Trucking and freight
Trucking and freight: the tax questions worth asking early
Per diem, fuel, settlements, and equipment financing all carry their own record requirements.
Decisions that change the picture
- Buying or leasing a tractor or trailer.
- Running as an owner-operator under someone else's authority versus your own.
- Adding a second truck and a driver.
Records worth keeping as you go
- Settlement statements showing deductions taken out.
- Days away from home for per diem purposes.
- Fuel, IFTA, maintenance, and permit records.
Questions to bring to your tax pro
- Is per diem being handled correctly for how I actually run?
- Does buying or leasing the next truck fit better with my numbers?
- What changes once I have a driver on payroll?
This guide is general information, not tax advice. Your tax professional decides what applies to your business and your filing.
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