truker taxes

Well said. Trucking is a total different field. Not to many jobs you cross several states in one day and live like a gypsie.

 

Can you as a tax preparer tell me where to look up that a computer is deductable for a driver employee? I'd really like to know because I have one w/ gps and programming ect.

what form do you claim it on?

and if you itemize your computer do you have to itemize everything losing the standard per diem deduction?

 

The quotation you posted is for an employee who wants to deduct a computer or home office expense for where they work.

The truck driver can take the deduction on form 2106. You would follow the instructions for taking the deductions. The computer would be taken under depreciation rules on form 4562. There are special rules.

These deductions are deductible under the miscellaneous area of the itemized deductions and yes, you would lose the standard deduction amount in order to itemize. HOWEVER, if the standard deduction is higher than the itemized amount you still get to use it.

Most truck drivers have large amounts that can be taken as miscellaneous deductions therefore they always exceed the standard deduction.

If you are not familiar with the rules and the tax forms, it is always advisable to engage a professional tax preparer. I do not recommend H&R Block. I have seen some of their work.

 

I have no knowledge of where you live.

I only suggest that you hire a person who knows about trucking. It can be a CPA, Enrolled Agent or just plain tax preparer. The preparer has to be familiar with the industry. There are too many things that most tax preparers just skim over. They don't see these types of expenses on other returns.

 

The last paragraph deals with this the rest was trucking related.

Using publication 463, the rule book for transportation, as a guide I don’t see where or how a computer is a valid deduction. You could put it under entertainment but this section is clearly for you entertaining others as a part of business and not entertaining yourself.

I mentioned you can use your per diem to pay for it which is where these funds would have to materialize from since you aren’t a business but rather an employee.

I’ve never come close to the standard so I always take it. I doubt the $3000 computer will get him close either. You can take the standard or itemize, not both.

well at least we agree on something… lol

I went to a cheap guy on dad’s advice and hardly did anything but pay taxes when I had my business.

I got a new guy, CPA, the last three years in business before selling. He was charging me avg. $3500 a year… but I was driving a new truck, and effectively paying zero tax and still getting 5-6k back every year. Much better than owing 15k with a dipstick filling out the forms.

Good luck to all

 

Hi Roadmedic, Since you have a lot of years of experience is there a way you could post a general list or outline on common tax deductions for truckers? 2007 will be the first tax year I'll be filing and I'm interested in the basics and some common as well as uncommon deductions we are allowed to take.
I've done my taxes myself since the mid 1980's and would like to continue to do so. I've had businesses and a corporation and never had an audit...I used a tax preparer once but when I did my own I always got back more than they could get me. Any advice is very much appreciated.

Cheers and Happy New Year.

 

Common Deductions:

Bedding for Truck.
Paper Towels
Windex
Air Freshner
Cleaning Supplies
Vacumn Cleaner-12 V
Microwave
Inverter
Refrigerator
Cooler
Seat Covers or pads
Tools
5th wheel puller
Gloves
Padlocks
Load Locks
Windshield Washer, if not reimbursed by company.

Misc Items
Storage containers
Book for paperwork
Paper plates, bowls, etc.
Work clothes
Coveralls
Maps


Entertainment
TV
Movies-bought once in awhile
Satellite Radio
Audio Books
Cell Phone
Computer for internet, routing, gps, log books
Printer
Scanner
Internet charges-checking weather.com, mapquest, etc.
CB Radio Equipment
GPS

Tax preparation program or fee

This is just a quick list. There are more. Basically, if you buy it to use with the truck, it might be deductible.

 

I grabbed their brochure at a Pilot in FL. They seem legit, but I am leaning towards American Truckers Business Service since they are affiliated with Landstar. I think they are $60 a week and this includes end of year filing. For the past 4 months, I have been sending all my info to Contractor Business Services,LLC.....big mistake, they never sent me any info,contacts or even a bill and finally I just told them to cancel my account.