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children as employees Not really for the current tax year, but for the next. I have a 21 year old daughter that is mildly mentally retarded and is having a very hard time find a job. What I would like to do is be able to hire her as an employee. I kind of figured out that it would have to...

taxes go to become a owner operator local runs 350 what can i take off on taxes like truck payment,tires, fuel,gps need help with this Thanks As An owner/operator you can deduct all expenses except mileage on straignt truck or tractor. since the truck woudl be depreciated Cargo Van...

Re: Business Loan Application V.S. Personal Loan Application for Sprinter Van Purchas Re: Business Loan Application V.S. Personal Loan Application for Sprinter Van Purchas Thank. You all for your replies. Got the LLC done and am working on our business plan and have a Capital Expenditure Loan...

On April 14, President Obama signed legislation repealing the Form 1099 filing requirements that were imposed under the Small Business Jobs Act and the Pension Protection and Affordable Care Act. The rules would have required businesses to report any purchases of goods or services of more than...

OVM; THE MAXIMUN YEARS FOR A CARGO VAN IS 5 YEARS ON THE STANDARD MILEAGE RATE, AFTER THAT YOU MUST USE ACTUAL EXPENSES, BUT NO DEPRECIATION DUE TO USING THE MILEAGE RATE OVER THE LIFE OF THE VEHICLE. PER IRS PUBLICATIONS. AS FAR AS PROVING THE ARTICLE, MOST OF IT IS IN PUBLICATION #946...

Ok Guys and Gals, The standard mileage rate is only good in Cargo Vans, (Class B) and Pick-ups with a box which is a Class C Truck Other wise you must take deprecation and actual expenses But here are some rules on the standard mileage rate: 1. You must be leased on to one carrier with...

If you are a company Driver, you have to fill out form 2106 on line 5 B is states subject to DOT REGS YOU PUT IN THE TOTAL AMOUNT AT THE 59 PER DAY, THEN ON LINE 7 YOU ENTER UNDER REIMBURSEMENTS ON THE MEAL ALLOWANCE LINE, THE AMOUNT YOU GOT PAID FOR THE PER DEIM THAT WILL MAKE THE...

If you took out a loan to pay for your truck, only the interest is deductiable. If you leased your vehicle the lease payment are deductible, and the standard mileage rate would apply to all miles separately, but if you use it for any personal use then between 15% & 20% are not allowed. This...

Sorry, More Van Mileage and Per Diem Questions Cargo Van Mileage Deduct vs Depreciation: As I have read and researched: If one has their own authority and does not lease to a carrier for exclusive use, yet uses many carriers/ brokers, one is considered "For Hire" and standard mileage deduct is...

IR-2010-119: IRS ANNOUNCES 2011 STANDARD MILEAGE RATES The Internal Revenue Service issued the 2011 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2011, the standard...

Hi Denny 2010, I do not know of any specific tax return preparers who actually knows the trucking industry in Michigan Everyone who does taxes say they do just to get your business no matter who you call. There are a number of professionals who specialize in the trucking business but never...

To all. This is what they are trying to do, but it will be up to each compamy to change there contracts between Expediting Company and its Leasee, and the Leasee and there drivers to read properly within the contract. which would mean that you would have to have a lawyer to do all of these...

HI, If your home is based on Michigan, it is your responsibiity toi pay the michigan state tax, includiong city tax for' battle creek, detroit kalamoozoo, lansing, and grand rapids, since I am not at my desk and in the hospital there i cannot give you the exaCT CITIES. if you are not a...

Dave, All days away from home are used a a perdiem day, even if y9u go to a movie while waiting for a load. Frank

daver, The actual expenses pertain to all trucks over 10,000 GVW, No cargo vans, < C units, D units and E units must use Fuel, tools, repairs, insurance tires additiona oil, additives, office supplies, tax and registrationh fees USE ALSO USE THE PER DIEM IN EITHER TRUCK U USE. dAVE...

Per Deim is a reimbursement for food only, it is figured by1/4 days on the day you leave and the day you return home it works this waY you leave at 3 pm on monday, that gives you 1/2 day gone tues, wed, thurs, and friday you arrive home at 9 pm Friday is becomes a full day due to coming...

Hi, I have a Per Diem Mileage Proof Sheet available that must be used with each loan. Starting with the mileage prior to deadhead, to shipper, to receiver, and to the place where your going to rest after the delivery just e-mail me at [email protected] and request one As...

This is the law on the Standard Mileage Rate Effective January 1, 2010 You must prove the standard mileage rate by entering somewhere the starting mileage and ending mileage for every load. deadhead included. to the point of stoping at a truck stop after deliveryadn laying over. One a new...

hI, sCHEDULE C, SHOULLD BE USE FOR ALL SOLE PROPREITORS NO MATTER WHAT KIND OF BUSINESS YOU HAVE, tHE PER DEIM IS $59.00 PER DAY IN THE US FOR 2010 AND $65.00 PER DAY IN CANADA AND IS SUBJECT TO 80% OF THE TOTAL, You cannot take the full amount of the per day total on line 24 B of Schedule C...

THIS RULING DOES NOT PERTAIN TO FED EX CUSTOM CRITICAL YET, BUT IT MIGHT IN THE FUTURE FedEx Drivers In Multidistrict Litigation Largely Held To Be Independent Contractors In re FedEx Ground Package System, Inc., (DC IN 12/13/2010) In a multidistrict litigation (MDL) in which delivery drivers...