as stated by the IRS this year it is split up and I have seen this already stated on this thread. Here's the break up for the per diem rates

    Beginning Jan 1 2009 to Sept. 30, 2009 its 52.00 a day
    Oct.1, 2009 to Dec. 31, 2009 its 59.00 a day

    This is for OTR drivers subject to DOT regulations

    I hope this helps, I had to refigure my husbands per diem and the software calculated the 80% for me..
  10. V8-MACK

    V8-MACK Light Load Member

    Aug 18, 2009
    I just paid the irs 1,900.00 in november, from the 2006 tax year. It took 11 months of mailing documents, dozens of phone calls, they only answer the phone for a couple hours at night, very difficult to contact them. If your driving a company truck you can claim, your days out 1 st and last day out of the house are half days even if your 5 states away. Your phone you need to keep all your bills and receits, claim half the bill amount. A lap top you can only claim depresiation. If you want to claim more you need to buy a truck. Trust me you don,t want to get audited. This is how it works 345 days out * 52.00 - 17,940 deductions and if you made 50,000. The computer thinks 17,940 is a stack of receits, and bingo they send you a letter, the irs is thinking you made 50 k, how do you have almost 18 k in deductions.
  11. TruckerDragon

    TruckerDragon Heavy Load Member

    Feb 18, 2010
    Westminster, Co
    Could one not simply save all recipts, and hand them to a tax prof?

    "This box is my hygine, cloathing, etc supplies. This box is my fuel recipts, toll charges, etc...this box is my lot lizard and condem purchases box....this one too..and this one.."
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