Many owner-operators not only own and operate their own equipment; they all but live in their rigs: they also do most or all of the repair and maintenance on their own equipment not to mention stay in compliance with regulations.
It is important that the owner-operator find a qualified tax preparer who also understands that trucking is a unique industry with unique tax rules.
Dunham Tax Professionals is the company for you. Call us today so that we can help you start resolving your tax burdens. We will help you work with the IRS to reduce your taxes and work on repayment or other alternatives.
You may or may not be aware of these possible deductions as an owner-operator:
- Advertising
- Commissions and Regulatory Fees
- Payments to employees, other drivers and contractors
- Business insurance
- Equipment
- Health insurance
- Legal and accounting costs incurred
- Home Office equipment
- Sleeping -related accoutrements like bedding and clocks
- Retirement plans
- Repair and maintenance costs
- Truck supplies
- 2290 taxes
- Tools
- Per Diem
- Hotel/Motel stays