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  1. Worn Out Manager

    A few tax questions

    Thanks, just curious, I'm an O/O and I itemize Sent from my XT1710-02 using EO Forums mobile app
  2. Worn Out Manager

    A few tax questions

    If owner keeps only 40% can driver deduct fuel, which would negate owner deductions for mileage?? Sent from my XT1710-02 using EO Forums mobile app
  3. Worn Out Manager

    Husband/wife partnership LLC and Per diem question

    Also, check you state tax rules. When I set up in WV an LLC had an advantage. Moved to NJ and now a disadvantage as NJ has a $400 min Corp tax that I have to pay as LLC. Sent from my XT1710-02 using EO Forums mobile app
  4. Worn Out Manager

    Starting my own fleet.

    Let's just say when someone starts a conversation with "How Much Should I Charge" or "How Much Should I Pay " many of us are skeptical. You wouldn't go to a job interview and start off with "What's The Pay"! If you want advice go to Newbies Paradise thread and read back aways. Then formulate...
  5. Worn Out Manager

    Tax expenses: actual or standard.

    Sure there is, my business losses pass through to my personal return and I get back most of the taxes that my company witholds when they pay us. Sent from my hand-held Etch-A- Sketch
  6. Worn Out Manager

    Tax expenses: actual or standard.

    I found something similar on another site and reviewed it. You are correct, I got 98% of possible deductions already, no sense in nickle and dimeing the IRS. Sent from my hand-held Etch-A- Sketch
  7. Worn Out Manager

    Tax expenses: actual or standard.

    Frank Katz (R.I.P) had a "cheat sheet" that listed all possible deductions. Just reviewing my taxes before finalizing and want to be sure. Does anyone have a copy of it?
  8. Worn Out Manager

    Tax expenses: actual or standard.

    Ditto, just made an Xcel sheet that suits my life and record receipts at least once a week to stay curr Sent from my hand-held Etch-A- Sketch
  9. Worn Out Manager

    Tax expenses: actual or standard.

    Hey, I was talking about the truck body! You're a meanie [emoji16][emoji16][emoji16] Sent from my hand-held Etch-A- Sketch
  10. Worn Out Manager

    Tax expenses: actual or standard.

    I have no confidence that my body will last 5 years, I have not treated it very well over the years. Sent from my hand-held Etch-A- Sketch
  11. Worn Out Manager

    Tax expenses: actual or standard.

    The answer lies in the purchase of a new van and the associated expense of setting it up first year, which leads to the accelerated deprecation model. Sent from my hand-held Etch-A- Sketch
  12. Worn Out Manager

    Tax expenses: actual or standard.

    Same here, but I had a second accountant review and it came out better itemized for tax year 2015. Obviously we will be staying itemized but my maintenance, fuel and other truck costs still come out higher than the mileage allowance. I don't have to worry about income, just keep counting the...
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