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Question: I pick up a load on Monday at 6 am and deliver the same day at 5 pm (not in my home area). Then I sit empty waiting in the truck on freight for the next 5 days. Can I claim all of the days both travel and waiting days (6 total) as per diem days?

Thanks Moot and Frank for your input.

Hi Frank, I was reading some posts on a tax forum regarding the per diem deduction for an owner/operator and someone indicated that you have to take the actual expenses if filing a Schedule C. Is that correct? Best regards, David

Standard mileage rate. The term "standard mileage rate" means the applicable amount provided by the Service for optional use by employees or self-employed individuals in computing the deductible costs of operating automobiles (including vans, pickups, or panel trucks) they own or lease for...

A taxpayer may not use the business standard mileage rate for a vehicle after using any depreciation method under the Modified Accelerated Cost Recovery System (MACRS), after claiming a Section 179 deduction for that vehicle, for any vehicle used for hire or for more than four vehicles used...

OK, my van is my personal vehicle and I use it in a commercial application. So, you are indicating that I can not opt to take the standard mileage deduction and I must use the depreciation method?

Frank, This is the post I was thinking about. Are you saying that if I have my own authority and I am also leased to a carrier and I receive income from both sources, that I can not take the mileage deduction?

Frank, Many carriers permit Lease Owner/Operators to also have their own authority. I thought that I read a post indicating that having reportable income from both of these sources during a tax year would somehow generate a closer scrutiny by the IRS. Any thoughts?

Dear Frank, Is there a rule of thumb regarding which is the better way to go? I bought a 2008 van in August and I only had about 33,000 miles for 2007. Which method will reduce my tax liability the most.

I have two cell phones and an Air Card. I deduct 100% for them. I have a landline for personal calls, and my DSL, at home. This indicates to the IRS that I have made the necessary arrangements to keep my business and personal communications separated; hence, no conflict of interest. ;)

Frank, you wrote: You have to remember Cargo Van Drivers get 2 Major expense deductions, the Per Diem and are allowed the standard mileage rate. Depending on whether they in the first year they use it. a business person cannot jump from mileage to actual and back to mileage. Once it is...

Thanks Mr Katz! Yes, I was at the breakfast. I did get by your booth later on in the day. Good to see you again!

O/O sells his cargo van in 2006. He gets back into the business in 2007. In the process of purchasing a new van he trades in a personal vehicle, but takes a loss on the trade vehicle. Can the loss on the trade vehicle be a deduction in 2007?

O/O sold his cargo van in 2006. He gets back into the business in 2007. In the process of purchasing a new van he trades in a personal vehicle, but takes a loss on the trade vehicle. Can the loss on the trade vehicle be a deduction in 2007?

I have a friend who is a cargo van driver and he only settles one time per year. He has never sent an "estimated tax payment". That leads me to believe that the estimated payment is optional. Yes? No?

Thank you for your reply. I will be calling you for some additional information. Best regards, David Hall

Hi Frank, I sent you an email about the possibility of getting started on the Schedule C now before you get too busy. I have all of the info for 2006 and there will not be any changes between now and January 1, 2007. Best regards, David Hall