mare
February 6th, 2007, 13:51
OFFICE SUPPLIES
Paper
Pens/Pencils
Log Books/Binders/Covers
Staples/Staples
Reading Glasses
Receipt Books
Calculators
Notebooks
First Aid Kits
Laptop Desk
Liquid Paper
Breif Cases
Corn-Data, TCH and Various Check fees Money Order Charges
Bank ATM Charges
Bank Service Charges for Business Checking Account only
Other Miscellaneous Expenses
^Satellite System Installation Charges
^Satellite Removal (When Leaving Company)
Truck Sign Installation
*Truck Sign Removal (When Leaving
Company)
*Cell Phone Monthly Charges (Business
Phone Only) If you Carry only 1 Phone you
can only use the business calls that you make as a deduction that would be based on
Percentage Basis.
Personal Calls are not an Allowable Deduction
Cell Phone Accessories
CB Accessories
Gifts- Limited to $25. 00 Per Person Business Only
Camera- Limit $50. 00 to be used just in case of Accident
Ladies/ Man's Watch- Limited to $25. 00 each
Total Showers (Normally 1/2 of Logged Days) get receipts if available
Laundry (Written proof of doing Laundry)
Motels (Anytime) while on truck
Entertainment
Movie's
Roller Skating, ETC
Must be on Layover for entertainment to be deducted
This List is supplied for your information on the allowable deductions that can be claimed on your Federal Income Tax Forms.
Sole-Proprietor/Owner Operators Use Schedule C as part of your Personal 1040, Single owner LLC’s
Company Drivers
Use form 2106, And Sch. A. as part of your Personal 1040
Partnerships, LLC’s
Federal Form 1065
Regular Corporations,
Federal form 1120
Federal form 1120 "S",
Corporations
Federal form 1120S
YOU MUST HAVE RECEIPTS FOR ALL PURCHASES OF ITEMS $ 75.00 OR MORE. ITEMS THAT ARE UNDER $ 75.00 RECEIPTS ARE NOT REQUIRED, BUT A RECORD OF THE EXPENSES LISTING, AMOUNT, DATE, AND FOR WHAT FOR EACH DAY YOU LOG OR ON THE ROAD. ALL RECEIPTS AND LOG BOOKS MUST BE RETAINED IN YOUR RECORDS FOR A PERIOD ON NO LESS THAT 3 YEARS MINIMUM TO A MAXIMUM OF 10-15 YEARS FROM THE FILING DUE DATE OF APRIL 15TH UNLESS EXTENSION'S WERE GRANTED. THIS IS TO SUBSTANTIATE YOUR DEDUCTIONS IF AUDITED
Revised 7/1/2005
TRUCK DRIVERS ALLOWABLE DEDUCTIONS
This brochure was prepared by a tax professional who was also an Owner Operator and Company Driver
FRANKLIN KATZ. ATP
FRANK'S TAX
AND
BUSINESS SERVICE
226 S. Cherokee St. Suite D
Kings Mountain, NC 28086
Phone: (704) 739-4039
Fax: (704)739-3934
Cell: (704)-300-5143
E-Mail: Fkatz1@aol.Com
Web Site www. 1040. com/frankstax
Allowable legal deduction for truck drivers
Drivers License Fees ( CDL)
Transportation costs to your Job or to pick up a Truck by Public Transportation
All Medical Exams and Drug tests pertaining to D. O. T. regulations.
Total Day Logged Out Per Month
MAJOR EXPENSES
SHOULD BE DEPRECIATED OVER
A PERIOD OF 3-7 YEARS
DEPENDING ON ITEM
Tractor/Trailers
Straight Trucks W/ 18-24ft Boxes or Flat
Bed
Cargo Vans with 12-16 Ft Boxes
Standard Cargo Vans
Desk or Laptop Computer
Printer
CB Radio
TV
TV/VCR Combo
Satellite Radios
GPS Systems
Cell Phones only
Power Inverters
Microwave Ovens
Refrigerators/Coolers
Generators
Heating Units
Tandem Axle
Lift Gates
Plus any other items over $100. 00
THE FOLLOWING ITEMS MUST BE LISTED SEPARATELY
Truck interests
Truck payments
Lease Payments
Insurance
Liability, Collision.
