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To Eagle, I did not forget that you were the original person asking the question, but since Team caffee also asked I figured I would anser both, in one, but forget to mention your name. Frank

Frank we have an Rig Master do you get an automatic deduction of the 300.00 or do you get a precentage of fuel used? Bob & Linda Caffee O/O D6077 FedEx CC Bob & Linda, Hi, There is no automatic deduction, Since the Rig Master is a aftermarket addon and was not purchase with the Truck it...

"fuel tax & APU usage" Nov-05-06, 09:40 PM (EST) My accountant says I can get an extra $300 back a year, because of my new APU. How have other users done it? If you do not mind, May I ask what your APU is? Yes, Fuel tax is a Deduction. Franklin Katz, ATP

Here is the New Standard Mileage Rate for Cargo Vans and Pick-up/Van bodies with 8-14 Ft boxes only. IRS Announces 2007 Standard Mileage Rates IR-2006-168, Nov. 1, 2006 WASHINGTON — The Internal Revenue Service today issued the 2007 optional standard mileage rates used to calculate the...

[b] Updated list of "Retention of Tax Records Posted 9/28 I have an updated list that is about 3 pages and I do not want to take up the thread with it, So if you would like to have a copy Please E-mail me directly at [email protected] Frank

HERE IS A TAX COURT CASE IN REFERENCE TO CLEINT RECORDS This is a generalization of why you must keep accurate records Client Recordkeeping Makes a Difference All too often, taxpayers do not keep adequate records. Let’s take a look at some of the highlights in Tax Court Summary Opinion...

For those of you who would like a full IRS notice of how to substantiate your PER DIEM it is available to you by sending an e-mail to me directly at [[email protected]], Frank

Truck Lease" Oct-09-06, 02:16 PM (EDT) Hello Frank,We have our truck financed through a track lease.We paid a down payment and are making a payment every month.When this track lease is up and all payments are made,what happens from here?We were told that we had to pay so much more money to...

I PULLED THIS OFF OF TRUCKSTOPSUSA.COM, JUST IN CASE YOU ARE WONDERING WHY FREIGHT IS SLOW http://news.moneycentral.msn.com/provider/providerarticle.asp?feed=AP&Date=20061002&ID=5936434 the pressure will be on for some companies that are up to debt to their ears..more downfalls will be...

is that including the monthly payment charge or separate. What that insurance co is doing is financing your premimun through a finance company due to the fact that cannot handle the paper themselves so they factor it out and inturn you are charged for it. Frank

Thank you for the information Frank. Since we do not own the truck, we are driving for a fleet owner, should we still have a separate business account? Steve & Judy CR3107 Hi Steve & Judy, Yes. This way you do not have to go though all the hassels of going through 2 accounts to pull up...

HI ALL, Here is a copy of an e-mail that I recieved from a Concerned Truck Driver, QUOTE: We support enough people who hate us with our millions all over the world. The station owners will have to start buying from some other company. Cindy & Chavez Venezuela Dictator Vows To Bring Down U...

Regarding ATM receipts and bank charges, our bank lists the ATM fees and services charges separately, so is the bank statement documentation ok, or do I still need to keep the actual receipt? Thanks Steve & Judy CR3107 Hi Steve and Judy, It is best to keep both, you have to keep your...

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 almost...

Hi, I dont remember your Name, but we were talking about my service for your 2 trucks and got disconnected. I tried to call you back but your number was blocked on my caller ID. RE: You Are a Corporation You own 2 trucks You have your own authority An you wanted me to send you some...

I don't knowabout you guys, but when I was on the road and most of the time we were not given the consignees Phone #'s when I got inthe area or the closest truck stop, I checked in the phonebook and got there direct number or uses the Yellowpages on the web, when I got the load to get it, I...

What about log books? If using the allowable daily PerDiem instead of actual on road expenses? Rex Straight Truck O/O OOIDA# 708441 Rex, You do not use the per diem instead, it is used in conjunction with all of your expenses. so it is a separate deduction but only 75% can be used of the...

rode2rouen Member since Oct-14-04 355 posts 8 feedbacks 16 points 1. "RE: Retention of Tax Records" Sep-22-06, 10:20 AM (EDT) In response to message #0 What about log books? If using the allowable daily PerDiem instead of actual on road expenses? Rex Straight Truck O/O OOIDA#...

Here is a topice that comes up quite often, and this would pertain to everyone. This is something that I have been asked quite a bit over the last 7 years Since I opened my Tax Practice. The question is "HOW LONG DO I HAVE TO SAVE MY TAX RECORDS?". As all of us know the IRS has tyically three...

Hi Bonnie, Your cannot take the full per diem on any tax return. due to the fact that 70% of the total is the only deductiable amount that is acceptable. that figure was for 2004, and 2005, for 2006 the amount is 52 (US) and 58(Canada. and ithe total is becomes 75% of the amount that is the...