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Watching for the girly mud flaps while on those “station wagon vacations.”

October 12, 2010

When I was a kid we did a lot of “station wagon travel” for vacations. I liked sitting in the back between my angry sister and brother while I watched the road for the huge truckers that sped by with their girly mud flaps reminding us that they ruled the road. Years later as I went thru tax school, set up my business and interview clients that are truckers, I think back on those station wagon vacations and smile.

Here is an official “Over-the-road trucker expense list.” Look at it, Over-The-Road Trucker Expenses List, it’s huge! So much that they are able to write off…do they know? My clients do! Truckers are either self-employed or work for a trucking company. And sometimes when they work for a trucking company they can still be self-employed, as a statutory employee; meaning they can still use this list! If you are a statutory employee you would still receive a W-2 from your employer but  the statutory box (that’s box 13) would be checked and you would then be able to use the list and complete a Sch C (where self emploed folks list their expenses) and include it with your tax return.

The basic rules of thumb are the following for expenses: 1) keep all receipts including those point of sale receipts, (2) pay all bills with a check or debit (or credit) card, and (3) anything you pay cash for without  detailed receipts or a bill of sale is treated as a non-deductible personal expense….so you need that receipt!  Bring all those items to our office and we can help you fill out that trucker expense list. We are here to help, call us at 212-979-6830 and visit our website at www.gunwel.com . See you soon!

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