Comprehensive
Bobtail
Cargo
Occupational
Workmen's Compensation
Fuel
Repairs & Maintenance
Additional Fluids ( Oil & Additives only) Tires
Truck Washes/Washouts Escrow Paid Deposits Paid
Other Miscellaneous Supplies
TRUCK SUPPLIES
Cab Curtains
Crow Bars
Ratchet Bars & Straps
Bun gee Cords
Porti-Potty
Work Gloves
Load Locks
Floor Mats
Tarps
Jumper Cables
Tow Bars
Towing Chains
Tire Chains
First Aid Kits
Fuses
Jack Straps
Pallet Jack
Furniture Blankets
Dolly
CB Antennas
MISC. TRUCK SUPPLIES PERSONAL
Air fresheners Alarm Clock Ben-gay Boot/Shoe Repair
Hand Cleaner
Power Boosters/Cord
Circuit Testers
New Mattresses
Sheets/Pillow Cases
Pillows
Sleeping Bags
Seat Covers
Duck Tape
WD40
Either
Hard Hat/Safety Glasses
Tie Down Straps
Fuses
Steel Toed Boots
Bunk Heater/Fans
CB Repairs
Miscellaneous Hand Tools
Dress up Supplies
Chrome Wheel Nuts
Hub Caps
Carpet
Ice Scrapers/Melt
Misc. Personal items
Rain Gear
Windex, Paper Towels
Armor All
Portable Vacuum
Disinfectant
Audio Books/VCR Tapes
Reading Glasses
Film & Developing (in case of an
accident)
Pots/Pans
Travel & Laundry Bag
Towels
Toiletries
Thermos
Flashlight
Thermal Underwear
Cell Phone Accessories Company Shirts (Must Have Logo)
2 Pair Dickies Work Pants
BASICALLY YOU CAN DEDUCT ALL ITEMS THAT YOU USE ON THE TRUCK PERIOD. BUT TRY AND GROUP THEM WITHIN THE SUBTITLES
Paper
Pens/Pencils
Log Books/Binders/Covers
Staples/Staples
Reading Glasses
Receipt Books
Calculators
Notebooks
First Aid Kits
Laptop Desk
Liquid Paper
Breif Cases
Corn-Data, TCH and Various Check fees Money Order Charges
Bank ATM Charges
Bank Service Charges for Business Checking Account only
Other Miscellaneous Expenses
^Satellite System Installation Charges
^Satellite Removal (When Leaving Company)
Truck Sign Installation
*Truck Sign Removal (When Leaving
Company)
*Cell Phone Monthly Charges (Business
Phone Only) If you Carry only 1 Phone you
can only use the business calls that you make as a deduction that would be based on
Percentage Basis.
Personal Calls are not an Allowable Deduction
Cell Phone Accessories
CB Accessories
Gifts- Limited to $25. 00 Per Person Business Only
Camera- Limit $50. 00 to be used just in case of Accident
Ladies/ Man's Watch- Limited to $25. 00 each
Total Showers (Normally 1/2 of Logged Days) get receipts if available
Laundry (Written proof of doing Laundry)
Motels (Anytime) while on truck
Entertainment
Movie's
Roller Skating, ETC
Must be on Layover for entertainment to be deducted
This List is supplied for your information on the allowable deductions that can be claimed on your Federal Income Tax Forms.
