Ms office 2003 free download for windows 10 with product key. Feb 11, 2019 The most you can deduct for meal expenses is 50% of your claim (unless you are a long-haul truck driver claiming meals for an eligible trip, as explained in Meal expenses of long-haul truck drivers). For example, if you use the simplified method, which is based on a daily meal rate of $17 (includes sales tax) per meal, the most you can deduct is $8.50 ( $17 x 50% ) for each meal.
- The 15 Tax Deduction Truck Drivers Can Take. Truck drivers are allowed to deduct business expenses that are “regular and necessary” by the IRS. While these expenses vary as per the individual, some expenses are standard. 1) Meal Expenses. You can deduct the cost of your meals that you incur when you are at work, away from home.
- If you are a long-haul truck driver and you incur meal and accommodation expenses, you can deduct a portion of these expenses on your income tax return. However, before claiming these expenses, it's important to ensure you meet the eligibility requirements and understand how to correctly deduct these expenses.
Meal and beverage expenses of long-haul truck drivers are deductible at a higher rate than the 50% permitted for other transportation employees. During eligible travel periods in 2018, meal and beverage expenses are deductible at 80%.
Missions for fsx free download demo. You are a long-haul truck driver if you are an employee whose main duty of employment is transporting goods by way of driving a long-haul truck, whether or not your employer's main business is transporting goods, passengers, or both.
A long-haul truck is a truck or tractor that is designed for hauling freight, and has a gross vehicle weight rating of more than 11,788 kg.
An eligible travel period is a period during which you are away from your municipality or metropolitan area (if there is one) for at least 24 hours for the purpose of driving a long-haul truck that transports goods at least 160 kilometres from the employer's establishment to which you regularly report to work.
For information on how to deduct your meals and lodging expenses, see Meals and lodging (including showers).
If you travel to the United States for your work as a transport employee, see Trips to the United States.
Tax Services for Truckers
| Company Name | Price | Accountants or Tax Prep? | Website |
|---|---|---|---|
| Transportation Accounting Services 763-493-8784 | Full Tax & Bookkeeping: $210 per quarter Full Pricing List | Both | Website |
| TruckerTaxes.com 763-447-3991 | Complete Tax Preparation: $225.00 Full Pricing List | Both | Website |
| eTruckerTax 888-234-3485 | Free Consultation | Both | Website |
| Larsen & Associates 402-891-1040 | Call for info | Both | Website |
There are are number of fees and expenses related to trucking that are tax deductible, and a well-organized trucker takes all tax deductions available.
Drivers, when you’re doing taxes, Don’t Forget These Deductions:
Access Fees:
- Internet (Cell phone data plans)
- Satellite (Qualcomm, Sirius/XM)
Administrative Fees:
- ATM Fees
- Check Reorder Fees
Association Dues
Healthy Meals For Truck Drivers
- OOIDA, Teamsters, etc
ComData/ComCheck Fees:
- Computer Software
- Credit Card Fees
Cleaning Supplies:
- Window Cleaner
- Paper Towels
- RainX
Interest:
- Business Loan
- Credit Card
Office Supplies:
- Pens, Pencils, Paperclips, Envelopes, Folders, Rubber Bands
Medical Exams
- DOT Physical
- Drug Tests
- Sleep Apnea Study
Postage Fees:
- For Mailing Invoices, Bills of Lading, etc…
Real Estate Expenses:
- Mortgage interest
- Mortgage prepayment penalties
- Penalties of early withdrawals
- Points on principal residence financing
- Real estate taxes
Safety Gear
- Steel-toe boots
- Work Gloves
- Cargo straps
Trucking & Business Related Subscriptions
- Load board subscriber fees
- Trucking industry magazines
Uniforms
- Dry Cleaning Costs for your uniforms or protective clothing
Don’t make the same mistake as many truck drivers, falling into the trap of trying to claim too much and ending up with an audit. Here are some non-deductible expenses that many truckers’ need to leave off:
NON-Deductible Expenses:
Deductible Meals For Truck Drivers
- Expenses that were reimbursed by your employer
- Clothing that is adaptable to everyday wear
- Commuting costs (tolls, gas, parking)
- Home phone line
- Interest on personal loans
- Personal vacations
Special Notes For Owner-Operators:
Truck Driver Meal Expense Deduction
- You CANNOT deduct the time you incur from working on your own equipment
- You CANNOT deduct the income lost as a result of deahead/unpaid mileage, ONLY the expenses incurred to operate the truck during that time such as fuel, tolls and scales. etc.
- You CANNOT deduct for downtime
Note: Your tax situation is unique. This article does not give nor is it intended to give specific tax advice. Please confer with your own licensed tax/accounting professional.
Tax Services for Truckers
| Company Name | Price | Accountants or Tax Prep? | Website |
|---|---|---|---|
| Transportation Accounting Services 763-493-8784 | Full Tax & Bookkeeping: $210 per quarter Full Pricing List | Both | Website |
| TruckerTaxes.com 763-447-3991 | Complete Tax Preparation: $225.00 Full Pricing List | Both | Website |
| eTruckerTax 888-234-3485 | Free Consultation | Both | Website |
| Larsen & Associates 402-891-1040 | Call for info | Both | Website |
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