NAICS code: 488000
Everyone knows truck drivers have the ability to navigate all the roadblocks smoothly and reach their destination without any hiccups and problems. However, truckers may have a difficult time navigating the process of tax filing and this may frustrate them and make them feel as if they are stuck in a traffic jam.
We are here to help you understand how you can file your taxes by using tax write-offs and save some money. These tax write-offs will significantly reduce the money you owe the IRS. Read along if you want to lower your tax bill.
We have put together a list of the most common write-offs for truck drivers that you can use to deduct your expenses.
GPS systems
Write it off using: Schedule C, Box 22
If you use any paid GPS system to guide you, then you can write them off!
Cleaning supplies
Write it off using: Schedule C, Box 22
Your truck needs to be cleaned frequently. The items you use to clean are also tax deductible.
FMCSA fees
Write it off using: Schedule C, Box 10
If you are paying the Federal Motor Carrier Safety Administration to update your USDOT number, then this is a business expense.
Vehicle tool kit
Write it off using: Schedule C, Box 22
You can’t travel without a tool kit with essentials you need during an emergency breakdown. Write them off.
Union dues
Write it off using: Schedule C, Box 27a
If you are part of any union team, then write them off on taxes.
Truck maintenance
Write it off using: Schedule C, Box 27a
Having a truck means regular maintenance and service checks. Write these expenses off on taxes.
Cargo & liability insurance
Write it off using: Schedule C, Box 15
Any insurance to protect your trucks and your business, you can deduct these expenses from tax.
Phone, laptop, accessories
Write it off using: Schedule C, Box 27a
If buy a phone or laptop and use it for work, it’s partially deductible.
Office supplies
Write it off using: Schedule C, Box 18
Deduct anything you buy for your office, like pens, binders, folders, printer ink, or a whiteboard.