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Tax Topics For Expediters Got a Tax question? Need help with a bookkeeping problem? Frank Katz can help you! A tax preparation expert with many years experience plus an in-depth knowledge of the trucking industry, Frank will respond to your questions on this forum.

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Old 01-07-2008, 12:59 PM   1 links from elsewhere to this Post. Click to view. #1 (permalink)
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SubContractor Tax Questions

I do not own my own truck, I work for an IC that splits the amount that is paid for the load with me. I pay my own insurance, a portion of fuel and repairs.

In addition, I would like to write off cell phone usage, office space at home, and internet access.

I used to be in sales and would fill out a form for nonreimbursed expenses. Is that the same form I would use for the expeneses mentioned above? If not, can you please let me know which forms, and if possible, the lines where the deductions would be placed.

Thanks for your assistance,

Louis
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Old 01-07-2008, 01:05 PM   #2 (permalink)
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Unemployment, Medicare taxes?

There are no withholdings on my checks. Am I also responsible for paying any other type of tax, such as for unemployment or medicare, in addition to what I owe for federal income tax?

I live in TX so there is no state income tax.

Thanks,
Louis
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Old 01-07-2008, 02:55 PM   #3 (permalink)
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Simply yes. Your responsiblity is to pay all the federal taxes and then pay the additional SS tax that the employer would normally pay.
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Old 01-07-2008, 04:43 PM   #4 (permalink)
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I know how to file my tax return, but how do I figure my social security tax and where and how do I pay it?
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Old 01-07-2008, 04:57 PM   #5 (permalink)
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My advise to you would be have a accountant do your taxes this year and see what all he files and then wing it with turbo tax next time. Its not to paimful
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Old 02-08-2008, 02:37 PM   #6 (permalink)
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Re: SubContractor Tax Questions

You donot have to have an accountant (CPA) (EA), You can have anyone prepare your taxes professionally, but make sure the really know the Trucking Industry, You cannot use the average tax preparer do you your specialized industry.

Frank

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 (1) avoiding tax 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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