Tax Deductions for drivers

[Jazzy]

Does anyone know where I might be able to find a list or something that would tell me items that are or might be deductable on your tax return for a company driver not an owner/operator that I need to be keeping up with?

[Big_Dave]

Does anyone know where I might be able to find a list or something that would tell me items that are or might be deductable on your tax return for a company driver not an owner/operator that I need to be keeping up with?
Here's a pretty complete list for any driver, company or owner operator.

You just gotta sort through it and find the items which you buy for yourself to do your job.

http://www.truckstopusa.com/forums/viewtopic.php?t=14612

There's also a thread going on the Roundtable about deductible items.

http://www.truckstopusa.com/forums/viewtopic.php?t=19875

[Uturn2001]

The short version is that you can deduct all or part of anything you use to get the job done that is not reimbursed by your employer.

With the exception of your meals, you will need to keep receipts for everything you plan on deducting.

When I say part of something what I mean is something like a cell phone. For example you use your personal cell phone roughly 10% of the time for work related calls. You can deduct 10% of your cell phone bill each month.

Clothing is a big iffy issue. The safe way to know if you can deduct it or not is if it is something specific used on the job then yes. Uniforms, safety equipment, etc would be a yes. Your average jeans and shirts from Wal Mart would be a no.

NOTE: Unless you already itemize your tax return you may be better off taking the standard tax deduction. In 2007 according to form 1040 EZ it is $8750 for a single or $17,500 if married filing a joint return. So your total deductions will need to be more than that to come out ahead.

Every person's tax situation is different, but I never spent enough to be able to itemize my tax return and do better than the standard deductions when I was on the road. My entire career was as a company driver. I did keep all receipts and log books and took the time to figure out what my itemized deductions were each year though just in case.

To make things easier come tax time what I suggest doing is getting 12 large manilla envelopes and mark each one with a different month and put all your receipts for that month into the appropriate one. At the start of the next month add up those receipts and write the total of your deductible expenses on the front as well as how many days of meal allowances you can claim. Then put that months log book into the envelope. (If you work for a company that uses paperless logs either get a copy of your logs from them or run a paper or computer log through out the month though keep in mind that the DOT can audit those records if they find it during an inspection so be accurate.) By doing this at the end of the year it will be a quick and simple task to add up everything and know where you stand.

Note: To claim your meal allowance you can either claim actual expense and keep your receipts or you can take the standard meal deduction and use your log books as proof to the entitlement.

If you do use the itemized deductions you will need to be sure to keep all your receipts and log books with the rest of your tax paperwork for 7 years.

[Jazzy]

Thanks for all the info, that helps out. I am new to the truck driving industry - well my husband is the driver and I will keeping up with all the books or receipts he brings home. So I am trying to figure out what all I need to be keeping up with. I told him for now just keep every receipt that he purchases and we will find out later if we need it or not.

[banditocincoocho]

To the top!!!!!
Not too early to start thinking about the dreaded tax season...
Or more to the point, time to start preparing!
:Trucker:

[Uturn2001]

IMHO the real time to have start preparing for this tax season was before Jan 01, 2008.

[terribee]

Well I'm 95 percent done on gathering up my receipts and having receipts sent to my house. My taxes aren't to bad this year but can you guys give me that list of deducts again? I clicked on the link and it's not there. I just need to double check something important.

[Uturn2001]

http://www.truckstopusa.com/forums/showthread.php?t=14006

[BabyGirl12021202]

Does anyone know where I might be able to find a list or something that would tell me items that are or might be deductable on your tax return for a company driver not an owner/operator that I need to be keeping up with?

my husband and i used trucker home office in el paso tx for taxes!! very nice ppl and they do a really good job!! im new to all of this but i do know that you can claim just about anything. shirts, hats, jackets, and coats have to have the company logo on it!! you could have had this logo put on them! all school supplies you can claim, some cleaning supplies, etc. since i have had ours done i have looked for a list because i am new to this and i have not found a list that has helped me like the ppl at the accounting firm has!! good luck and like i said if i was you i would get ahold of the ppl at the truckers home office in el paso!!!