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Jan 20, 2009

TAX * USA - Tips for Truckers

Hire a Professional

USA -Roni Deutch -January 19, 2009: -- Truck-driving is an imperative industry to our economy. Consequently, Congress has designed numerous tax benefits designed specifically for truck drivers. Unfortunately, I noticed there is not nearly enough information available to truck drivers concerning taxes, so I decided to shed some light on the issue here on my blog. To help truckers across the country, I have compiled the following list of tax tips for truckers to give you a better idea of what your taxes should look like: ... With so many IRS rules and regulations as well as deductions and credits available to truck drivers, you should definitely consider hiring a tax professional to help you sort it all out. You may even find that your tax preparation fees pay for themselves, as a professional will be able to tell you any and all deductions you are eligible for, even the new ones you may or may not know about yet.

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posted by Unknown @ 12:19 PM  0 comments

May 6, 2008

TRUKERS' TAX HELP * USA - "On The Road Again, Just Can't Wait......"

If you haven't used this deduction in the past and are eligible, pull out those returns and starting amending. You might just be seeing Uncle Sam giving you more of those hard earned dollars back. Can't beat that with a stick...

USA - Tax Resolutionaries -1 May 2008: -- Most long haul truckers are aware of the per diem deduction for meals and entertainment. But for those who are not and have not been taking full advantage of this deduction, take a look at the rates and do the math. This is a stellar way of reducing your tax liability... First, you need to remember that any per diem amount can be highly scrutinized by the IRS. Therefore, keep those log book records..... this is the best proof of a per diem deduction. Also remember that you have to be a "long haul trucker" (on the road for over 12 hours per day)...

Now let me give you an example of how great a deduction this can be.
250 days on the road driving coast to coast and hitting all the major cities (New York, Chicago, St. Louis, Dallas, Los Angeles) qualifies for the $58.00 per day rate:
250 day X $58.00 = $14,500 x 75% = $10,875 deduction amount (receive 75% since you are covered under DOT regulations)...
And the best part of it all is that you don't need to keep meal receipts... those log books are your golden ticket!...

... Don't mention it ... You're wellcome anytime !!!

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posted by Unknown @ 7:28 AM  0 comments