tax writeoffs
hey whats up? i know tax season is a little far away but im wondering how tax writeoffs work, i know you get soo much perday and all but what about everything else. like i am keeping all scale reciepts and all even tho swift reembursts me... gov dont need to know that, i have saved receipts for everything down to the polos i keep in my truck for uniforms and batteries for my flashlights, how about you guys? im thinking im gonna get a good return this year, anyone have any examples? im a company driver with the great company with the blue and gold "S"........ best in class lol
----frank---- |
Well if you opted out for company per diem then you don't get to write anything off. Unless your a O/O or L/P there is very little you can write off as a company driver, especially if your company reimburses you for most expenses.
|
Very little? Check again.
|
I said if you opt out for company per diem there is very little to write off, if not then you can write everything off. If your a company driver you can write off meals, tools, showers, logs, maps, accessories, scales, tolls. As a company driver you don't get to write off the same things a O/O gets to since the company provides everything and a per diem everyday. I'm sure you can find a sleazy accountant that will have you writing off that $500 GPS and that new TV but if you get audited then good luck to you, better save those logs and receipts. My accountant said they're pretty strict with company drivers anymore, no different than a regular traveling employee.
|
Quote:
You can deduct just about everything you spend on the road or on the truck, Toss the scale tickets, no sense in sending up a red flag. Stick with the real/legal stuff. Ex. per deim ( The big one!) 85% of $52 a day gloves boots work clothes tools battiers lights hotels Faxing calling cards ect. I think there cutting back on the cell phone use so be carefull there. Sorry but your meals fall under the per deim so can't claim them twice. |
Quote:
FORGET H R Block and the other cookie cutter tax places! |
Quote:
|
Quote:
See IRS publication 463 for more information on the meal allowance, as well as what items are deductible when traveling away from home. Whoever told you this stuff doesn't have a clue what they are talking about. |
I called my friend Aaron over at Knight, the reason he got nailed was because he didn't save his logs and certain receipts for the past 3 years and wrote everything off. So in other words he had no proof he was on the road at those times. Just gotta save those things in case the tax man comes calling. Don't get me wrong, I write everything off within reason every year.
|
Quote:
It's all about WHAT YOU CAN PROVE. You'd be AMAZED what you can write off - as long as you can PROVE IT... Rick |
All times are GMT. The time now is 06:32 AM. |
User Alert System provided by
Advanced User Tagging v3.3.0 (Lite) -
vBulletin Mods & Addons Copyright © 2024 DragonByte Technologies Ltd.