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Hi All, If you in Lorado, ever think of looking at the load board for something that might take you out of there, But you have to find out from Panther if you could use there insurance and DOT Numbers, If they allow it it can get you to the Freight lanes, If they allow it they will...

Hi All, This is very true, but The IRS has lost a case with all of Fed EX, that there contractors are independent of them and do not have to take all loads, but the problem with this is that if you do not you go to the bottom of the list and maybe you will sit for a couple of days even...

Morning Underdog, I have read your message and let me ask you a few questions. All income must be reported W-2's and 1099's but each would be considered as separate income, you 1099s are for you being an independent Contractor, and have to file a Sch C, Profit or loss from...

To all Any business no matter what it is can form a corporation in any of the Non-taxable states. The following states have NO Personal Income Tax Delware, Florida, Tennessee, New Hamphire, Texas, Nevada As Far As Corporate Taxes are concerned the following have them. they are...

Hi All, Thanksgiving is just around the corner and it really is time to start getting you paperwork in order so that you can file your 2011 tax returns on time and not ask for an extension. Remember if you file for an extension and file after April 15th. and you owe tax you only save the...

For owners who are looking for drivers and you want information about them you can contact the following: [email protected] or call 1-800-331-9175 This is actually there DAC REPORT OR you can report any derogatory infromation to them about a driver you had or have ...

that is a large question, to Incorporate or Not If you are trying to avoid the tax liability it would be necessary, but corporate income is taxed separately, and then you would recieve a Corp K-1 for for the profit in the corp. If you incorporate you would have to do the following Forming a...

Poondog, Since you are considered a local driver the PER DIEM does not apply and is not deductible, but the mileage rate is. Frank

We appreciate all the questions that you have sent us since we have been monitoring this forum. This year we wish you all a VERY HAPPY THANKSGIVING :o;):) PLEASE DO NOT STOP ASKING QUESTIONS ON THIS SITE, i WILL ANSWER ALL. If I cannot answer a question truthfully I will definitely...

Afternoon All. This month, buy Novermber30, 2011, you must complete IRS Tax Form 2290 Highway Use Tax, This is for trucks with a GVW of 55,000 plus lbs. This includes your trailers, which the GVW is 80,000 lbs and the cost is $550.00 We can fill them and and e-file them for you, or you can...

Hi, Ontario Van Man, thanks for asking that question, TO WESTMICHER If you used the standard mileage rate only in any of the last 5 years you can still use it. IF YOU USED ACTUAL EXPENSES YOU HAVE TO FINISH OUT WITH THEM UNTIL YOU PURCHASE A NEW VAN Frank’s Tax and Business Service...

Unmarried Couples and Home Mortgage Interest It is becoming increasingly common for couples to live together and remain unmarried, which can lead to potential tax problems when they share the expenses of a home but only one of the couple is liable for the debt on that home. Home mortgage...

It’s Time for Year-End Tax Planning We have compiled a checklist of actions based on current tax rules that may help you save tax dollars if you act before year-end. Regardless of what Congress does late this year or early next, solid tax savings can be realized by taking advantage of tax...

(QUOTE) Frank....Thanks for digging in and checking it out...:D aren't you glad I was such a nag about it?....LOL i had an audit done on one of my cleints, and they were picking up and delivering Tractors, RV's, and other freight, but use there own vehicle with towbars. and the IRS has...

Hi All, I admit that I have made a large mistake on this subject, I spoke to the Small Business Division of the IRS ,Today 10-24-2011 with Mr. Michael Woods in Columbia, SC. I had asked him to interept the length of time that this deduction can be used. His answer is based on the IRS Code...

Hi Bob, On that Ontario Man is correct, and you owe him a cup of coffee Since you are just starting out, the mileage rate will apply Frank

buckwheat, I posted the per diem prior to Oct 15th on the forum, did you not see it. Frank

Ontario Man, Even though you spoke with this Mr. Harvey, the rule of thumb is as follows. if you Drive a Tractor, or straight truck over 26,000 lbs GVW you must use the depreciation method. and that is 3 years with a life of 4 depending on when it is put into service. If you drive a...

As of Oct 1, 2011 through September 30, 2012 the per diem rates are as follows: $59.00 per Day in the US $65.00 per day Canada There are rules that you must follow for days that you leave your main home and the day you return off the road. The rule of thumb is: you must use !/4 parts of...

I have mentioned this quite a number of time, Buckwheat in prior replys, I have a form that has to be filled out on a daily basis in order to prove both the mileage and the per diem. Just e-mail me at the address below directly and I will be glad to send you a copy Franklin Katz, ATP, PA...