Sole-Proprietor/Owner Operators Use Schedule C as part of your Personal 1040, Single owner LLC’s
Company Drivers
Use form 2106, And Sch. A. as part of your Personal 1040
Partnerships, LLC’s
Federal Form 1065
Regular Corporations,
Federal form 1120
Federal form 1120 "S",
Corporations
Federal form 1120S
YOU MUST HAVE RECEIPTS FOR ALL PURCHASES OF ITEMS $ 75.00 OR MORE. ITEMS THAT ARE UNDER $ 75.00 RECEIPTS ARE NOT REQUIRED, BUT A RECORD OF THE EXPENSES LISTING, AMOUNT, DATE, AND FOR WHAT FOR EACH DAY YOU LOG OR ON THE ROAD. ALL RECEIPTS AND LOG BOOKS MUST BE RETAINED IN YOUR RECORDS FOR A PERIOD ON NO LESS THAT 3 YEARS MINIMUM TO A MAXIMUM OF 10-15 YEARS FROM THE FILING DUE DATE OF APRIL 15TH UNLESS EXTENSION'S WERE GRANTED. THIS IS TO SUBSTANTIATE YOUR DEDUCTIONS IF AUDITED
Revised 7/1/2005
TRUCK DRIVERS ALLOWABLE DEDUCTIONS
This brochure was prepared by a tax professional who was also an Owner Operator and Company Driver
FRANKLIN KATZ. ATP
FRANK'S TAX
AND
BUSINESS SERVICE
226 S. Cherokee St. Suite D
Kings Mountain, NC 28086
Phone: (704) 739-4039
Fax: (704)739-3934
Cell: (704)-300-5143
E-Mail: Fkatz1@aol.Com
Web Site www. 1040. com/frankstax
Allowable legal deduction for truck drivers
Drivers License Fees ( CDL)
Transportation costs to your Job or to pick up a Truck by Public Transportation
All Medical Exams and Drug tests pertaining to D. O. T. regulations.
Total Day Logged Out Per Month
MAJOR EXPENSES
SHOULD BE DEPRECIATED OVER
A PERIOD OF 3-7 YEARS
DEPENDING ON ITEM
Tractor/Trailers
Straight Trucks W/ 18-24ft Boxes or Flat
Bed
Cargo Vans with 12-16 Ft Boxes
Standard Cargo Vans
Desk or Laptop Computer
Printer
CB Radio
TV
TV/VCR Combo
Satellite Radios
GPS Systems
Cell Phones only
Power Inverters
Microwave Ovens
Refrigerators/Coolers
Generators
Heating Units
Tandem Axle
Lift Gates
Plus any other items over $100. 00
THE FOLLOWING ITEMS MUST BE LISTED SEPARATELY
Truck interests
Truck payments
Lease Payments
Insurance
Liability, Collision.
Comprehensive
Bobtail
Cargo
Occupational
Workmen's Compensation
Fuel
Repairs & Maintenance
Additional Fluids ( Oil & Additives only) Tires
Truck Washes/Washouts Escrow Paid Deposits Paid
Other Miscellaneous Supplies
TRUCK SUPPLIES
Cab Curtains
Crow Bars
Ratchet Bars & Straps
Bun gee Cords
Porti-Potty
Work Gloves
Load Locks
Floor Mats
Tarps
Jumper Cables
Tow Bars
Towing Chains
Tire Chains
First Aid Kits
Fuses
Jack Straps
Pallet Jack
Furniture Blankets
Dolly
CB Antennas
MISC. TRUCK SUPPLIES PERSONAL
Air fresheners Alarm Clock Ben-gay Boot/Shoe Repair
Hand Cleaner
Power Boosters/Cord
Circuit Testers
New Mattresses
Sheets/Pillow Cases
Pillows
Sleeping Bags
Seat Covers
Duck Tape
WD40
Either
Hard Hat/Safety Glasses
Tie Down Straps
Fuses
Steel Toed Boots
Bunk Heater/Fans
CB Repairs
Miscellaneous Hand Tools
Dress up Supplies
Chrome Wheel Nuts
Hub Caps
Carpet
Ice Scrapers/Melt
Misc. Personal items
Rain Gear
Windex, Paper Towels
Armor All
Portable Vacuum
Disinfectant
Audio Books/VCR Tapes
Reading Glasses
Film & Developing (in case of an
accident)
Pots/Pans
Travel & Laundry Bag
Towels
Toiletries
Thermos
Flashlight
Thermal Underwear
Cell Phone Accessories Company Shirts (Must Have Logo)
2 Pair Dickies Work Pants
BASICALLY YOU CAN DEDUCT ALL ITEMS THAT YOU USE ON THE TRUCK PERIOD. BUT TRY AND GROUP THEM WITHIN THE SUBTITLES