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Not trying to scare you or make you feel bad, but you might be surprised what the guy taking the money is willing to turn a blind eye to, and lead the buyer to think it won't matter. Unfortunately the guy taking the money isn't in a position to decide what matters to all of the other entities...

IMHO you have to weigh the whole picture, and not get stuck on one piece of it. I'm not sure how workers' insurance works over there, or if your fleet owner will be paying that on your behalf. Over here, a fleet owner pays WSIB based on gross revenue as opposed to net revenue. Some people call...

Will you be hiring your drivers as employees or contractors?

That just sounds nuts to me. If you're going to pay for accounting services, you might as well pay for someone who knows the business without having to learn it at your expense, or farm parts of it out to other experts who you could have farmed it out to yourself. Perhaps you won't like her...

It's not your problem, other than the fact that if Joelube isn't reporting his business income appropriately, you are in fact helping to fund his share of the burden. So the gumment gets to know exactly what your carrier paid you, or if you had 10 carriers, what those 10 carriers paid you. Now...

Over time here, I am really finding Americans contradictory and perhaps unreasonable. Most seem to want the bad guys caught, and want to pay less taxes, and yet, not. But there ARE lots of vendors cheating on a very large scale, and it is to your benefit that they be made to pay, just like you...

I am just trying to ease your minds because even if there are 5000 vendors in a year, it really isn't going to be that horrible if you get a program and update it daily or weekly. Everything you need to know should be on your receipt. Aside from being able to meet any new obligations easily...

IMHO this is not going to be as onerous as people are thinking right now. You might have to report on a 1099 that you paid Truckrepairplace Inc for a truck repair over $600, but you only issue one 1099 for the entire year to that truck repair company. So you could have 10 repairs done at varying...

That's what I have been wondering for years actually. 'They' are really pushing it, and trying to make it seem like it's all for 'you'.. but as with everything else, they only have their own financial interests at heart. Either way you do it.. it can also be done both ways.. get it in the mail...

When you 'go paperless', it only means they don't send you paper in the mail (saves them money via paper, envelope, wages, postage). They send via email attachment usually in pdf format, which you can then save in a folder on your hard drive, and you can also print out to save as a paper copy if...

Love Quickbooks :)

I'm in Canada, so things are undoubtedly different, but then again, maybe not so much. Look on your tax form to see if there is a place hubby can authorize to have his previous refund pay for the current joint payable. If the ex has filed a garnishment order for arrears of child support, any...

The latest version is 2010, but you certainly don't need to have the latest version. You also don't need the 'Pro' version, 'Basic' would be likely be fine. Check it out online what the differences are between the versions to figure out which one meets your needs (unless of course you find a...

First figure out which method you're using.. the miles x $x method (applicable to cv's only), or the revenue and expenses method. If the first method, you don't claim your fuel costs. If the second method, you don't claim your miles, but you use actual expenses. Both methods allow for the...

What does that mean?

Where does it say DH miles cannot be used in whichever method you're using? Here is a link to another EO conversation, altho it's rather confusing (at least to me). http://www.expeditersonline.com/forum/newbies-paradise-forum/37263-dead-head-miles-deduction.html

Do you think the net income might be better than in expediting? :D

I love QB! You can enter it in different ways, and get into however much detail you want. Don't go too hog wild tho, becuz it can become a monster. You want to keep it simple, while being able to easily obtain whatever information you're going to want to look at often. One way you can do it is...

Is the vehicle paid for? The vehicle would have to be in the corporation's name. The corporation would have to claim the lease payments as income. Would the corporation have many expenses to offset the income?

If the driver takes the mileage deduction, what does the owner of the vehicle get to claim as his expenses in providing the vehicle? Doesn't the standard mileage deduction take into account more than just the fuel, which is all the driver is paying for? Sorry, this driver has not even stated...