Who's wrighting a ckeck to the IRS

Discussion in 'Trucker Taxes and Truck Financing' started by orangepicker, Apr 14, 2012.

  1. Apr 14, 2012 #1
    orangepicker

    orangepicker Road Train Member

    1,159
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    Nov 9, 2011
    florida
    0
    I am 808.00 more on top of what they took all year. what i'm i doing wrong? they say 51% don't pay any tax. does that mean 51% make less then 17,000?
     
    orangepicker, Apr 14, 2012
    orangepicker, Apr 14, 2012
    #1
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  3. Apr 14, 2012 #2
    MNdriver

    MNdriver Road Train Member

    7,985
    4,372
    Feb 24, 2012
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    you didn't spend enough on the truck.....

    DId you put any into an IRA? Other retirement shelter?
     
    MNdriver, Apr 14, 2012
    MNdriver, Apr 14, 2012
    #2
  4. Nov 13, 2012 #3
    Flaing

    Flaing Bobtail Member

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    Oct 30, 2012
    0
    i just need 3 more posts!
     
    Flaing, Nov 13, 2012
    Flaing, Nov 13, 2012
    #3
  5. Nov 13, 2012 #4
    Flaing

    Flaing Bobtail Member

    7
    0
    Oct 30, 2012
    0
    or is it 2?
     
    Flaing, Nov 13, 2012
    Flaing, Nov 13, 2012
    #4
  7. Nov 13, 2012 #5
    Flaing

    Flaing Bobtail Member

    7
    0
    Oct 30, 2012
    0
    nope its one to send pm's
     
    Flaing, Nov 13, 2012
    Flaing, Nov 13, 2012
    #5
  8. Nov 13, 2012 #6
    Chris50

    Chris50 Medium Load Member

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    216
    Jun 21, 2010
    Florida
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    are u an o/o or company driver? if company driver start an ira, it =`s -5000 from taxable income unless it changed this year. If your an o/o start a 401k =`s -17000 from taxable income plus a % of remaining, im pretty sure u can put 5000 into an ira if u had enough left also......... u pay tax on these later of course but u should be retired and have a lower income thus lower rates by then.....

    chris

    ps u can borrow against the 401k so the money isnt really tied up, and its interest free since its ur money
     
    Chris50, Nov 13, 2012
    Chris50, Nov 13, 2012
    #6
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