Toll Free: 855-572-HELP (4357) LIST OF OVER 200 IRS TAX DEDUCTIONS FOR TRUCKERS 2572 Aloma Ave. Suite 2088, Oviedo FL 32765 Toll Free: 855-572-HELP (4357) Website: TruckerTaxHelp.com Let our team of Retired IRS Agents and tax experts prepare your tax return or solve your tax problem. March 2015 Version 1.0
DEDUCTING BUSINESS EXPENSES Business expenses are the cost of carrying on a trade or business. These expenses are usually deductible if the business operates to make a profit. WHAT CAN I DEDUCT? To be deductible, a business expense must be both ordinary and necessary. An ordinary expense is one that is common and accepted in your trade or business. A necessary expense is one that is helpful and appropriate for your trade or business. An expense does not have to be indispensable to be considered necessary. It is important to separate business expenses from the following expenses: The expenses used to figure the cost of goods sold, Capital Expenses, and Personal Expenses. PERSONAL VERSUS BUSINESS EXPENSES Generally, you cannot deduct personal, living, or family expenses. However, if you have an expense for something that is used partly for business and partly for personal purposes, divide the total cost between the business and personal parts. You can deduct the business part. For example, if you borrow money and use 70% of it for business and the other 30% for a family vacation, you can deduct 70% of the interest as a business expense. The remaining 30% is personal interest and is not deductible. BUSINESS USE OF YOUR HOME If you use part of your home for business, you may be able to deduct expenses for the business use of your home. These expenses may include mortgage interest, insurance, utilities, repairs, and depreciation. BUSINESS USE OF YOUR CAR If you use your car or truck in your business, you can deduct car and truck expenses. If you use your car or truck for both business and personal purposes, you must divide your expenses based on actual mileage.
LIST OF OVER 200 IRS TAX DEDUCTIONS FOR TRUCKERS COMMON TRUCK EXPENSES Fuel Repairs& Maintenance Tires Per Diem - $59 per Oil/Filters/Lubrication Tags/Licenses Trucking Insurance Factoring fees Load Broker fees Scales Commission & Fees Contract Labor (Get copy of license and SS card) Strapping Bunge Cords Load Chains Load Bars Load Straps Locks Wide Load Flags Truck Washes Parking &Tolls Road Use Tax Truck Finance Charges Trailer Lease Payments Truck Lease Payments Worker's Comp Lumpers pay by check and issue form 1099 Depreciation expense GPS Unit Postage, UPS, Fed Ex Maps Computer Computer software Accounting & tax fees Incorporation fees OTHER TRUCKER EXPENSES Legal/Professional Fees Office Expenses Rent Machinery/Equip Dues & Publications Union Dues Bank Service Charges Faxes Interest Gifts Limit $25 IRA & SEP retirement plans Publications Access fees ATM Fees Computer expenses Computer software Credit card fees Internet Trucking Subscriptions Professional Supplies Com Check Fees Annual DOT Physical Drug tests Health Insurance Cleaning Supplies Hygiene Supplies Medical Supplies
Electronics Tools Appliances Misc. Supplies ADVERTISING EXPENSE Ads in Magazines & Newspapers Banners Business Cards Clothing with Logos Items with logos cups, calendars, pens, etc. Printing expense Promotional activities Signs Website design Website hosting Supplies air cleaners Tires Tolls Tools Towing charges Warranty AUTO BUSINESS EXPENSE MILEAGE 57.5 CENTS A MILE DIARY REQUIRED Any car trip that is business related includes Trip to the bank for deposits & business Trips to purchase truck supplies Business travel Client meetings Business promotion Business entertainment AUTO BUSINESS EXPENSES ACTUAL RECEIPTS REQUIRED AAA Auto club Auto Insurance Auto License, registration Auto Loan interest Auto Repairs Car vacuum Car wash & detail Depreciation expense Garage fees Gas GPS Unit Jumper cables Lease business portion Oil change Parking fees STP oil treatment CLEANING SUPPLIES Air freshener Armor-All Broom & Dustpan Hand Cleaner Paper Towels Portable Vacuum Trash Bags Window Cleaner ELECTRONICS Antenna Atlas CB Radio CB Repair Cellular phone Cellular Headphone Cellular wireless fees GPS unit
