There are plenty of savvy deductions that you can make when filing your tax return as a truck driver, but there are also expenses that will not factor in. It can be hard to know the difference without the help of a tax professional. That’s why this post will go into some detail about which expenses you cannot deduct, and why.
Reimbursement for Expenses
Many employers are aware of your typical on-the-job expenses. They probably have some system for requesting reimbursement that you should definitely take advantage of throughout the year. However, having these systems in place means that you cannot deduct these expenses from your income when filing your taxes.
Commuting is a big chunk of the day for many workers, in all industries. For truckers, in many cases, they’ve got a few commutes to make before embarking on a haul. If you need to go to company headquarters, then the gas you burn getting there is entirely up to you to pay for. Driving to the truck yard can be reimbursed, but usually, you’ll have to ask your employer for their policy rather than deducting this on your tax return.
Most people use a lot of different odds and ends when they’re working, but it’s important to have discernment about what you’re claiming as a deduction. Things like clothes, routine doctor visits, and a home phone line legally fall outside of the realm of your job. A cell phone with internet access can be deducted, but only up to 50% of the costs.
Overall, there are so many deductible expenses for truckers that there’s no reason to worry about not getting the money back for these things. Working with reasonable employers that are willing to reimburse you for job-related costs is another great way to protect your financial interests.
Baltimore Freightliner-Western Star for All of Your Trucking Needs
Whether you are looking to upgrade your fleet to tow trucks or simply interested in the latest trucking technology, you can rely on Baltimore Freightliner-Western Star, a new truck dealer. We have provided top-notch service for the trucking industry for 30 years and would love to assist you in buying a new top-of-the-line truck, finding the specialty parts you need, or repairing your truck. Give us a call toll-free at 800-832-7278 or locally at 410-685-4474, or contact us online. To find out more about what we are up to, follow us on Facebook, Twitter, Pinterest, and Google+