Tax season is here again, but as a trucker, you don’t have to dread it. There are a variety of ways to make tax laws work for you so that you can get a sizable return, or at least minimize the amount you owe. Use these truck driver tax tips to help you prepare to file.
No one likes to think about taxes every day, so set up a system where you don’t have to. Designate a special envelope for receipts and keep a notebook in the glove compartment to keep track of mileage. Having everything in one place will minimize your stress at tax time.
Hire a Professional
Accountants eliminate the stress of worrying whether you have filled out complicated forms correctly. As Western Truck insurance programs point out, tax laws change every year, so you need a professional to keep you up to date with the latest changes.
Think Outside the Box
Trucking is a unique profession, so your tax deductions are going to be different from those in other jobs. Potential deductions might include:
- Furnishings for sleeper berth
- Highway tolls
- Professional trucking magazines
Using these tips will help make preparing your taxes as painless as possible. Remember, the deadline to turn in your tax return is April 15.