this is for income tax purpose
2006-08-05 07:40:14 · 4 answers · asked by richard g 1 in Business & Finance ➔ Taxes ➔ United States
First we need to know if you're an employee or an independent truck driver. The answers would be very different.
2006-08-05 07:50:11 · answer #1 · answered by misslabeled 7 · 0⤊ 1⤋
My answer assumes you are an owner/operator and is not intended to be complete.
All costs of operating the truck should be deductable. There include: fuel, maintance, and insurance.
Meals on the road may be partially deductable.
If you are away from home overnight, lodging can be deductable.
Any cost for logbooks or other records required as a driver or for recording expences are also deductable.
Please consult with a tax expert. The cost of the consultation is also deductable.
2006-08-05 15:15:01 · answer #2 · answered by STEVEN F 7 · 1⤊ 0⤋
If you are an independent driver, you should hire an accountant to do your taxes. The accountant will tell you what items are deductible. I know lodging and gas, truck maintenance are all deductible. Maybe you should consider taking a tax class to do your own taxes. Many truck companies have referral services.
2006-08-05 15:16:18 · answer #3 · answered by Annie 2 · 1⤊ 0⤋
Go to HRBlock's website and they have basic deduction sheets to assist some common deductions based on occupation.
2006-08-08 00:00:38 · answer #4 · answered by miki 2 · 1⤊ 0⤋