Write Of Training Pay

Discussion in 'Trucker Taxes and Truck Financing' started by FEELTHEWHEEL, Feb 15, 2012.

  1. FEELTHEWHEEL

    FEELTHEWHEEL Medium Load Member

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    Oct 19, 2010
    EL Cajon C.A.
    0
    Just a ? Can training cost on the simple form be writing off if your under a contract, and was terminated before fulfilling its terms with out just cause, if proving within the law. Any info would be helpful. Thanks :biggrin_25512:
     
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  3. CondoCruiser

    CondoCruiser The Legend

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    Apr 18, 2010
    Tennessee
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    You are an at-will employee. They don't have to give you a reason. So there is no just cause. In return you can quit without reason. The other type worker is one that works under a collective bargaining agreement.

    The only type of at-will employee wrongful termination are discrimination, harassment or for medical reasons. Other than that, they can say they don't like the color of your shoes and you can be fired.

    Any writing off you have to use the long form and itemize. They'll allow you certain percentages of things to deduct. Unless you can come up with roughly $8000 worth of stuff (medical, mortgage interest....), you are better off using the standard deduction.

    Now the students that go to an accredited school can use the $2000 lifetime learning credit. Form 8863. I don't think these employer training falls under that. Only students that go to a certified truck driving school, community college, vo-tech or technical college. You still have to go long form to get that.
     
  4. CondoCruiser

    CondoCruiser The Legend

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    Tennessee
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    I doubled checked. Your situation you would enter the employer based school amount you paid in 2011 on schedule A, line 21.

    Again to make it worth your while itemizing, you'll have to figure perdiem and job expenses/training minus 2% AGI, health insurance payments, out of pocket medical/dental expenses minus 7.5% AGI, mortgage interest, gifts or charity, casualty and theft against you. If all that equals more than $5800, then itemize.

    If not, continue to use the short form.
     
  5. FEELTHEWHEEL

    FEELTHEWHEEL Medium Load Member

    412
    163
    Oct 19, 2010
    EL Cajon C.A.
    0
    Thank You Condo Cruiser for the reply. The info is helpful and I will put it to use ASAP, thanks again !
     
  6. emma

    emma Bobtail Member

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    Feb 15, 2012
    Lebanon Tn
    0
    training pay can be listed as school and anything you bought for truck as well as fifty dollars a day for food and any motel or hotel expense aquired you have to have all receipts for every thing you write off though so if you get audit then you have proof even if training cost is on pay check stub is still proof
     
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