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The standard mileage rate for 2010 is $ 50.5 per all business miles, if any change will take place it will not happen until Sept 30,2010 Frank

hI ALL: Fedex sent all the 1099 out on the 31st of January, which really does not give the Owner the time to get the 1099 to you, but He should already know exactally how much to paid you being the contractor. If you do not receive the 1099 from you contractor, he could be not...

Originally the the per diem law state that you would have to stick with it all year, but what you see is the from the OOIDA Website, I couldn' t find anythingon the IRS Web site, why I do not know normally there is on.;ly 1 paragraph in the publication, I went though all of them and did not...

Re: per Diem -------------------------------------------------------------------------------- 80% of $52 for the first 9 months of 2009. 80% of $59 after October 1, 2009. __________________ MOOT. here is the law for per diem for 2009, 2010 and previous years What is the per...

Hi All, If you ask the IRS Directly and really get an answer is "NO" it is not a legal deduction, they consider it entertainment , Here is the list of what legally is not deductible on a truck VCR, DVD, TV, Satellite TV, Lot lizards movies while on the road this is due to it is...

HEY, anyone remember Conway Now, They did the same thing

Here are item that can be deducted for tax year 2009 All of these items are printed in the 2009 Publication 17, Individual Income Taxes which is available online at Publications Online. So if you have any questions that you have asked or want to know about please refer to IRS Publication...

hI ALL, MY WIFE AND I WISH YOU ALL A VERY MERRY CHRISTMAS AND A HAPPY NEW YEAR FROM Franklin Katz, ATP,PA, PB and Mary Ann Katz

QuickBooks Pro 2009 Question -------------------------------------------------------------------------------- My wife and I started a new trucking bussiness several month ago. We are using QuickBooks Pro for our accounting software. How do we enter into quickbooks the following...

In the case of a husband/wife team driving for an owner, would it be better to have the owner make one 1099 to the husband and then have the husband make a 1099 to the wife for a lesser share...I was thinking that this way they would both be eligible for the per diem but maybe would save on...

Dakota, I left off one important item, the deposit that you put down on the truck to lease it is also a deduction, this is done this way it is considered a 179 deduction and fully deducted. lets say truck leased at $1333.33 plus interest per month for 60 months, adn put up $5000.00...

Leasing ?'s -------------------------------------------------------------------------------- Okay, in another thread, I have been told that my lease payment is not tax deductable. I don't know if this is true or not I pay a lease payment and then an .08 cents a mile fee for my...

tHE NEW MILEAGE DEDUCTION HAS JUST BEEN POSTED ON THE MY ASSOCIATIONS WEB BOARD. STANDARD MILEGAGE RATE EFFECTIVE JANUARY 1, 2010 IS $. 50 CENTS PER MILE BUSINESS MILES $ 16.5 CENTS PER MILE MOVING AND MEDICAL $ .14 CENTS PER MILE FOR CHARITY Franklin Katz, ATP ,PA, PB Frank’s...

All the answers are correct, if you stay out for weeks at a time, if you have no one at home use a Mail boxes(UPS Store)that way the USPS will not complain about over filling a PO Box. When a Tax Return is now made out it must have a physical address, in the address line, and all software...

NOW HERE IS THE BIG QUESTION????????????????? What???? is he going to let you take as tax deductions.????? the $1200.00 for WHAT, it seems that you are making his payment for him and he is getting away with everything else. IF is it a new vehicle everything is under warrenty, and he doesn't...

To POORBOY LLC Thursday, November 12, 2009 5:47 PM From: "Franklin Katz" <[email protected]> My recommendation is do not form a partnershio LLC yet until you check out your own state laws in reference to the LLC/ 1. You still need a Federal Tax ID #, Employer...

Hi all, It seems that there is a problem with the approximate 15% personal use of a cargo van if you do not keep accurate records for that personal use, That use is considered for shopping for food stock up, clothes, movies, or any entertainment that you chose to do on the road...

#1 (permalink) Lawrence Administrator Join Date: Nov 1999 Location: Florence, Kentucky, USA Posts: 4,264 Cinderella and the Stroke of Midnight -------------------------------------------------------------------------------- We're all familiar with Cinderella's...

Before signing on -------------------------------------------------------------------------------- Before we (husband & wife) sign on with an owner, what if anything schould be prepared for referance our tax structure etc.? Thanks, Buddy __________________ Hi Buddy, Since the...

From what I have read the Per Diem has once again changed as of October 1st 2009. $59.00 per day in the states $65.00 per day in Canada Hey All, This is definitely the new per diem rates for 2010, but the tax law is quite stanuch on this item. If you are in the transportation...