Sign up for The Wire Newsletter!

Search results

  1. layoutshooter

    XM deduction

    I was listening to the Lockridge report today, they had some tax guys on. Those guys claimed that XM radio was a legit tax deduction. It is considered a "business too" since it is used for traffic reports, weather etc. Any ideas?
  2. layoutshooter


    I am still quite new to this business, only 3 years total and a little over one as an owner. I use a local accountant that we have used for many years. He has handled my wife's real estate businss when she was in that. We stayed with him because we know him and he is very honest with us. What I...
  3. layoutshooter

    Quarterly Filing

    I have always been under the impression that you had to file quarterly estimated taxes. I have been hearing several truckers at truck stops lately that say that they never file that way and have never been charged penalties, late fees etc. It sounds funny to me. Am I right? My C.P.A. says I have...
  4. layoutshooter

    car rental deduction?

    When my truck breaks down on the road and it has to be in the shop for several days I rent a car for transportaton. IS that rental deductable? Layoutshooter
  5. layoutshooter

    Income splitting

    How does a O/O (one truck) account for the income/taxes on that business? Do you pay yourself a 1099 and the business pay it's own taxes or do you just pay it all yourself? Should a single truck be totaly split off from the household taxes? My CPA says that a total split is not needed for a...