Trucking deductions

Forum|Forum|1 year ago
September 25, 2024
1 reply
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My husband is an Owner/Operator over the road truck driver (1099 driver). Is there somewhere I can find out what expenses are deductible? The most important one to start with being meals. He is on the road 99% of the time. Is there a daily limit on meal expenses or rules on what actual business expenses can be deducted? Thank you.

Best answer by MarthaT

Yes, as trucking company you can deduct the following expenses

Fuel - Diesel
Meals
Truck Repairs & Maintenance – For example, Tire repairs, Additives, oil, etc.
Licenses, permits, registrations, and taxes – There are some permits that you need to pay on the states in order drive through the certain states, such as form 2290 taxes
Truck Insurance –
If your truck is in repair and you need to spend the night in a hotel due to the waiting time you can deduct the hotel expenses.

You can find more information at https://turbotax.intuit.com/tax-tips/self-employment-taxes/what-you-need-to-know-about-truck-driver-tax-deductions/L68YC61fS

Thank you for your question

MarthaTAnswer

Yes, as trucking company you can deduct the following expenses

Fuel - Diesel
Meals
Truck Repairs & Maintenance – For example, Tire repairs, Additives, oil, etc.
Licenses, permits, registrations, and taxes – There are some permits that you need to pay on the states in order drive through the certain states, such as form 2290 taxes
Truck Insurance –
If your truck is in repair and you need to spend the night in a hotel due to the waiting time you can deduct the hotel expenses.

You can find more information at https://turbotax.intuit.com/tax-tips/self-employment-taxes/what-you-need-to-know-about-truck-driver-tax-deductions/L68YC61fS

Thank you for your question

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