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Thread: Re:Tolls

  1. #1
    18K Member OntarioVanMan's Avatar
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    Re:Tolls

    Frank..Re: tolls........My carrier Load 1 reimburses 100% of any tolls....

    Is that taxable money? Is it income that is included on a 1099?

    When at Express 1 they give say $65.00 for east coast tolls...and that on my statement showed as income
    Drive less...Make more...$$$...

    It's not how much you run,
    It's how much you run for... $$$

    I never considered a difference of opinion in politics, in religion, in philosophy, as cause for withdrawing from a friend.
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  4. #2
    18K Member greg334's Avatar
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    Do you keep the toll receipts?

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  6. #3
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    Re: Tolls

    Yes, I'm confused about tolls as well. Can I claim all toll expenses on my taxes, even if Panther reimburses them? When Panther reimburses them to my Owner, who then reimburses me, does that show as income on my 1099? Are tolls the same as FSC, where I claim all expenses, show all reimbursements as income, and the difference is a deduction?
    Thanks,
    Justin

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  8. #4
    18K Member OntarioVanMan's Avatar
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    Re: Tolls

    Quote Originally Posted by greg334 View Post
    Do you keep the toll receipts?
    Yes...I print off the monthly EZ pass statement....
    Drive less...Make more...$$$...

    It's not how much you run,
    It's how much you run for... $$$

    I never considered a difference of opinion in politics, in religion, in philosophy, as cause for withdrawing from a friend.
    Thomas Jefferson


  9. 4,518919,52674,15
  10. #5
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    Re: Tolls

    Hi All in regard to tolls,

    If you are reimbursed at any time for tolls and you turn them in then they are not deductilbe,
    You only can take the tolls if you have the actual copies of the reciepts, but since there might be many you can copy them as many that can fit on 1 standard letter paper, Why should your owners or Company get the deduction, keep them and you use them as a complete deduction on your Sch C. Part V, where you list other expenses. showers, laundry, (dot physicals only, Drug screens) Bank Charges (ComData, ATM, TCH, and your busness bank charges per your business statements) Reefer Fuel, Deisel fuel, ETC

    Tolls are not supposed to be included in income, check with your owners, and the company your with. If they are not giving you the reimbursement then you must have the reciepts for yourself.

    you can Print off the E-Pass, but you cannot print off the reciepts you don't have

    Frank’s Tax and Business Service
    120 York Rd
    Kings Mountain, NC 28086-3151
    (704) 739-4039 Fax: (704) 739-3934
    e-mail: frankstaxservice@bellsouth.net
    Web Site: File Your Return Online
    Franklin Katz, ATP, PA, PB,

    Providing Professional Accounting, Bookkeeping, Payroll and Income Tax Preparation Services

    Circular 230 Disclaimer – Any tax advice in this communication (including any attachments) is not intended or written to be used, and cannot be used, by any taxpayer for the purpose of avoiding related

    penalties under the Internal Revenue Code or (2) promoting, marketing or recommending to another party any transaction or tax
    related matters addressed herein.

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  12. #6
    18K Member OntarioVanMan's Avatar
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    Re: Tolls

    Frank...so one can not take the reimbursement and then use the same receipts and take them as a tax deduction as well?
    Drive less...Make more...$$$...

    It's not how much you run,
    It's how much you run for... $$$

    I never considered a difference of opinion in politics, in religion, in philosophy, as cause for withdrawing from a friend.
    Thomas Jefferson


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  14. #7
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    Re: Tolls

    ^Correct, one or the other but not both.

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  16. #8
    Senior Member BobWolf's Avatar
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    Re: Tolls

    Broken down in laymans terms No Reciept No Deduction.

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  18. #9
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    Re: Tolls

    Quote Originally Posted by jmlaber View Post
    Yes, I'm confused about tolls as well. Can I claim all toll expenses on my taxes, even if Panther reimburses them? When Panther reimburses them to my Owner, who then reimburses me, does that show as income on my 1099? Are tolls the same as FSC, where I claim all expenses, show all reimbursements as income, and the difference is a deduction?
    Thanks,
    Justin
    if your paying, then you can claim.

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  20. #10
    Senior Member BigCat's Avatar
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    Quote Originally Posted by rotcaal View Post
    if your paying, then you can claim.
    Not if they are being reimbursed.


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  22. #11
    Senior Member zorry's Avatar
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    Be careful. If the money reimbursed shows as income on your 1099, you will pay tax on that money as income.
    OOIDA # 463 ( Yeah, an old fart ). Expediting....It beats working for a living

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  24. #12
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    Re: Tolls

    Quote Originally Posted by zorry View Post
    Be careful. If the money reimbursed shows as income on your 1099, you will pay tax on that money as income.

    If the carrier is giving you money for tolls, it IS income. If you take the tolled road, and incur the toll charge, that is an expense. If the carrier gives you $97.50 for tolls, and you pay $97.50 to drive on that tolled road, then there is no tax consequence. Last I checked, the income tax on $0.00 is still $0.00.

    The only issue is whether or not the driver accepted the toll money, and then chose to drive on an unrolled road. THEN, the money paid by the carrier is just additional business income.
    AJ & Myrian Johnson

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  26. #13
    Senior Member zorry's Avatar
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    What I was saying was a driver spends $42.00 in tolls. He turns in the tickets. He made $40,000 payroll but his 1099 says he was paid $$40,042.00 . At this point,even though he turned in the tickets,shouldn't he write them off also?
    O/O example:
    In usakk9's example,if the carrier paid him $90.00 but showed that $90.00 as income the o/o would still write them off,in my opinion.
    The key here is to know what all is included in your 1099 figure.
    OOIDA # 463 ( Yeah, an old fart ). Expediting....It beats working for a living

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  28. #14
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    Re: Tolls

    Quote Originally Posted by OntarioVanMan View Post
    Frank..Re: tolls........My carrier Load 1 reimburses 100% of any tolls....

    Is that taxable money? Is it income that is included on a 1099?

    When at Express 1 they give say $65.00 for east coast tolls...and that on my statement showed as income
    hi all,

    The best thing to do is not to rutn them in and keep them for yourself, it then becomes a full deduction on your SCH> C.

    Each Company is different, they definity can include it in your 1099 income, even though they are reimbursing you. My suggestion is keep them for yourself.

    If hyou are coming through wilmington, OH tomorrow, at have atable set up at Booth 128 at the Roberts Center, I 71, Exit 50

    Franklin Katz
    Franks; tax & business service

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  30. #15
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    Re: Tolls

    That is correct, you cannot claim them as a deduction

  31. 15,553216,52674,15
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