It’s tax time truckers! Are you organized and knowledgeable about your tax deduction claims for this year? It certainly pays to be! There are over 100 tax deductions available to you as a truck driver, and we don’t want you to miss out on any! Keep these tax deductions in mind when you go to file your taxes.
Before we tell you what you may be able to deduct, we want to quickly explain the difference between standard tax deductions and itemized tax deductions.
A standard tax deduction is a deduction you can subtract to reduce your tax bill, a flat amount. Standard deductions depend on your age, filing status, etc., and may result in a larger deduction than itemized deductions.
An itemized tax deduction is an expense you keep track of during the year so you can write off when you do your taxes. This is why you need to stay organized so you can make it a habit to file all of your important documents and receipts with you on the road.
Cell phone data plans
Credit Card/Business Loan Interest
CSA Score Fees
DOT Physical Fees
Drug Testing Fees
Load Board Subscriber Fees
Real Estate Expenses
Sleep Apnea Study
Weight Charges Fees
Hazmat Clearance Fees
Wide Load Flags
First Aid Kit
The most important thing to remember is to keep all of your receipts:
You cannot claim these non-deductible expenses:
Expenses already reimbursed by your employer
Personal Loan Interest
Home phone line
Of course, everyone has a different tax situation, so just keep our advice in mind as an idea when you go to file your taxes. We want you to be prepared and get the most out of filing your taxes.