[Fkatz]

Hi A team
#1 WHAT TYPE OF UNIT ARE YOU RUNNING. ("B, C, D, E")
#2 ARE YOU A SOLE PROPREITOR,PARTNERSHIP, OR CORPORATION
#3 DO YOU KNOW EXACTLY WHERE TO LIST ALL ITEMS THAT ARE DEDUCTIABLE TO YOU IN THE TRANSPORTATION INDUSTRY, OR WOULD YOU BE GUESSING. SINCE YOU WANTED TO KNOW WHAT FORMS YOU NEEDED
#4 AND FINALLY WHAT TAX SOFTWARE ARE YOU USING. IF IT IS INTUIT TURBO TAX, KIPLINGERS TAX CUT, OR TAX ACT THEY ALL HAVE TO BE UPGRADED REMEMBER YOU MUST GO TO THERE WEB SITE AND DO AN UPGRADE PRIOR TO DOING YOUR RETURN. THE SOFTWARE WAS MADE BEFORE 12/1/2001 AND DOES NOT REFLECT ANY TAX CHANGES, I HAVE HAD 4 UPGRADES SINCE JAN 20, 2003, STATES ARE UPGRADE QUITE A NUMBER OF TIMES, THE LATEST IS MARCH 25, 2003 FOR ALL THE STATES. THAT IS MY SOFTWARE WHICH IS MADE FOR TAX PROFESSIONALS ONLY.

the forms you would need would be the regular 1040,sSCH "A" FOR ITEMIZED Sch "C" for business if you are a sole propreitor only, Sch "SE" if you make a profit, 4562 depreciation form, 8829 if you have a home office(bUT IT cannot be a table, or desk in a room that is useD for other purposes for instance, a desk in a bedroom, IT MUST BE A SEPARATE ROOM PERIOD.

IF YOU ARE A INCORPORATED, WEATHER A "S" CORP, LLC, OR PARTNERSHIP THEN A DIFFERENT TAX FORM MUST BE FILLED OUT ALTOGETHER, 1120 CORP, AND 1065 PARTNERSHIPS. PLUS YOUR REGULAR 1040 YOU COULD BE DOUBLE TAXED THIS WAY. PAYING CORPORATE TAXES AND PERSONAL TAXES.

IF THIS IS YOUR FIRST YEAR IN BUSINESS, IF DONE RIGHT, YOU SHOULD HAVE NO REGULAR INCOME TAX TO PAY, AND SHOW A LOSS, BUT, THERE IS THE POSSIBILITY THAT IF YOU MAKE A PROFIT, YOU WOULD HAVE TO PAY SOCIAL SECURITY TAX.

IF YOU USE THE HOME OFFICE YOU MUST ENTER THE HOME ITEMS ON THAT
MORTGAGE INTEREST, UTILITIES, HOMEOWNERS INSURANCE, AND ETC, INSTEAD OF THE SCH A, ITEMIZED DEDUCTIONS, PLUS DEPRECIATION(FORM 4562) OF YOUR HOME. WHICH HAS TO BE RECAPTURED WHEN IT IS SOLD. AS THE SAME WITH YOUR TRUCK, REMEMBER YOUR TRUCK, HOUSE, MAJOR PURCHASES, TV,VCR, CB, REFRIG, MATTRESSES IF NOT INCLUDED WHEN PURCHASED.

IF YOU FEEL THAT IT IS MUCH TO MUCH FOR YOU TO UNDERSTAND AND WHAT TO PUT WHERE, I WILL DO THEM FOR YOU, IT WOULD AVERAGE BETWEEN $175 TO $300 DEPENDING ON THE FORMS AND INFORMATION THAT YOU SUPPLY.
PLUS IF YOU DO NOT HAVE THE TIME TO COMPLETE THE RETURN PRIOR TO 4/15 YOU MAY ASK FOR AN EXTENSION ON FORM 4868. IF YOU THINK YOU WOULD OWE TAX AN AMOUNT MUST BE SENT WITH IT. $500, $1000. JUST DEPENDS WHAT YOU FEEL IT WOULD BE.

REMEMBER IF YOU TAKE THE STANDARD MILEAGE DEDUCTION FOR A B, OR C UNIT YOU CANNOT TAKE ACTUAL EXPENSES WHICH WOULD BE FUEL, OIL, REPAIRS, MAINTAINCE, TIRES, INSURANCE,ETC

BUT YOU CAN TAKE THE PERMITS, PLATES, DOT PHYSICAL, CDL LICENSE FEES, TOLLS, THE OCCUPATIONAL INSURANCE, ADVANCE FEES ONLY, COMCHECK FEES, YOUR BANK FEES, PLUS MANY MORE.

FRANK
FRANKS TAX AND BUSINESS SERVICE
308 E KING ST
KINGS MOUNTAIN, NC 28086
704-739-4039
FAX: 704-739-3934