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RE: To: Streakn1 #2 It seems that your messages are not going into queue at all, Why I do not know, but if you answers this past e-mail again it did not go though No I do not mind that you answer questions for me if I happen to be too buzy to go on this web site, I cannot monitor everyday...

A new message has been placed in queue. ------------------------------------------------------------------ Forum name: Tax Topics For Expediters. Subject: Correct me if I%27m wrong Posted by: Streakn1 Message : On 1/20/07 a member posted a question in this forum. Being a regular visitor to...

[b]Help is here, if you want it. Income Tax is a requirement and there is no way of getting around it. DO not listen to anyone who says that you do not have to file a tax return, this is false information, it is federal law that everyone must file. Try and get all of your receipts, and...

"Occupational Insurance" Jan-20-07, 05:18 PM (EST) We drive for an owner and will be paid on a 1099. We have occupational accident coverage deducted from our weekly settlement. Is this deductible on our taxes at the end of the year? Thanks Steve and Judy Panther Elite Services #5683 Morning...

I hope you have a cargo van, Pick-up truck witha Box, or the same with a van with a Box, otherwise you cannot use the standard mileage rate. and if you are using the standard mileage rate, and have personal mileage also on that vehicle, you must deduct the personal from the full mileage total...

Hi Chet, You asked: owe some taxes for 1997. I have a repayment plan set up with the IRS. As long as I continue making my payments, are my checking and savings accounts safe? [b]Right now it is, but if you default in your payments and you get a letter stating that they intend to LEVY, Once...

Is there an accounting program, a book, ANYTHING that will give me the basics on what I can deduct? I know the IRS has booklets, but they confuse more than help, I just want something to help me keep within the boundaries of deductions. Hi Ken, Sorry for the slight delay in getting back to...

Hi Frank, I sent you an email about the possibility of getting started on the Schedule C now before you get too busy. I have all of the info for 2006 and there will not be any changes between now and January 1, 2007. Best regards, David Hall David Hall Owner Operator Tri-State B087 OOIDA...

I do not intend to start driving until the spring of '08, but I'd like to start getting all my ducks in order starting after the first of Jan, 07. My question is this: Items that I'm buying for what will *become* a business, and are legitimate expenses solely for that business: can they be...

in reply to the earlier message in Oct. If I did not answer that question. The lease payments are deductiable but it cannot be depreicated. Since you do not own the truck, and you will have to release it when the lease is up this is called an operating lease. and you would have to pay the...

Morning Truckwife, There are a few questions that I have posted quite a number of time before and are in the archives. but I will post them for you. 1. What is the depreciation in years on the vehicle and can I use the standard mileage rate?. A.) Cargo Van -5 years and you can use the...

Thanks Crazynuff for the input, You have seemed to answer the question for him, which is correct, I have not really checked into it as far as you did, right after Thanksgiving, I have some Tax Update seminars, and they will be going over the LLC's indepth more Frank

I just purchased a van (in my name) but am about to form an LLC along with my brother as we plan to "team." I understand an LLC will be a tax advantage (at least in ease of tax filing) for a partnership and an LLC will be easier and cheaper to form than a regular partnership. True? [B}That is a...

Forum name: Tax Topics For Expediters. Subject: Excise Tax Posted by: themagicoen Message : I searched for this but couldn't find an answer. Okay, if I buy a truck that is less than empty weight of 33k #s I don't have to pay FET right? I'm slightly confused as to this FET. Now if I add a...

Crazynuff, forgot to mention that if you run local you cannot take the Per diem deduction at all unless the load takes you away overnight. If you leave at 4 PM and do not return until 4AM it is also not considered due to it being within a 24 hour period. You must be in the sleeper or motel...

Sorry Crazynuff, But you cannot deduct any per diem meal expense at all for a day trip, The Per Diem is for use for overnight travel only, If you run local and the company sends you within a 500 to 600 mile round trip you cannot deduct the meals. unless it contains that overnight stay. Frank

{b}Eagle River, It seems that the accountant that has all the Schneider, and Smithfield Drivers are Company Drivers, and the Companies pay for the fuel. Unless they are O/O's. Here is what the actual deduction is for your Rig Master, The Equipment is a Addon, So it must be depreicated over...

TR, The mileage rate for 2006 is $.445 per mile, I suggest that you Do not take all your mileage, Take off 15-20% for personal use, unless you have another vehicle to use. The Per Diem for 2006 is $52.00 US and $58.00 Canada, it must be multiplied by 75% inorder to get the correct...

September 29th, 2006 Here is a notice of what the Small Business and Self employed division of the internal Revenue plans on doing SB/SE Division Plans More Audits To Reduce Tax Gap The IRS Small Business/Self Employed Division says the division plans to perform more audits to reduce an...