Expedite Trucking Forums - View Single Post - Diesel price versus cost, or whose $20 is that?

LDB · 09-22-2006, 02:31 AM

You will owe taxes on the money because less expense equals more income. If you are in the 15% bracket you owe $3 out of each $20 you pocket. If you happen to be at a point where an extra $1000 from fuel tax savings pushes you one bracket higher I don't know what the net effect would be. I'd say then it's time to figure out another expense not listed or charitable contribution made or put a little more in an IRA or whatever to drop back the hundred or two that pushed you over. It is definitely more work but worth it in the long run I think.

Leo Bricker, 73's K5LDB, OOIDA 677319
Owner, Panther trucks 5507, 5508, 5509
Highway Watch Participant, Truckerbuddy
EO Forum Moderator
----------
Support the entire Constitution, not just the parts you like.

09-22-2006, 02:31 AM	#31 (permalink)
LDB Moderator Join Date: Sep 2004 Location: Pearland, Texas, U.S.A. Zodiac Sign: Aries Rating: Posts: 6,286	RE: Diesel price versus cost, or whose $20 is that You will owe taxes on the money because less expense equals more income. If you are in the 15% bracket you owe $3 out of each $20 you pocket. If you happen to be at a point where an extra $1000 from fuel tax savings pushes you one bracket higher I don't know what the net effect would be. I'd say then it's time to figure out another expense not listed or charitable contribution made or put a little more in an IRA or whatever to drop back the hundred or two that pushed you over. It is definitely more work but worth it in the long run I think. Leo Bricker, 73's K5LDB, OOIDA 677319 Owner, Panther trucks 5507, 5508, 5509 Highway Watch Participant, Truckerbuddy EO Forum Moderator ---------- Support the entire Constitution, not just the parts you like. __________________ Leo Bricker, 73's K5LDB OOIDA Life Member 677319, JOIN NOW! John O, you were the best. Rest well my friend. Panther & FedEx fleet owner EO Forum Moderator ---------- Support the entire Constitution, not just the parts you like.