-- Tax Deductions for Professional Truck Drivers Every year, professional truck drivers search for tax deductions that they can claim when they file their income taxes. Have updated this page in 2012 for the 2011 tax year to help you as you prepare your trucker taxes. Since we first published this page, has made a change within the trucking industry from being a regional driver to a. The deductions for tax purposes are the same, but Mike won't take as many as he used to because he is not on the road overnight and he does not eat restaurant meals (as a general rule) during the course of his work days. (Yes, Vicki packs lunch for him to eat each day.) Your own situation with truck driver taxes may vary greatly depending on the nature of your work and where you live. Besides our standard, we are providing the information below with the additional disclaimer that • we are not CPAs, accountants or bookkeepers, • the rules regarding what qualifies for filing may change from year to year, • owner operators (drivers who own their trucks or their own trucking business) may be able to deduct more expenses than company drivers, and • you will need to double-check all planned tax deductions for yourself. According to Wikipedia, 'A tax deduction or a tax-deductible expense affects a taxpayer's income tax.

Distracted driving is a problem in the New Orleans area and all throughout the country. Most people probably agree that safe driving requires concentration on the road and not on other things like eating, playing with the radio or talking on a cellular phone. But, just because people understand this does not. Distracted drivers kill around 6,000 people per year, and commercial drivers make up a large percentage of those involved in devastating vehicular accidents. Laws are in place that make handheld devices (such as cell phones), and any distracting and potentially dangerous behaviors that can be. Truck and bus companies that allow drivers to use hand-held cell phones while driving will face a maximum penalty of $11,000. FMCSA research shows using a handheld cell phone while driving requires “several risky steps” beyond what is required for a.

[It] represents an expense incurred by a taxpayer. They are variable amounts that you can subtract, or deduct, from your gross income.

It is subtracted from gross income when the taxpayer computes his or her income taxes. As a result, the tax deduction will lower overall taxable income and thus lower the amount of tax paid.' (1) There are many items that professional truck drivers use in the course of their work that can legitimately be claimed as a tax deduction. Standard Deduction?

Mike says that in the past, he has generally always filed with a standard deduction as we did not have enough to itemize. Truckers who are should look at all of their deductions to see if itemizing helps. Just as the old-time gold prospectors used to proclaim, 'There's gold in them thar hills,' Mike says that 'there is money in those receipts.' This refers to the purchases that he makes on the road during the course of a year. Why take a standard deduction if itemizing will allow you to lower your taxable income for income tax purposes?

If you could lower your tax bill, wouldn't you? Record Keeping Our first piece of advice (even if you can only use it this year for next year's taxes) is to keep all of your receipts in a well-organized file.

Vicki uses an expandable file folder like the one shown. If the files became excessively thick, requiring a larger file folder, she might try one like the Wilson Jones ColorLife Expanding File with Flap, A-Z Index, 10 x 12 Inches, Letter Size, Dark Blue.

Inside the expandable file folder, you may wish to have separate files or envelopes for deductible and non-deductible expenses. We recommend that as a receipt is obtained, you file it with any notes regarding how it may affect taxes. Mark Summerfield - Python Programmazione Avanzata Ebook - I. Maramon Convention 2014 Songs 2012 Free Download more. Helpful hint: Do not just throw your receipts in an old box or bag to sort through at the end of the year.

Trust us, you won't remember where you bought things or what the receipts were for! If you have an accountant, he or she won't have a clue either. Organize as you go for efficiency.

We cover record keeping in more detail. What We Have Deducted in Years Past • We deducted the cost of membership in the Owner Operators Independent Drivers Association (OOIDA) each year we have been members. • A CB radio, an, a camera, a, an, paid for out of pocket, paid for out of pocket, a new, a new, a, and cell phones are all items that we have claimed as tax deductions in years past. • We did not deduct cell phone service because most of the usage on our phones was (and still is) personal, not for business purposes. Furthermore, in addition to getting a certain number of minutes per month for non-network calls, Mike has our cell phone service plan set to where we can call up to 10 different non-network phone numbers for free. He has decided that one of them is his employer's phone number. Truck and Trucking Expenses In the past, Mike's have paid for his DOT medical exams and everything associated with truck and trailer purchases and services.