As of 2025, truck drivers who are classified asindependent contractorsor owner-operators (that is, not employees) are eligible to claim business deductions on their taxes. Additionally, your vehicle must be used for business purposes if you plan to deduct any car-related expenses. You’ll need ...
What Are the Most Common Self-Employed Truck Driver Tax Deductions?What It Comes Down To Discover Bonsai all-in-one business management software. Get started Do you know what business-related expenses you should be tracking to maximize your tax deductions? If you are an owner-operator truck ...
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Q. What do drivers need to know about working under this model? What additional tax filings must they comply with, that an employee driver would not? Employers are responsible for remitting payroll deductions such as CPP contributions, Employment Insurance premiums and income tax from any remunerati...
You need to organize your tax information with the help of an OOIDA guide. Know what you can depreciate and when, especially if you have purchased a new truck. What you can claim as deductions as an owner-operator under your own authority and what you can deduct as a leased on owner-...