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- HOW DO I GO BACK AND SAVE MY 2017 TURBO TAX RETURN DRIVER
- HOW DO I GO BACK AND SAVE MY 2017 TURBO TAX RETURN SOFTWARE
For instance, since you have a house or apartment to sleep in at home, when you are away you take the lodging rate. The rule is if you are duplicating expenses that you normally bear at your tax home. From time to time you just have to sleep in a bed and get a shower, so they do not get on you too much when you take the occasional motel room. Uncle Sam does not let you take standard per diem for lodging if you have a sleeper since you haul your lodging around with you. I would not want to try and coach you through one of those… ? Hope this helps. If you have a partnership, LLC with more than one shareholder and the shareholders are not married, or sub S (not many of those out there) find a tax guy.
HOW DO I GO BACK AND SAVE MY 2017 TURBO TAX RETURN DRIVER
As a 1099 driver – OO – you take it off your schedule C. Finally, as a company driver it goes on IRS form 2106, reimbursed business expense. If you are a DOT driver (sucject to the rest rules of DOT) then you take 80% of that. Anyhow, since you are in transportation you get $59/day without receipts. You might leave a little money on the table, like a real little money. Technically you are supposed to knock a portion of the day off at the beginning and the end of each trip for that portion of the day in which you arrived or left, but most people just knock a day off the trip and call it even. You get $59/day for meals and incidental expenses for every night you were on the road, essentially. Sort of a busy time for a tax guy.Īre you a company driver or an OO (or leased)? They are about the same but they go in different places for each one. Regardless, you should be able to find someone who can steer you in the correct direction if you have questions.ĭid you get your question answered? I hope I am not too late. Much like seeing a general practitioner when you should see an ophthalmologist. While CPAs often are tax experts their field of study is rather broad and they may not be well suited for individual taxes or truckers per se. You can look in magazines such as National Truckin Magazine and find someone ? (plug plug) or talk to a driver who is satisfied with his/her preparer. I would encourage you to find a competent preparer who is familiar with the trucking industry. If he buys a book or magazine to read on his off time he cannot. For instance, if he buys work boots so that if he drops a binder on his foot he doesn’t break a toe he can deduct those. It comes down to expenses that are ordinary and necessary for his line of work. Next, he will want to take all the business deductions that are appropriate. You can usually substantiate the number of nights away from the tax home from the driving log. He would then be entitled to take the M&IE deduction (see page 6 top of the center column and ). I assume he drags his hotel around with him (sleeper). Next, you should determine the number of nights he spent out of town. If SO, you might still be filing Schedule C. Is your husband an owner operator? If so, has he set up some type of an company entity such as a partnership, LLC, Sub S, etc.? If NOT, you are PROBABLY going to file your return on Schedule C of your individual tax return. There are a few questions you should answer first, though.
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HOW DO I GO BACK AND SAVE MY 2017 TURBO TAX RETURN SOFTWARE
There are plenty of software programs out there to complete your taxes, but you might find it easier and less painful to find a competent preparer (I would put my info here but I am not certain I can :). If your husband is being paid and no taxes taken out he will probably receive a 1099. Please confer with your own licensed tax/accounting professional.
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This article does not give nor is it intended to give specific tax advice.