| View previous topic :: View next topic |
| Author |
Message |
dewercs2
Joined: 13 Jan 2007
Posts: 158
Location: Hemet, CA
|
| Posted: Thu May 01, 2008 8:25 pm Post subject: Tax Deductions |
|
|
Hi all, I've searched and can't find an answer to my question.
My tax guy is asking for the amount of days I was away from home. The locations I was in on those dates and what time I came in and when I left. Other then making a photocopy of my log book and sending it to him is there another way around this?
I also understand that safety related items are deductable but what about items that I did not have at the time when I moved into my truck. I purchased a cooler, tools and a ladder since I pulled a skateboard.... I remember seeing a list somewhere but can't seem to locate it.
Thanks for any help you can provide.
Paul |
|
| Back to top |
|
Jumbo
Joined: 27 Aug 2006
Posts: 771
Location: Northern Wisconsin
|
| Posted: Thu May 01, 2008 8:37 pm Post subject: |
|
|
| I always just counted the days I was gone and wrote it on the front of the logbook. Then at tax time I just added them up and told the tax person how many. There aren't too many things that aren't deductable. Tools, clothes, cell phone that sort of stuff. I just save the reciept and if i have any questions I ask. DSo a search here for tax deductions. There was a thread not too long ago. |
|
| Back to top |
|
Rev.Vassago
Joined: 04 Apr 2006
Posts: 5402
Location: Green Bay, WI
|
| Posted: Thu May 01, 2008 9:16 pm Post subject: |
|
|
Only overnights are eligible for the deduction. If you left the house, or arrived at home, you cannot count those days. It sounds as if your tax guy is making it more complex than it needs to be. He also missed the April 15th filing date. :wink:
As far as deductible items, if it is something used for the job, or is truck specific, then there is a very good chance it is deductible. If it is something that is used outside of the truck, then it may be deductible. |
|
| Back to top |
|
kc0iv
Joined: 03 Feb 2005
Posts: 1098
Location: Kansas City, MO
|
| Posted: Fri May 02, 2008 4:56 am Post subject: |
|
|
Rev.Vassago wrote: Only overnights are eligible for the deduction. If you left the house, or arrived at home, you cannot count those days. It sounds as if your tax guy is making it more complex than it needs to be. He also missed the April 15th filing date. :wink:
As far as deductible items, if it is something used for the job, or is truck specific, then there is a very good chance it is deductible. If it is something that is used outside of the truck, then it may be deductible.
One of the examples from: http://www.irs.gov/publications/p17/ch26.html#publink100034320 says you DON'T have to be away overnight. Quote: This rest requirement is not satisfied by merely napping in your car. You do not have to be away from your tax home for a whole day or from dusk to dawn as long as your relief from duty is long enough to get necessary sleep or rest.
Example 1.
You are a railroad conductor. You leave your home terminal on a regularly scheduled round-trip run between two cities and return home 16 hours later. During the run, you have 6 hours off at your turnaround point where you eat two meals and rent a hotel room to get necessary sleep before starting the return trip. You are considered to be away from home.
kc0iv |
|
| Back to top |
|
Rev.Vassago
Joined: 04 Apr 2006
Posts: 5402
Location: Green Bay, WI
|
| Posted: Fri May 02, 2008 5:23 am Post subject: |
|
|
kc0iv wrote:
One of the examples from: http://www.irs.gov/publications/p17/ch26.html#publink100034320 says you DON'T have to be away overnight. Quote: This rest requirement is not satisfied by merely napping in your car. You do not have to be away from your tax home for a whole day or from dusk to dawn as long as your relief from duty is long enough to get necessary sleep or rest.
Close enough. You have to be away long enough to have a "necessary" sleeper break. Since a sleeper break would only become "necessary" if you exhausted your 11 or 14 hours, and you add in the 10 hour sleeper break, you are at anywhere from 21-24 hours (ie. OVERNIGHT). :wink: |
|
| Back to top |
|
kc0iv
Joined: 03 Feb 2005
Posts: 1098
Location: Kansas City, MO
|
| Posted: Fri May 02, 2008 6:48 am Post subject: |
|
|
Rev.Vassago wrote: kc0iv wrote:
One of the examples from: http://www.irs.gov/publications/p17/ch26.html#publink100034320 says you DON'T have to be away overnight. Quote: This rest requirement is not satisfied by merely napping in your car. You do not have to be away from your tax home for a whole day or from dusk to dawn as long as your relief from duty is long enough to get necessary sleep or rest.
Close enough. You have to be away long enough to have a "necessary" sleeper break. Since a sleeper break would only become "necessary" if you exhausted your 11 or 14 hours, and you add in the 10 hour sleeper break, you are at anywhere from 21-24 hours (ie. OVERNIGHT). :wink:
Did you notice the Example? Quote: You are a railroad conductor. You leave your home terminal on a regularly scheduled round-trip run between two cities and return home 16 hours later. During the run, you have 6 hours off at your turnaround point where you eat two meals and rent a hotel room to get necessary sleep before starting the return trip. You are considered to be away from home.
BTW. The railroad has a HOS comparable to truck drivers.
kc0iv |
|
| Back to top |
|
countryhorseman
Joined: 04 Jan 2005
Posts: 708
Location: The Great State of Texas - Seguin
|
| Posted: Fri May 02, 2008 3:17 pm Post subject: |
|
|
IF he is asking for locations, dates and times, he is using the wrong deductions for per diem. What he is using is known as CONUS rates, Those numbers are not used for people subject to HOS!
For a day, under the tax code for those subject to HOS to count, you must have had to take the mandated break required by HOS! Just leaving the house, taking a 2 hour lunch break and coming home does not count!
