Tax day is coming up and if you are like me, you haven’t filed yet. Ughh, not my favorite thing! I was reading online and found an article just for Truck Drivers that gave me some ideas on missed deductions. I was of course, very excited to read it. I learned some secrets. Any deductions drop the income, helping in less taxes to be paid or more on that IRS check I hopefully will get.
Did you that drivers can deduct $52.00 each day they are on the road for the first 9 months? That’s insanity! And to make it even more crazy, it doesn’t matter if you are a company driver or an owner operator.
But wait, there’s more! If you use a personal automobile for any reason related to your trucking job, you get .50 cents a mile. You get .15 cents a mile for if you use your personal car for moving or medical. And, you get .14 cents per mile if you use your personal car for a charitable reason.
If your office is in your home, but not in the main area, you get deductions for that!
According to the article, “Tax Deductions for Commercial Truck Driving” that I read, small deductions missed by a lot of drivers are listed below:
- Bank Fees such as ATM fees, check order charges and charges for having a checking account.
- Annual credit card fees and the interest paid to the credit card for business related expenses.
- Association dues.
- ComData/ComCheck Fees
- Computer software support or technical assistance fees
- Cleaning supplies
- Fax and copy charges
- Internet fees required to carry out the business duties
- Office supplies such as pencils, envelops, paper clips, staples, stamps
- Delivery fees
- Industry subscriptions for magazines, journals
- Drivers licensing fees
- Rain gear or other weather related clothing required for the job
- Fees associated with looking for a truck driving job
- The secret is to stay organized and keep all receipts. It will save you a lot of money on taxes this year.
Truck driving jobs are just like running a small business. You have to do everything you can to stay in business. These trucking tax tips originally came from: http://smallhomebusiness.suite101.com/article.cfm/tax-deductions-for-commercial-truck-driving
As always we have to follow this tax related information with a disclaimer: