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The only person who can repair his credit is to get a copy of your Credit Report which is available once a year by going to www.annualcreditreport.com, or www.freeannualcreditreports.org Always read over carefully and check items under each credit card, or open balances that you have. It will...

Standard mileage rate? Are loan payments covered under the standard mileage deduction or can I deduct them separately? The IRS states that lease payments are included in the standard mileage deduction but doesn't mention loan payments. mOOT HI all, Moot, In answer to your questions...

There have been various questions on the standard mileage rate deduction. First of all you can only deduct the standard mileage rate in a vehicle with a GVW under 10,000 lbs. (Cargo Vans) if you are a business with your own authority you cannot take the mileage rate, (YOU ARE CONSIDERED "FOR...

I have already posted this on my tax formun category but I figured this is for the drivers who do not read my formun The IRS has relented to raise the Standard Mileage rate but they have increased it as follows: DUE TO THE HIGH COST OF FUEL: THE NEW MILEAGE RATES FOR 2011 IS AS FOLLOWS...

The IRS has relented to raise the Standard Mileage rate but they have increased it as follows: DUE TO THE HIGH COST OF FUEL: THE NEW MILEAGE RATES FOR 2011 IS AS FOLLOWS JANUARY 1, 2011 TO JUNE 30, 2011 WAS $ .51 PER MILE JULY 1, 2011 TO DECEMBER 31, 2011 IS $ .55 1/2 PER MILE Don't...

if you pay all of your estimated taxes by January 15th of the next year it is true that you will not be charged a penalty for not filing quarterly estimated taxes. It would be best to pay the quarterly taxes when you have it. It does not make a difference when it is filed and mailed in as...

hI aLL, I know I am a couple of days late in answering this post but if you did not pay by the Due Date of June 15th, You can still send in the quarterly estimated tax payment. There might be a 1% late fee, but the IRS Will Accept any payments made.:confused: Or you can double up the 3rd...

Hi All, The states that are exempt from sales tax or recieve a tax credit on there tax returns as sales tax paid to other states are as follows: CT IL MO NY, NJ Exemption #8 Vessel used for commercial fishing or as a party boat (more than six passengers and subject to annual inspection)...

Even though you are considered a joint venture for tax purposes, and 2 Schedule "C" must be made out, it is not be necessary to show income for your wife or husband as a team, the amount of income that you recieve must be split without making out a 1099, as before If you want to make sure...

Hey all you guys from FedEX, DID you know that 2 of your former drivers hAVE STARTED a leasing of trucks for fedEx, I know you Linda who I am talking about, Phyillis and Alan, there trucls are still on , but they retired from the road. They will be wiith me at Expo sharing the same Booth...

fuel expenses for say if you put in 20,000 of your own money in fuel in your truck minus fsc....what can i expect to get back? roughly.. __________________ Hi Denny, Here is what is happening, first of all is is not based on the fuel only for expenses.it works this way if you are new...

Hi all, I hope you all who did not file your tax return by this past Monday, had filed for an extension the will allow you to postpone you filing for 6 month (Oct 15, 2011) It would depend also on the state you live in, some are done electronically and others have to be mailed in. The...

There are many companies that do not send w-2's and 1099's. Here is what they are doing: not reporting the payments to you as a deduction, or are just hiding the income from the companies that thet are receiving your load money. Here is what I would do, No 1099 MISC received: on you tax...

children as employees Not really for the current tax year, but for the next. I have a 21 year old daughter that is mildly mentally retarded and is having a very hard time find a job. What I would like to do is be able to hire her as an employee. I kind of figured out that it would have to...

taxes go to become a owner operator local runs 350 what can i take off on taxes like truck payment,tires, fuel,gps need help with this Thanks As An owner/operator you can deduct all expenses except mileage on straignt truck or tractor. since the truck woudl be depreciated Cargo Van...

Re: Business Loan Application V.S. Personal Loan Application for Sprinter Van Purchas Re: Business Loan Application V.S. Personal Loan Application for Sprinter Van Purchas Thank. You all for your replies. Got the LLC done and am working on our business plan and have a Capital Expenditure Loan...

On April 14, President Obama signed legislation repealing the Form 1099 filing requirements that were imposed under the Small Business Jobs Act and the Pension Protection and Affordable Care Act. The rules would have required businesses to report any purchases of goods or services of more than...

OVM; THE MAXIMUN YEARS FOR A CARGO VAN IS 5 YEARS ON THE STANDARD MILEAGE RATE, AFTER THAT YOU MUST USE ACTUAL EXPENSES, BUT NO DEPRECIATION DUE TO USING THE MILEAGE RATE OVER THE LIFE OF THE VEHICLE. PER IRS PUBLICATIONS. AS FAR AS PROVING THE ARTICLE, MOST OF IT IS IN PUBLICATION #946...

Ok Guys and Gals, The standard mileage rate is only good in Cargo Vans, (Class B) and Pick-ups with a box which is a Class C Truck Other wise you must take deprecation and actual expenses But here are some rules on the standard mileage rate: 1. You must be leased on to one carrier with...

If you are a company Driver, you have to fill out form 2106 on line 5 B is states subject to DOT REGS YOU PUT IN THE TOTAL AMOUNT AT THE 59 PER DAY, THEN ON LINE 7 YOU ENTER UNDER REIMBURSEMENTS ON THE MEAL ALLOWANCE LINE, THE AMOUNT YOU GOT PAID FOR THE PER DEIM THAT WILL MAKE THE...