Truck Driving Jobs

derelict77 · #1 01-24-2007, 12:16 AM

I am single. Much of 2006 I was OTR. If I dont itemize my taxes what is my other alternative? What does it mean to take the "standard deduction"? On what tax form does a single person list the standard deduction? Please help!!!!!! Thank-you

mike3fan · #2 01-24-2007, 01:06 AM

Yeah,but I don't have to eat pickled pig's feet!

Uturn2001 · #3 01-24-2007, 01:31 AM

You can probably use form 1040 ez if you are not going to itemize and have no dependants, and unless you had more than $8400 (approx) in deductable expenses in 2006 it will not pay you to itemize.

If you do have dependants and/or have more than $8400 in deductions then you will need to use form 1040.

You can view and download any federal US tax form, instructions, etc at http://www.irs.gov/

derelict77 · #4 01-24-2007, 01:40 AM

I just talked to a fellow employee at Gordon and he said Gordon deducts our "meals and entertainment" expenses before taxes from each check. Do I need to consider this when filing on form 1040ez?

choperbob · #5 01-24-2007, 01:43 AM

:shock: :? taxes or texas?

ops: it is beyond me, i drive trucks and let tax pros do my taxes. am a company driver and use H&R block do mine, costs a little but they always get me something back.

glasman2 · #6 01-24-2007, 01:53 AM

Quote:

Originally Posted by derelict77

I just talked to a fellow employee at Gordon and he said Gordon deducts our "meals and entertainment" expenses before taxes from each check. Do I need to consider this when filing on form 1040ez?

I don't understand this... Why would they deduct food and entertainment from your pay check when YOU can deduct them from your taxes at the end of the year? State, fed, L&I, medical, 401k should be the only thing they take out.

Mess with my brother, mess with my friend, but don't you dare mess with my money.

shyykatt · #7 01-24-2007, 02:00 AM

I don't understand that either- typically you just save all your receipts and deduct them at the end of the year; maybe its different for some companies, but I've really never heard of that before.

Crackaces · #8 01-24-2007, 02:06 AM

derelict77 .. if I remember you made about 38K and worked a full year. In order to deduct all the per diem you will need to file a long form. Also you probably have other expenses that can be deducted if over 3% AGI. (After per diem I suspect your 3% will be around 600 - 800 bucks.)

The per diem replaces your standard deduction so you can not file an EZ form ...

ssoutlaw · #9 01-24-2007, 02:09 AM

Get a good tax person, one who works with the trucking business. If you run hard through the year, you will easily have more than the standard deduction with road expenses. Then you have motels, cleaning supplies for the truck, any medical expenses, certain clothing, radios, radio repair etc. Its always good to have a pro, who knows your type of business do your taxes. I just had mine done today, cost 165.00 for mine and my sons, with e file into my bank acct. Also remember they changed the amount you can make to get earned credit income, now its I guess 38,600 which helps you get more back on a bad year. I have been off for around 5 months of this year due to knee surg. and finally get to see what the earned credit income credit is all about, and they don't even count the weekly payments work comp gives you...lol I guess I get a little for all the decades I have paid in...lol I guess I will live high this year on the systems money....Yea right...lol

ssoutlaw · #10 01-24-2007, 02:15 AM

Quote:

Originally Posted by Crackaces

derelict77 .. if I remember you made about 38K and worked a full year. In order to deduct all the per diem you will need to file a long form. Also you probably have other expenses that can be deducted if over 3% AGI. (After per diem I suspect your 3% will be around 600 - 800 bucks.)

The per diem replaces your standard deduction so you can not file an EZ form ...

I have never took the per diem from a company, I tell them to keep it. I think its to messy at the end of the year.