I posted the links to the code a couple of weeks back under a related per diem thread! |
|
| Back to top |
|
countryhorseman
Joined: 04 Jan 2005
Posts: 708
Location: The Great State of Texas - Seguin
|
| Posted: Fri May 02, 2008 4:02 pm Post subject: |
|
|
http://www.irs.gov/publications/p463/ch01.html#d0e820
Special rate for transportation workers. You can use a special standard meal allowance if you work in the transportation industry. You are in the transportation industry if your work:
*
Directly involves moving people or goods by airplane, barge, bus, ship, train, or truck, and
*
Regularly requires you to travel away from home and, during any single trip, usually involves travel to areas eligible for different standard meal allowance rates.
If this applies to you, you can claim a standard meal allowance of $52 a day ($58 for travel outside the continental United States) from January 1, 2007, through December 31, 2007.
Using the special rate for transportation workers eliminates the need for you to determine the standard meal allowance for every area where you stop for sleep or rest. If you choose to use the special rate for any trip, you must use the special rate (and not use the regular standard meal allowance rates) for all trips you take that year.
Travel for days you depart and return. For both the day you depart for and the day you return from a business trip, you must prorate the standard meal allowance (figure a reduced amount for each day). You can do so by one of two methods.
*
Method 1: You can claim ¾ of the standard meal allowance.
*
Method 2: You can prorate using any method that you consistently apply and that is in accordance with reasonable business practice.
http://www.irs.gov/publications/p463/ch06.html#d0e7803
Hours of service limits. If you are subject to the Department of Transportation's “hours of service” limits (as explained earlier under Individuals subject to “hours of service” limits in chapter 2), use 75% instead of 50% for meals while away from your tax home. |
|
| Back to top |
|
dewercs2
Joined: 13 Jan 2007
Posts: 158
Location: Hemet, CA
|
| Posted: Sun May 04, 2008 6:53 pm Post subject: |
|
|
Guy's thanks so much for the info...
Like I said previously I searched and searched.... Country Horseman I'll read the Per Deim thread.
I've copied the info that applied to HOS and will fax to the tax guy, so he can finish it up. This the best part of the CAD ya get the info.... :D
Thanks all... |
|
| Back to top |
|
countryhorseman
Joined: 04 Jan 2005
Posts: 708
Location: The Great State of Texas - Seguin
|
| Posted: Sun May 04, 2008 7:37 pm Post subject: |
|
|
dewercs2 wrote: Guy's thanks so much for the info...
Like I said previously I searched and searched.... Country Horseman I'll read the Per Deim thread.
I've copied the info that applied to HOS and will fax to the tax guy, so he can finish it up. This the best part of the CAD ya get the info.... :D
Thanks all...
No real need to read the Per Diem thread, the same notes I posted here were the ones I was referring too! Had to dig them up anyway, for my tax preparer! he lost the notes from last year! :cry: |
|
| Back to top |
|
dewercs2
Joined: 13 Jan 2007
Posts: 158
Location: Hemet, CA
|
| Posted: Wed May 07, 2008 12:07 am Post subject: |
|
|
Countryhorseman,
Thanks for the reply I got side tracked and started reading other threads :lol:
I printed up the info you posted and called my tax guy. I read to him the tax info about HOS. He told me he still wanted the location and times I was stopped. I told him that I would then fax him from my home computer each page of my log. He said please don't just write it down. I am on a extension since he figures I will be getting money back. I think this year will be his last year doing my taxes.
It's a shame, he started doing my Grandfathers and my dad's taxes many years ago so he has been someone I've seen for a few years. But..... my money is pretty important and I don't think he has a very good clue about the trucking and taxes.
Thanks,
Paul |
|
| Back to top |
|
repete
Joined: 21 Dec 2006
Posts: 237
|
| Posted: Wed May 07, 2008 2:31 am Post subject: |
|
|
| this guy is going to cost you money, I know i've been there. Have him check with the IRS about per diem for HOS the important part is HOS! |
|
| Back to top |
|
countryhorseman
Joined: 04 Jan 2005
Posts: 708
Location: The Great State of Texas - Seguin
|
| Posted: Wed May 07, 2008 7:20 am Post subject: |
|
|
dewercs2 wrote: Countryhorseman,
Thanks for the reply I got side tracked and started reading other threads :lol:
I printed up the info you posted and called my tax guy. I read to him the tax info about HOS. He told me he still wanted the location and times I was stopped. I told him that I would then fax him from my home computer each page of my log. He said please don't just write it down. I am on a extension since he figures I will be getting money back. I think this year will be his last year doing my taxes.
It's a shame, he started doing my Grandfathers and my dad's taxes many years ago so he has been someone I've seen for a few years. But..... my money is pretty important and I don't think he has a very good clue about the trucking and taxes.
Thanks,
Paul
When I married my wife, and her accountant started doing my taxes, he had minimal idea about truck drivers and the additional steps needed to properly do out taxes! Luckily, unlike many, he is a great guy and very open minded, and excepted my lead on where to find the information! Now, I just do a simple spread sheet by the month with number of nights out and the breakdown of the $52.00/75% - he gladly punches this in to the rest of it! I also do a spreadsheet with incidental expenses and categories that they may fall into!
With all that, the house, the kid, the farm we get everything back that I have paid in over the last 3 years!
Good luck with you accountant! Do not give up on him so quick, he is just set in his ways and needs some nudging in the right direction! If all else fails, you can always find a good trucking accountant to review your return and file a amended return if additional refund is found!
CH |
|
| Back to top |
|
| |
