Death and Taxes?
posted in Alerts by Brian Gray
Death and Taxes?
Someone once said the only things certain in life are Death and Taxes. Unfortunately, it’s income tax season and the most common tax filing mistake that drivers make is not filing their taxes at all.
According to an article by FleetOwner, most fleet drivers do get tax refunds because of their per diem payments from the carrier against their expenses. Drivers don’t have to declare these per diems, but if they don’t, they can’t itemize deductions against it.
For example, deductions for a cell phone can hit $1,500 a year and even smaller on-the-road expenses like packets of batteries, paper towels and air fresheners can add up over a year’s time. By not keeping these small receipts and logging the costs in a notebook it can cost a driver thousands of dollars annually.
If you need help getting your accounting records tabulated and ready for your Tax Accountant, Glostone Trucking Solutions partners with Jennifer Makin of Makin & Associates.
Jennifer specializes in providing accounting solutions to small trucking companies. She uses QuickBooks software to organize your records and provide you with the financial reporting you need to run your business and income tax reporting. Jennifer also provides very affordable payroll services.
Call her for an appointment at 503-908-7282.
