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Thank you Archer

Its only a suggestion, the main thing is if you play with numbers They will AUDIT YOU, if they feel the return doesnt jive to them. If you use the standard mileage deduction for a vehicle that is over 10,000 GVW, You could be disallowed the deduction due to the phrase "FOR HIRE", OR IF YOU...

I have available to all a 2012 Trucker Income Tax Organizer, Complete listing of allowalbe deductions (16 pages broken down by catergory and items) and other information that is available by request, Please forward your e-mail address requesting this information to...

Llc's the uglyHI ALL, THIS IS THE FINAL AND THIRD STAGE OF THE LLC, IF THESE DECISIONS ARE NOT MADE. YOU WILL HAVE PROBLEMS. PART III LLC'S THE UGLY 1. Improper formation of the LLC- Failure to meet taxpayers needs A. When the LLC is not the proper formation: 1. Business operates crossing...

Llc's part ii the bad.AD: PART II LLC Disadvantages While a limited liability company (LLC) offers many advantages over other forms of business entity, there are also some disadvantages. Some of the drawbacks to selecting an LLC over another entity are: * Earnings of most members of an LLC are...

L.l.c'sThis was originally posted in July 2008 LIMITED LIABILITY COMPANIES; IN 3 PARTS- GOOD , BAD AND THE UGLY PART 1, THE GOOD: 1. Much less administrative paperwork and record keeping than a Corporation: 2. Pass-through taxation, no double taxation, unless the LLC elects to be taxed as a...

Choosing your Business EntityI posted this around February 2009 in reference to what you can choose as a Business Entity In the paragraphs below you will find the forms of what types of business entities that are available. FORMS OF OWNERSHIP One of the first decisions that you will have to...

I know of a lot of drivers using Turbo Tax, Tax Act, and and Blocks Tax Cut, I only have one bit of advice on these return processing softwares, IF YOU ARE AUDITED BY THE IRS FOR ANY REASON, YOU BETTER HAVE ALL THE ITEMS THAT YOU DEDUCTED ON THAT RETURN WRITTEN, AND ACCESSIBLE TO THEM...

Am Sorry Bubblehead, but the TRIKE IS NOT CONSIDERED A VEHICLE FOR PICKING UP PARTS, AND it must be actually a Registered and Taged Vehicle for mileage deduction Franklin Katz Franks Tax & Business Service 315 E. King St Kings Mountain, NC 28086 704-739-3934 Temporary contact #

For any Straight TRuck over 10,000 LBS GVW cannot use the mileage rate, it must use Actual Expenes, Fuel. tolls, repair, insurance etc, only Franklin katz 315 E. King St Kings Mountain, NC 28086 704-739-3934 for now 704-739-4039 has not been reconnected yet. since I moved on Feb 4th

Hi, sorry for the delay, but I was forced to move my office last week and have not had iphone service or nternet acess. week of Feb 4th, If you do not recieve your 1099, or w-2's by the end of this week, call your owner, or company and tell them that if you do not recieve your papers your...

It seem to me it should be July and Oct. I know, it has been bothering me for years on why they are not payable on July ans Oct 15th instead, but that is the way they want it, it screws up the accounting periods for figuring the quarterly P & Ls Frank

January 1,2013, everything old becomes new, As it stands as of today the tax cuts in force for the past ten years will expire, the payroll tax cut on Social Security will expire and the rate will go back up 2% to its original amount. New taxes in many states could become law and active in...

Hi, I can only suggest that you read IRS Publication 544, Sales and Disposition of Assets, it will give you a much better explanation than I can of it being taxable either as Ordinary Income, or a Capital Gain. the capital gain tax rate is a little less percentage point then you total income...

My Suggestion is any of the ones listed below, Quickbooks Pro Quicken Business MS Excel Microsoft Works Spreadsheet MS Money The difference with the Quicken Business is that it has a transportation Chart of Accounts already built into it, the only thing you would have to do is give each...

Hi All, I said in a previous replay to this thread that a LLC only protects you in your home state, but there are very few that work together. Check your laws concerning these LLC's As far as a Sole Propreitor, you can set up a payroll account and have taxes withheld, but you must pay...

Ragman, How do you get away as a Non-profit, watch out they are going to audit approx 1 million non profits this year All others, If you are a Full corporation, or "S' Corporation, you must take a resonabile salary, and have taxes taken out, it is completely deductible to the Corp. you...

The fuel tax rate for PA is $ 0.381 cents per gallon, I have tried to check on the mileage tax rate but could nofind them for you state, but you can go to ExpeditersOnline.com Expedited Trucking Owner Operator Careers and Truck Sales .Com to find all the tax rates per gallon per quarter. Did...

Morning mjmsprt40 it is the total mileage that is used for business. that is from the time you leave the office, and return, doesn't make any difference weather its dead-head or not. But, I do not know what company which is normally at the end of it, and you work for, but I myself would...

SORRY for THIS NEWS, but the mileage rate has not changed yet, no notices have been updated or received to date. The standard mileage rate for all of 2012 is $ 55.5 per mile driven for busienss miles only For Cargo Vans, up to 10,000 GVW only Also, you must keep a accurate record of each...