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

SHARP327 · 03-17-2008, 11:42 AM

Thanks Leo!

You've done a real good job explaining how the fuel taxes work...But...I have a problem in worring about who does what and why.

My reasoning is this...my thought is fuel and fuel taxes are a cost of doing business which I think are a 100% write off when doing my income taxes and if I receive a credit on my settlement it shows up in the income column which I'll end up paying taxes on again, even when I receive my rebate from Pilot it shows up as income as well and that's why I avoid using Pilot.

I'm not saying that you're wrong...I'm just saying that I've got alot of other issues to worry about and come the end of the year if I haven't used the money in fuel, taxes, maint and repairs and what ever else comes along then I'll have to give it to Uncle Sam.

Having said this I'd also like to say that if I'm wrong about the taxes being a complete write off then I stand corrected and I'll consider worring about how to calculate the fuel tax thing.

Thanks Leo!

03-17-2008, 11:42 AM	#38 (permalink)
SHARP327 Senior Member Join Date: Sep 2002 Location: GRAND RIVERS, KENTUCKY, USA. Rating: Posts: 196	Re: Diesel price versus cost, or whose $20 is that? Thanks Leo! You've done a real good job explaining how the fuel taxes work...But...I have a problem in worring about who does what and why. My reasoning is this...my thought is fuel and fuel taxes are a cost of doing business which I think are a 100% write off when doing my income taxes and if I receive a credit on my settlement it shows up in the income column which I'll end up paying taxes on again, even when I receive my rebate from Pilot it shows up as income as well and that's why I avoid using Pilot. I'm not saying that you're wrong...I'm just saying that I've got alot of other issues to worry about and come the end of the year if I haven't used the money in fuel, taxes, maint and repairs and what ever else comes along then I'll have to give it to Uncle Sam. Having said this I'd also like to say that if I'm wrong about the taxes being a complete write off then I stand corrected and I'll consider worring about how to calculate the fuel tax thing. Thanks Leo!