Tax Deductions for Truckers

Between the months of January and April, Americans work at a harried pace to determine how much they owe the U.S. government. For many, this bill is in the negative, resulting in a refund. Others are stuck with a debt to Uncle Sam. To reduce these tax debts, taxpayers can use itemized deductions. For truckers especially, the list of items that one can deduct is quite large. An organized trucker can greatly reduce his tax burden using all of the allowable tax deductions.

Needed for the Truck

Items needed for the truck, including parts, tools, safety equipment and even certain items for interior and exterior cleaning are tax deductible. The premise is that the truck is required to perform the job of "truck driving." Thus any items needed to maintain the truck is an unavoidable expense and can be deducted. Specific items include linens for the bunks, wrenches, tie-downs, shop vacs (cleaning) and a CB for communication.

Administrative Expenses

Even truckers have paperwork to deal with. Thus any office equipment like computers, printers, faxes are tax deductible (and also depreciable). Supplies like log books, printer ink and paper, pens, pencils and rulers also fall into this category. Fees for faxes, postage, internet and phones lines dedicated to the fax or internet are tax deductible. Some truckers use prepaid internet services available at the truck stops--those fees are tax deductible. Even those wireless cards and USB modems offered through the cellular companies are tax deductible. You can even deduct the amount of the monthly bill.

Entertainment and Education

Truckers often spend the majority of the tax year on the truck. That is why the U.S. government allows them deductions for entertainment items like movies, movie rentals, televisions, DVD and some people have even successfully deducted a Blu Ray player. In addition, training materials are tax deductible. This includes trade magazines and any videos or textbooks required to keep on top of the industry standards. The fees for seminars and courses for the same purpose are also tax deductible.

Per Diem

The per diem is a number calculated by the government to cover the food and living expenses. Truckers can multiply a specific dollar amount to the number of days that they are out on the road. This makes up the per diem deduction. It is often much larger than the standard deduction. You must keep your log books for at least two years in arrears in case of an audit.

Miscellaneous Deductions

Other less known expenses that are tax deductible are credit card fees, association dues, the costs of DOT (Department of Transportation) required physicals, uniform maintenance, dry cleaning, ATM and Comcheck or Comdata card fees are just some of those deductions. Truckers are urged to seek professional help when completing their tax forms in order to take full advantage of all deductions allowed.

References

• A basic list of tax deductions for truckers
• Information on trucker tax deductions from a professional tax service