Air fare (home to job)
Armor-All
Antennas
Batteries
Boots (steel toed or rubber)
Briefcase
Buffer (for shining truck)
Bus fare (home to job)
Calculator
CB radio and repairs
Cigarette plug-ins
Clipboard
Comcheck fees
Cooler motor
Crowbar
Disinfectant
De-Icer
Drivers License (CDL)
Ether
Fax
Floor mat
Film developing
First aid supplies
Gloves
Hand sanitizer
Hard hat
Jack strap
Laundry bag
Liquid paper
Lock
Magnifying glass
Map lamp
Money order charges
Paper/notebook
Parking
Phone
Pillow
Power cord
Rain gear
Receipt book
Safety glasses
Screwdriver
Sewing kit
Sheets
Showers
Sleeping bags
Stapler/staples
Thermos
Tie-downs
Trash bags
Toaster Towing
Truck wash
Trucker's magazines
Vacuum (portable)
Watch 
Window Screen

The answer is you already are deducting deadhead miles if you are giving us all of your expenses when you are on the road. Since you are giving us all of repairs, fuel, insurance, supplies and other trucking expenses, we are taking the deadhead miles into account. So if you drive 1500 miles and are only paid for 1400 miles, as long as we have all the trip expenses for the 1500 mile trip, we are deducting the deadhead miles. There are no additional deductions for deadhead miles.

suggestions for deductible expenses

Air freshener
Alarm clock
Atlas
Bengay
Boot repair
Brooms/dust pans
Bunk heaters/fans
Cab curtains
Camera
Check cashing fees
Cleaning supplies
Coffee maker
Cooler
Copies
Circuit tester
Truck/trailer storage
Duct tape
Electrical tape
Fan clamps
Flashlight
Fly swatter
Film for damage claims
Fumigate trailer
Hammer
Hangers
Ice
Lap desk
Laundry detergent
Load locks
Log book covers
Maps
Metal shelves
Paper clips
Paper towels
Pens/pencils
Physical (DOT)
Power booster
Radio equipment
Razors
Refrigerator
Saucepan
Seat covers
Shaving kit
Shift grip
Sleeping fan
Sunglasses
Thermal underwear
Tissues
Towels
Truck cables
Tools 
Travel bags
Tupperware
Uniforms/alterations
Visine
WD-40


Can I deduct deadhead miles?

common questions

We review your estimated tax payments on a monthly basis. Every time you send in an envelope, we update your financial projections. This allows us to estimate your taxes accurately. For this reason, it is very important to keep up-to-date on the envelopes and to notify us if your tax situation changed (i.e., you become a trainer, you may no longer claim a child, your marital status changes, etc.) 


This is question is dependent on a number of circumstances and variables that are not in your control. The biggest question is what is the resale market for trucks. If we could predict the future on this issue, the buy versus lease question would be much simpler.

What is certain over the full term of the lease or purchase, the tax deductions and out of pocket expenses are going to be very similar. A purchase may allow us to take advantage of advanced depreciation, thus you could expense more of the purchase price in the first year. This allows us to be more flexible in the amount of deductions in the first year.

A lease is sometimes easier to get out of, thus is a more conservative approach to being an owner-operator. 

If the lease is considered a capital lease (you own the truck at the end of the lease) the tax consequences are different from a lease where ownership is not going to transfer.

Our advice to you is to cut the best deal, whether it is a lease or purchase. Review the interest rate or imputed interest rate, payment amount, and terms to see which deal works the best for you from a cash out of the pocket standpoint.


 

When are the 2290 (Heavy Highway Vehicles Tax) due and do I owe for the 2290?


When are estimated tax payments due?


April 15

June 15

September 15

January 15


The following summarizes some of the important filing dates for individuals and businesses using a calendar year end.  When the due date falls on a weekend, the next business day becomes the due date.


January 15th

  • Due date for 4th QTR (prior year) estimated tax payment (Form 1040 ES)
  • Due date to file Payroll Tax Return (Form 941) and State Payroll forms for the 4th QTR (prior year).
  • Due date to mail annual information statements to recipients of payments made during prior year (1099's, W2's, etc.)
  • Due date to file information returns with IRS (1096, 1099, W2, W3, etc.)


March 15th

  • Due date to file corporate income tax return for prior calendar year partnerships and all S-Corporations, unless extension is filed.


April 15th

  • Due date to file Form 1040 and C-Corporation, unless extension is filed.  Late penalty and interest start if tax is not paid by April 15th, even if extension is filed.
  • Due date of 1st QTR estimated tax payment (Form 1040 ES).
  • Due date for prior calendar year Partnerships to file form 1065, unless extension is filed.
  • Previous year IRA Contribution is due.  SEP IRA contributions due unless tax return extension is filed.


April 30th

  • Due date to file Payroll Tax Return (Form 941) and State Payroll forms for the 1st QTR.


June 15th

  • Due date for 2nd QTR estimated tax payment (Form 1040 ES).


July 31st

  • Due date to file Payroll Tax Return (Form 941) and State Payroll forms for the 2nd QTR.


August 31st

  • Due date to file Form 2290 Heavy Highway Road Use Tax.  Full payment in the amount of $550.00 must be made at this time.


September 15th

  • Due date for 3rd QTR estimated tax payment (Form 1040 ES).
  • Due date for extended S-Corporation Tax Returns (Form 1120S).


October 15th

  • Due date for extended Form 1040, 1065 (calendar year taxpayers).


October 31st

  • Due date to file Payroll Tax Return (Form 941) and State Payroll forms for 3rd QTR.

Form 2290 must be filed for each month a taxable vehicle is first used and driven 5000 miles or more on public highways during the current period. The current period begins July 1, and ends June 30 of the following year. Form 2290 must be filed by the last day of the month following the month of first use (Example: If you purchase your truck October 5 it is due by November 30). The tax due for the full year is $550. If you acquire a vehicle and use it on the public highways in any month after July, you are liable for the tax at a prorated amount.

How often are my estimated tax payments changed?

Should I buy or lease my truck?