GPS Map Updates Power boosters Power cords Sirius/XM Radio fees Sirius XM Radio Cigarette plugs Circuit Tester TRUCK SUPPLIES Bunk Heaters & Fan Cooler/Cooler Motor Disinfectant De-Icer Ice Map Lamp Window screen Tools Buffer Crowbar Duct Tape Electrical Tape Flashlights Hammer Hand Cleaner Pliers Screwdrivers Tire Iron Wrenches Other small tools Business portion of Real estate taxes Depreciation expense of business portion Utilities business portion Alarm system Alarm system fee Computer Battery backup Business Insurance Cable TV Cleaning Service Cloud service fees Computer maintenance and repair Computer storage device Computer supplies and software Convention fees & travel Merchant fees - Credit card E Fax service Employee meals Faxing fees Internet Log me in fees Music system for office Website fees Website hosting Optimize Website fees Paper Rent Stationary Storage fees Text messaging & SMS fees Trash bags VOIP Skype, Vonage, Magic Jack, etc. OFFICE & OFFICE IN HOME EXPENSE BUSINESS PORTION Alarm system & fees Rent Business portion of Mortgage interest Business portion of Mortgage insurance
OFFICE FURNITURE & EQUIPMENT Cabinets Chairs Copy machine Cost of office phones Desk Equipment warranties Fax Machine Furniture & rental Lamps Microwave Office decorations Office Rug Steamer Office Vacuum Paper Shedders Printers Radio Refrigerator Tape recorder Toaster TV or video system MISC. SUPPLIES Laundry soap Uniform alterations PROTECTIVE CLOTHING Boots Hard hat Rain gear Safety Glasses Thermal Underwear Gloves FEES ATM Fees CDL Driver License Check Cashing fees ComCheck Fees Copy/fax fees DOT Physical Drug Testing Factoring fees Parking fees Weight Charges & fees Hazmat Background Check Alarm Clock Bedding Cab Curtains Coffee Maker Fly Swatter Lap desk Refrigerator Tupperware/storage bins Thermos Bottle First Aid Supplies Hangers Laundry bag DRIVER HYGIENE Ben Gay Showers Shower Shoes Vaseline Laundry Dry Cleaning
MISC. EXPENSES Job hunting expenses Resumes Retirement contributions IRS, Keogh, SEP State Disability Fund Tax Planning & Advice OFFICE SUPPLIES Atlas Briefcase Calculator Clipboard Liquid Paper/White out Log Books Log Book Covers Maps Notebook Paper Pens & pencils Stapler TRANSPORTATION EXPENSES Air fare Bus fare Cab fare Cab Fees Car Rental Dry Cleaning Garage Fees Hotels/Motel Meals Parking Per diem rate Public Transportation Telephone calls Tips taxi, bell cap, etc TAX HELP FOR TRUCKERS TAX PREPARATION AND TAX PROBLEM SERVICES At TRUCKER TAX HELP, we offer solutions to your tax problems. We are Enrolled Agents (EA), CPA and retired IRS agents that have been representing clients in front of the IRS and state tax authorities for many years. Tax is what we do. We understand the weight that a tax problem can bear on your family, your livelihood, and yourself and we strive to deliver the relief you deserve in an effective and timely manner. We are a firm dedicated exclusively to IRS taxation and based in Florida serving the surrounding multi-state area. Our education, size, experience, and stability allow us to deliver the personal attention and expert analysis your tax problem deserves. We can help you with your tax problem, including: Disclosing Offshore Accounts, Liens, Levies, Offers in Compromise, Payroll Tax problems, Audits, Penalty Abatement, Bankruptcy Advice, Innocent Spouse protection, and filing delinquent tax returns. We are not a fly-by-night operation (retired IRS agents and Enrolled Agents). We pride ourselves on our longstanding tradition of providing taxpayers with the best representation services we can deliver. We offer
you the uncommon opportunity to speak with a Retired IRS Agent, in person for a free evaluation before choosing our firm to serve your tax needs. We encourage you to be discerning in your choice of tax professionals. You can rely on us to represent you. WHY USE OUR TAX PROBLEM SERVICES? Here are some reasons why you should use our proven IRS Tax Problem Services. You are hiring an experienced team of IRS Enrolled Agent tax experts who practice taxation services yearround. This license is earned through extensive examination and satisfactory background checks. There are only about 46,000 EAs licensed by the U.S. Treasury IRS, and they are licensed to practice before the IRS in all 50 states. The fees charged by TRUCKER TAX HELP are often much lower than other tax resolution companies. We offer a Money Back Guarantee. If we cannot resolve your tax problem, we will return your money and you will pay nothing for our services. But most importantly, you can be confident that TRUCKER TAX HELP will provide a high level of personal attention to your IRS representation needs.