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hI ALL, i have posted this a couple of years ago, of how long you should keep your financial record. Most of you thought that 3 years is what the statute of Limitations says. but that is not true when it pertains to important papers.But that is not true, especially if you won a business...

Its time for your annual Check-up Now is an ideal time to review your financial plan for 2010. You should now have a past year history, or an idea of where your money is going, how your investments are performing, and what your savings are earning. By taking a look at where you stand now, you...

Hi All, Well its that time of year, for all of you procrastinators who deceided to put off the inevitable of having your 2009 tax returns to be filed either this or next week. The final electronical e-filing of your return is next friday October 15, 2010 which must be postmarked by...

THE current per diem rate of $59.00 per day will not change effective today Oct 1, 2010/. It is $59.00 US and $65.00 Mexico or Canada. the current wording is directly from the IRS web site Transportation industry per diem. Effective Oct. 1, 2010, taxpayers in the transportation industry...

The PER DIEM RATE UNTIL September 30, 2010 IS $59.00 PER DAY IN THE US, $63 in Canada If the rate is going to change it will be effective Oct 1, 2010 for then through Sept 30, 2011 No word on the increase in Per Diem rates has been approved as yet. Please check out after Oct 1, for...

Hi, Just returned your e-mail to me directly You do not need a CPA, to do your taxes, just someone who is experience with the trucking induustry Franklin Katz, ATP ,PA, PB Frank’s Tax and Business Service 120 York Rd Kings Mountain, NC 28086-3151 (704) 739-4039 Fax: (704) 739-3934...

Re: 60 / 40 or 40 / 60 ?? -------------------------------------------------------------------------------- My existing accountant was fine when I was in the Landscape field but now I am in the process of finding an accountant that specializes in the trucking industry . A zillion things are...

ConfusedMuse Senior Member WCC rate for 2008 -------------------------------------------------------------------------------- Hey looked high and low in all our past statements. Nowhere can I find what we paid for workmans comp in the tax year of 2008. It should be on our statements...

How much for taxes for one year one truck/ teams -------------------------------------------------------------------------------- How much would be a fair amount to expect to put away for taxes for a truck driving teams? It would depend on your gross, versus Expense and your other...

hI ALL, The actual Per deim rate for 2010 is the same as it was in 2009, $52.00 per day US, ad $59.00 per day in Canada, the rate that was quoted in March 2010 was the Canadian rate at the time which also has not changed. In order to take the Per Diem you must be out on the road for a...

Does this apply to all drivers, or just those who are not required to keep a log under FMCSA? __________________ No, it is not necessary for Tractor Trailer, and straight Trucks to use the form., it only applies to Cargo Van Drivers, If others would like, I am not stopping them from...

The Standard Mileage Rate Deduction has now become a "RED FLAG" if you do not have proof of you mileage on a daily basis. I have designed a printed sheet showing the Shipper/Receiver- Pick up date/Delivery Date which proves yor PER DEIM, and a Mileage log log for each day. This is...

This is a message to all OWNERS AND FLEET OWNERS WITH 1 OR MORE TRUCKS, you are not going to enjoy what the IRS is planning on doing with your Contractors. READ ON THE MISSCLASSIFICATION OF EMPLOYEES AS INDEPENDENT CONTRACTORS A Congressional research report titled “Tax Gap...

Hi All. What is happening is they are really forcing the paperless , and electronic issue. it saves them and you in the long run $$$$$$$$$. The true only way of being able to deep up with is to have someone due your bookkeeping with an Electronic Document Manager. 1. you accumulate all...

[B] I DO NOT UNDERSTAND WHY THERE IS SO MUCH DISCUSSION ON LAUNDRY AND SHOWERS. IT IS A TOTALLY LEGAL SEPARATE DEDUCTION WITHOUT ANY QUESTION AS LONG AS YOU FOLLOW GUIDELINES IT HAS NOTHING TO DO WITH THE PER DIEM PERIOD. REMEMBER THE SHOWERS THAT YOU PAID FOR CASH ARE THE ONLY ONES...

Deisel Boss software does not give you everything that you need, it only tracks the expenses, no assets, depreciation or any other type of expense. Your best bet for Accounting software is Quickbooks Pro, it has a separate industry related built in under transporation when you first set...

As long as it has any logo on it, its deductible frank

Linda, Yes if they are uniforms, but only the shirt, jacket and hats are deductible, you ordered them from FED EX, but the pants or sneakers, or non steel toed boots are not you cannot gto to wal mart and purchase a pair of Dickies {Pant and exspect to deduct it. the irs will not...

I am posting these 2 questions to get an overall picture of what the IRS has been doing to us as independent contractors, I am trying to get the Taxpayer Advocate Service to honor and correct the letters for disallowance of the following. Please, just give me a "YES OR NO, I Do not need...

Hi all, Your Federal Highway Use Tax Form 2290 is due into the IRS by August 31, We an electronically file that for you and you dfo not have to doing anything else, and considered it filed, but it is your responsibility to pay the $550.00 tax on it. that payment can be made...