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Travel Per Diem Rates for 2015 Hi all, IRS refuses to raise the Per Diem rates for the transportation industry, they are exactly the same as the last 3 years since 2010 Notice 2014-57 announces the 2014-2015 per diem rates for substantiating employees' business expenses for lodging...

Its not totally true, but if you use the Standard mileage deduction it is definitely not deductible as an expense, you cannot use both, Remember if you use mileage you cannot deduct any of the following: Depreciation of vehicle Fuel Repairs Maintenance Liability/ collision/ bobtail insurance...

Good Morning All, For toughs of you who filed for extension, time is getting short, the due date by now as your all know is October 15, 2014 Which is Wednesday this year. the exact amount of time that your have is exactly 35 days from today. So contact your Accountant/tax preparer to set...

To Highlander and others that think fuel is deductible. Fuel is only deductible if you use the actual expenses, which includes Liability/Collision/Bobtail Insurance, Repairs, Maintenance, Parts, & Tires, If you do your own Labor for repairs is not Deductible no matter what it is. If you use...

I know that logbooks are not the only item to prove your per diem, I was referring to a D, and E Unit, Straight trucks and Tractors/trailers. which is the best way of proving your per diem deduction, As far as cargo van driver, Since the DOT does not require Logbook, I used the Bill of...

Afternoon Robert, Even though you drive for someone else there are deductions that allowable to you. not only your cell phone here are the other items, 1. If you purchased any items for the truck Office supplies: computer, printer, ink cartridges, paper, pens, postage, faxes, trip-pak, etc...

Hi All, Normally, any person first starting out for the first year, would pay no taxes at all, it basically mainly depends on his net income before being taxed. If he figures his net taxable income property(profit), and would have to pay estimated taxes, then he can download form 1040-ES...

Evening Robert, You have to figure the net income taxable at either 10% if your net income is under$8,925.00 if your net income is over $8925.00 and Under would 15% tax to $36,250,000 and Over $36,250.00, to $ 87,850.00 the tax rate is 25%. Most fall into the 15% bracket If you make a profit...

True if you do not own the truck then the Occupational/Workers Comp. you may deduct from your profit. Frank

Hi, all. First of all, it would depend upon what type of vehicle that you own 1. Ford, Chevy, Sprinter Cargo Van- "B" unit 2. 22-24 Ft Straight Truck "D" Unit 3. Tractor "E" Unit/With Trailer "B' Units- Cargo vans- Can take the Standard Mileage Deduction, but cannot take the following...

Hi All, There is no discount on reefer fuel, On TT's there is a separate fuel tank that hold about 30 gallons, not sure exact amt. but you fill each separately, Main tanks first then reefer tank, and make sure you specify, that you are filling the reefer so you do not pay fuel tax on it...

You are now self employed basically as a Consignment Shop, better check out if your state requires your to charge Sales tax. Basically every state has sales tax, including Texas, Ten, Fl.so better check I out. frank

Hi All, Dave, your actually right, her lawyer is just trying to build up the income for more support/alimony Get your own lawyer, it works out better for you The IRS ruling on the mileage deduction Is this: 1. Your Vehicle can not be over 9,998 lbs. GVW 2. You must keep accurate records ...

Hi All, Here's a little information on if you owe taxes. For taxpayers who owe taxes with theirtax returns, the IRShas provided ten tips about how to pay: 1. Taxpayers should never sendcash. 2. If taxpayers e-file, they canfile and pay in a single step with an electronic funds withdrawal...

Zorry, If you paid the $1200.00 with the extension and after you finish filling out the tax forms and do not owe any more taxes then thee Is no additional penalty and interest. But if you do there is definitely penalty and interest added. Frank

Zorry, You do not have to send any money to file an extension but the extension only saves you the late filing fee of between 22 and 25%. As far as any taxes that are owed, Penalty and interest will apply for all balances due payable starting April 16th. You do not save these fees by...

Hi All, Your Tax Return must be filed and postmarked by Midnight tonight April 15, 2014, If there was no way that you will be able to complete your tax returns ask your CPA, EA, or Tax Preparer for him/her to file an Extension, this extension is Free, it should be completed by your preparer...

Hi All, I hate to say it but you only have 12 days from today April 3, 2014 to file your 2013 Income tax returns, IF you use a tax professional, please contact him/her in order to file for an Extension. An Extension will only Save you the late filing fee, this fee would range between...

Zorry, That was my experience years ago with finance companies. if I was late on a payment it doubled, at that time, But things change, SC is the only state that offers Payday loans, that I know of, and I have had some of my clients tell me about them, that is all I can tell you. I...

Hi, its me again, I know all of you know about the regular income tax filing season deadline, and the extension that is available for you if you feel that you will not...