How to File Taxes for a Trucker
There are two things in life that are certain--taxes and death. Unfortunately, the latter is the easier of the two. Filing taxes can be a complicated and confusing process for anyone. When filing taxes for a trucker, it is very important to understand the proper forms, deductions and allowances to prepare an accurate tax return.
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Things You'll Need
- Tax documents
- IRS Forms 1040 or 1040A, Schedules C and SE
- IRS Publication 17
Instructions
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Keep detailed records for the entire year. Save all receipts for business expenses such as meals, lodging, uniforms, laundry service and union dues. Also keep written records of mileage and gas used in a logbook.
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2
Gather all W-2s and 1099-MISC forms, expense documentation, tax forms, instructions and Internal Revenue Service Publication 17. Enter all expenses on Schedule C to figure the net profit or loss for the tax year. Use the net profit figure on Form 1040 and Schedule SE.
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3
Use Schedule SE to compute the self-employment tax for income reported on Form 1099-MISC. Enter half of the self-employment tax, as a deduction, on Form 1040 line 27. Enter the total self-employment tax on Form 1040 line 56.
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4
Figure the total tax on page two of Form 1040. Determine if any credits may be claimed on this return and fill out the appropriate forms to calculate credit amounts. Add all credits and taxes paid to figure the total payments. If the total payments are greater than the total tax the taxpayer is entitled to a refund. Total tax that is greater than the total payments will result in a balance due.
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Check over the completed return to be sure there are no errors. Sign and date the completed tax return. File the return and all attachments with the IRS no later than April 15.
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Tips & Warnings
Visit the IRS website to find additional tax information and filing options.
References
Resources
- Photo Credit tax form image by Kirill Zdorov from Fotolia.com
