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hI ALL, MY WIFE AND I WISH YOU ALL A VERY MERRY CHRISTMAS AND A HAPPY NEW YEAR FROM Franklin Katz, ATP,PA, PB and Mary Ann Katz

QuickBooks Pro 2009 Question -------------------------------------------------------------------------------- My wife and I started a new trucking bussiness several month ago. We are using QuickBooks Pro for our accounting software. How do we enter into quickbooks the following...

In the case of a husband/wife team driving for an owner, would it be better to have the owner make one 1099 to the husband and then have the husband make a 1099 to the wife for a lesser share...I was thinking that this way they would both be eligible for the per diem but maybe would save on...

Dakota, I left off one important item, the deposit that you put down on the truck to lease it is also a deduction, this is done this way it is considered a 179 deduction and fully deducted. lets say truck leased at $1333.33 plus interest per month for 60 months, adn put up $5000.00...

Leasing ?'s -------------------------------------------------------------------------------- Okay, in another thread, I have been told that my lease payment is not tax deductable. I don't know if this is true or not I pay a lease payment and then an .08 cents a mile fee for my...

tHE NEW MILEAGE DEDUCTION HAS JUST BEEN POSTED ON THE MY ASSOCIATIONS WEB BOARD. STANDARD MILEGAGE RATE EFFECTIVE JANUARY 1, 2010 IS $. 50 CENTS PER MILE BUSINESS MILES $ 16.5 CENTS PER MILE MOVING AND MEDICAL $ .14 CENTS PER MILE FOR CHARITY Franklin Katz, ATP ,PA, PB Frank’s...

All the answers are correct, if you stay out for weeks at a time, if you have no one at home use a Mail boxes(UPS Store)that way the USPS will not complain about over filling a PO Box. When a Tax Return is now made out it must have a physical address, in the address line, and all software...

NOW HERE IS THE BIG QUESTION????????????????? What???? is he going to let you take as tax deductions.????? the $1200.00 for WHAT, it seems that you are making his payment for him and he is getting away with everything else. IF is it a new vehicle everything is under warrenty, and he doesn't...

To POORBOY LLC Thursday, November 12, 2009 5:47 PM From: "Franklin Katz" <[email protected]> My recommendation is do not form a partnershio LLC yet until you check out your own state laws in reference to the LLC/ 1. You still need a Federal Tax ID #, Employer...

Hi all, It seems that there is a problem with the approximate 15% personal use of a cargo van if you do not keep accurate records for that personal use, That use is considered for shopping for food stock up, clothes, movies, or any entertainment that you chose to do on the road...

#1 (permalink) Lawrence Administrator Join Date: Nov 1999 Location: Florence, Kentucky, USA Posts: 4,264 Cinderella and the Stroke of Midnight -------------------------------------------------------------------------------- We're all familiar with Cinderella's...

Before signing on -------------------------------------------------------------------------------- Before we (husband & wife) sign on with an owner, what if anything schould be prepared for referance our tax structure etc.? Thanks, Buddy __________________ Hi Buddy, Since the...

From what I have read the Per Diem has once again changed as of October 1st 2009. $59.00 per day in the states $65.00 per day in Canada Hey All, This is definitely the new per diem rates for 2010, but the tax law is quite stanuch on this item. If you are in the transportation...

Very good stressing the 3rd quarter P & L, It will help a gerat deat if it is done properly Frank

Hey People, When I was Driving for CTX (1998-2002) myself before I hired a Driver, I had been dispatched to Chryslser in Lansing, MI going to Birmingham, AL. I was given this load due to that I had to be in Atlanta, for the IRS Tax Forum that started on Tues. When I was dispatched, and...

10 Questions pertaining to your taxes 1.Refund Inquiries Question: Can a person receive a tax refund if they are currently in a payment plan for prior year's federal taxes? Answer: As a condition of your agreement, any refund due you in a future year will be applied against the amount...

Moose, Your questions to ask are basically correct except 1! If you leave at 4 AM in the morning and return at 6 PM you stated that it was able to be deducted as a per diem day. This is not considered a Per diem Day due to the fact that inorder to receive it you must be out 24 hours...

Hi All, I have some inportant information that you might consider signing up for if you want to save tax dollars, and bring your bottom line down. It called Biz plan: What Is BizPlan? BizPlan is a Section 105 Medical Reimbursement Plan. With BizPlan you can deduct 100% of your...

Frank, Would your logbook also verify where you did your laundry or anything you did not get a receipt for? __________________ Bob & Linda FedEx CUSTOM CRITICAL Owner/Operator D6077 OOIDA # 697330 TeamCaffee Yesterday, 11:09 AM #3 (permalink) OntarioVanMan...

Hi All: it seems that there is no way that a driver can prove any additional expense, like laundry, showers (if not free), and other items that he spent $$$$ on and cannot get a receipt Below you will find a format for those expenses, Please Copy and paste to whatever printed format...