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Hi All, I received notification about the new Per Diem and Standard Mileage rates so far will REMAIN THE SAME AS 2007 Per Diem: $52.00 per day U.S. $58.00 per day International, (Canada-Mexico) and except that the limitation has finally reached to where it was back in 1998. That...

Forum name: Tax Topics For Expediters. Subject: RE%3A DEADHEAD MILES Posted by: Thornapple Message : >Under 10,000 lbs may use either the standard mileage rate or >Actual Expense method of EXPENSING, this is only for Cars, >Pick-up trucks, Cargo Vans, and panel trucks. or trucks with...

[b]The Law states that if you are on the road, and If you have written proof ( like copies of Bill of lading, that you picked up and delivered to where you are suppose to. and the fuel receipts to prove the standard mileage rate. and that you were on the road, I used a Steno Book, listing the...

Hi all, There is 1 thing that you all must know and that is this, If you plan on giving gifts and you use it as a deduction on your taxes as a business expense you are limited to the Maximun of $25.00 per gift. So don't plan on getting someone a Camera for $300 and expect to deduct it all...

HELLO FRANK,WE HAVE A D UNIT STRAIGHT TRUCK AND USE OUR FUEL AS A TAX DEDUCTION.CAN WE GET ANY TAX WRITE OFF'S FOR ALL THOSE MANY DH MILES WE DO FOR THE WEAR AND TARE OF OUR TRUCK.I HAVE BEEN TOLD SOME USE THIS AS A WRITE OFF.JUST WOULD LIKE YOUR OPIONION ON THIS.THANKS FOR ALL YOUR HELP...

[B]Ross, Read below as to if you are required or not in publication 1635 that you can view on the IRS web site at www.irs.gov In some situations a name change may require a new Employer Identification Number (EIN) or a final return. See Publication 1635, Understanding Your EIN, to make this...

RE: American Truck Business Services for tax purpo Frank, I am fairly new to the forum and haven't asked too many questions. However, I just started reviewing some tax questions/answers between you and others and wondered why I haven't seen any suggestions to use ATBS (American Truck Business...

On the quarterly payment issue ... Is it correct you do not have to file quarterly if you had no tax liability the previous year ? For example , someone was employed one year and received a tax refund or was self employed and showed a loss . Would this exempt them from quarterly payments the...

. "RE: per diem per person" Aug-07-07, 08:50 PM (EDT) In response to message #1 But can you take $52.00 for both husband and wife? 52.00 x 2 people= 104.00 per day? arrbsthw Morning arrbsthw [b]Sorry it does not work that way, you cannot combine the per diem on one Sch C. or on one...

Hi, Can you tell me if husband and wife can each claim the $52.00 per diem? We both drive and own the truck. I understand at filing time it's really only 75% of the total. Also is there different amounts for different parts of the US? I had someone tell me there was?? Thanks Sheila Sparks...

Reposition milage" Jul-22-07, 10:16 PM (EDT) I live in a remote spot in Michigan where not much freight is shipped from. So on Sunday or Monday I sometimes (make that usually) I reposition myself to one of the bigger citys that are about 100 to 150 miles away from my home. My quesiton is: are...

O/O sells his cargo van in 2006. [b]When van was sold, did he sell it outright, or traded in on a new vehicle. if he sold it he was suppose to claim it as a Captial Gain, if he use the mileage rate for the deduction and recapture the mileage depreciation that was taken, which would mean he...

In response to message #1 I have a friend who is a cargo van driver and he only settles one time per year. He has never sent an "estimated tax payment". That leads me to believe that the estimated payment is optional. Yes? No? David Hall David, The answer to this is either, you do not...

JUNE 2007 [B]TIP #1 THE TAX CONSEQUENCES OF LOANING MONEY TO YOUR BUSINESS (Don't forget the interest) Often buiness owners infuse there business with additional cash. How you structure this capital investment has a direct effect on the tax consequences. In addition, the type of entity...

[b]HI ALL, We have Posted "Tax Tips for small businesses" on our tax forum. I hope to have them posted for your on a monthly basis. If there are any questions please do not hesitate to ask, I will also have copies for you at the Expo for you to pick up. They are copywrited with permission...

hello frank,hope your doing great.i've got a question,does a tax person or who ever is doing our taxes,have to send any paperwork in quarterly for us to the irs?like we have to send in our estimated taxes owed each quarter.thanks Hi Truckwife, You are the only one that is responsible to...

For 600 a week, there is no way that you will be able to make a living, lets say you do 4 runs a week, his straight truck will probably get only 8-10 miles per gallon, at an average price of 260 per gallon, and your truck will take approx 100-150 depending on the fuel tanks, so figure 2 75...

Starting a New Business? Here are the Accounting Decisions You Need to Make Starting a new business is exciting, but in that excitement are a lot of decisions to be made. Out of all them all, the financial backbone of your business needs to be seriously taken into consideration. A large part of...

you maybe next!" Apr-10-07, 09:42 AM (EDT) Canadian Van owners will not get the per diem/meal allowance anymore..The sentence in bold tells it all. This is one reason why I don't waste my money on lobby groups like the CTA or OOIDA becuase they only cater to the big trucks. OTTAWA...

Aquawarrior, Thats true, due to the lower wage, So it what you decide to do Stacy, Frank