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I agree with Ragman, make the time, yesterday, and get on a plan. There are penalties, fines, interest, that you may have to pay if you don't make those quarterly payments

Better get a CPA quick, he/she/it can advise how much your quarterly payments should be.

Nothing we have seen comes close to what you are posting. It's state by state for rates and even sometimes city by city.

I would suggest the you get an accountant that understands trucking. There is no use in messing around, after all, it is the IRS you would be messing around with.

I would suggest 20% instead of ten. I would also suggest that you have AT LEAST 6 months personal AND business expenses in the bank. A year of each would be better. If things go south with the economy you are going to need it. Things are shaky right now, be careful. How long have you been in...

NO government can be trusted. NOTHING is worth losing ANY amount of freedom for. You might be willing to give up freedom for security, I am not. I KNOW that if that happens, I will have neither. Last century governments around the world were responsible for the MURDER of 100's of millions of...

Why should we have too? We already have receipts for every repair that we claim on taxes. The taxes on the profits of those shops have already been paid. IF audited I have all the records. If the shops are audited THEY have all the records. This is just ANOTHER case of government getting in the...

I guess I need to get with my accountant when we are home next time. When does all this stupidity start? :mad:

We have all of our records on a hard drive, a flash drive AND, at the end of the year, we put everything on a DVD and keep that in the gun safe. Paper files are keep in a box. We keep what little paper we have just to have it. You can't read them little receipts after a while.

We are not using a software accounting package. Mrs. Layoutshooter put together our own system based on an Excel spreadsheet. We added/subtracted different cells until we got exactly what we wanted. It suits our needs perfectly, being 100% designed for our business.

Yeah, I could not remember if it was 1/2 or 3/4. Thanks.

Does that give you a close enough picture to prove like, 1/2 per diem? For when you arrive at home or leave home?

What is the "official" IRS requirement for keeping log books to verify per diem?

Yepper!! At least in this business I only have one boss most of the time. :p

Mrs. Layoutshooter informs me that we have been deducting it ever since we put it on the truck. She handles that end of the business. I guess I should just ask her what is going on, eh? :p

Thanks for the info.

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?

I don't know how it works in trucking or if things are different than they were in the mid-70's but I used to workd for a company in Detroit that did EXACTLY that. The company was Detroit Ball Bearing. It was a family owned business. The same family owned the real estate company that leased all...

True OVM, just trying to be sure. As taxes become more and more anti-business in this country one must be sure of what one is doing. I cannot afford to be giving money away. I doubt that many of us can. layoutshooter

Our account tells us are records are better than 95% of the businesses he deals with so I am fairly competant about our numbers. We can and do file online but that just goes to the IRS and I have a funny feeling that they might not have our best interest in mind. I was wondering about a good...