Truck Driver Tax Deductions

Tax season can be a confusing and frustrating time for many people. With all of the forms and deductions, filing an accurate tax return can become a daunting task for anyone. Many people seek the services of tax professionals, while others choose to tackle the issue themselves. Regardless of who prepares the tax return, many people do not get the full refund they deserve or wind up owing money because of overlooked deductions. The most commonly overlooked deductions are work related. Most people do not know that everyday expenses for their jobs can result in lower tax liability and larger refunds. Each occupation comes with it's own set of deductions, there is a specific list of deductions for truck drivers.

Vehicle Expenses

Vehicle expenses are perhaps the most obvious deductions for truck drivers. Drivers may deduct the cost of parking, tolls, and the standard mileage rate if the company they work for owns the vehicle and the expenses are not reimbursed. If the driver owns the vehicle they are driving, they may deduct actual expenses, which include, but are not limited to: oil, gas, repairs, maintenance, fuel and depreciation.

Travel Expenses

Truck drivers spend the majority of their time on the road and as a result, incur many travel expenses. The cost of lodging, meals, and other expenses such as laundry may qualify for deductions if the truck driver is away from their home for an extended period of time. The standard meal rate will need to be calculated when deducting the cost of food expenses. This varies by locality and may change from year to year. For a detailed list of standard meal rates by locality, see IRS Publication 1542 Per Diem Rates.

Union and Trade Association Dues

Truck drivers, like many other working professionals may choose or be required to become a member of a union or trade association. These associations usually charge membership dues which are paid out of pocket or deducted from the members' paychecks. The full amount of these dues may be deducted as a work related expense.

Subscriptions to Trade Publications

In order to stay up to date on what's going on in the profession and keep current with trends, many truck drivers subscribe to trade publications or newsletter. If there is a fee for these publications, it may be deducted. In order to qualify, the publication must be directly related to the taxpayer's job. For example, a truck driver may not deduct the subscription cost of Maxim magazine because he reads it at truck stops while his truck is being unloaded.

Uniforms

If a truck driver is required by his employer to wear a uniform, the cost of this clothing may be deducted. In order to qualify, the uniform clothing must not be acceptable for street wear. If the uniform consists of jeans and a plain oxford shirt, the cost may not be deducted. If the shirt has the company's logo on it, the cost of the shirt may be deducted, but not the jeans. Note that if the truck driver wears a uniform, but it is not required by his or her employer, the cost of the uniform may not be deducted.

Miscellaneous Deductions

There are many other deductions that a truck driver may take. Those listed are the most common. Other deductions include but are not limited to: cargo losses or the cost of damage to cargo, state or local licensing, occupational or excise taxes, and insurance payments and premiums. For a detailed list of deductions, visit your local tax preparer.

References

• Jackson Hewitt: Tax Help Center: Driver
• IRS.gov: Publication 1542