As an Uber driver, you are an independent contractor. Uber and Lyft do not provide a W-2 or withhold federal taxes from your earnings. As a result, you owe taxes when filing your federal income tax return. Taking advantage of tax write-offs for Uber and Lyft drivers can reduce the tax...
Truck drivers are a crucial part of nearly every industry in the world, and truckers themselves work hard to ensure the job gets done on time. Take advantage of available tax deductions for truck drivers to simplify your return and save as much of your taxable income as possible. In this g...
If you took out a loan to buy the truck, you can deduct the interest on your return. You have to depreciate the purchase price of the truck itself over several years, reflecting its loss of value as it ages. You also can deduct the cost ofbuying and cleaning work clothes-- safety glo...
Whether you drive for Lyft full-time or part-time, you’re now enjoying the pay, perks, and prerogatives of being self-employed—from setting your own hours to building customer relations. With the onset of tax season, you face a new business challenge:
How to Avoid Common Tax Filing Errors for Truckers Marcela De Vivo | July 1, 2024 Professional truck drivers face a complicated financial environment that involves a range of expenses, deductions, and income streams that are ... Read More File IFTA taxes online Exploring the IFTA Tax: What ...
Meals bought by or for truck drivers will become 80% deductible, compared to 75% in 2006 and 2007 and to 50% for most other business meals. Self-employment income or the limit on wages that are subject to social security taxes will increase to $102,000 from $97,500 in 2007. Moreover...
Drake Tax Service is an Accounting and Tax Preparation firm specializing in returns for W2 wage earners, self-employed small businesses, construction workers, truck drivers and much more. We place high value on ensuring that when you walk through our doors, you do not feel like just another re...
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Truck drivers Corporations And more Tax Resolution Assistance with audits Application for benefits Business and corporate taxes HST returns and reports Payroll Business registration Financial statements Reversal of arbitrary assessments Unfiled tax returns, up to 10 years back ...
1.What is a truck zone? The truck zone is an exclusive feature offered to ExpressTruckTax users. You can save new vehicles as you increase your fleet every year. The users can also import information about the drivers and also upload copies of Schedule 1. This information will be stored ...