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HI RICH, IN ANSWER TO THE QUESTION ABOUT KEEPING LOG BOOKS. ALL OF YOU ARE CORRECT EXCEPT WHEN IT COMES TO THE IRS. IF YOU ARE AUDITED MOST WANT THE LOG BOOKS AND ACTUALLY GO THROUGH EACH AND EVERYONE OF THE PAGES TO SEE WHEN YOU LEFT AND RETURNED TO YOUR MAIN PLACE OF ABODE, DUE TOTHE FACT...

Old Prof, the mileage deduction for 2004 is 37.5 cents per mile figure for 2005 is 40.5 cents per mile your vehicle when you decide to either sell or trade in all the deductions weather being mileage or depreciation has to be recaptured when either is completed you have to list the vehicle on...

RE: Anyone have a good recommendation for reefer i First of all if yo u get a reefer unit, there is a very good chance that you will mostly get produce and taking it to mom and pop supermarkets or the larger food distribution center which really you do not want to get involved with, I 've been...

i THINK THE PROBLEM WITH THEM IS THAT THEY HAVE NO WORKING CAPITAL AND RELY ON PAYMENT FROM THERE SHIPPERS. sO REALLY THEY DO NOT HAVE THE $$$$ BEHIND THEM TO PAY YOU THE ACTUAL SETTLEMENT LEGAL LAW ACCORDING TO DPT REGULATIONS IS 14 DAYS YOU MUST BE PAID, IF YOU HAVE A CURRENT DOT PHYSICAL...

Hi Oldprof Thanks for the info, Frank. Can you take mileage deduction AND vehicle and equipment depreciation both? theoldprof NO YOU CAN NOT TAKE BOTH ITS EITHER ONE OR THE OTHER, MILEAGE IS ONLY ALLOWED IN A CARGO VAN, OR BOX VAN,"B"OR "c" UNITS MAXIMUN YEARS FOR MILEAGE IS 5YRS YOU...

"owner,lease" Nov-24-04, 11:57 AM (EST) I am considering leasing my cargo van to a contractor. How would the Owner and the contractor claim expenses and depreciation. Driveguy207 Hi Driverguy207 First of all make sure you have a written contract between yourself and your contractor...

HI LEO, IF YOU SEND ME A REGULAR E-MAIL TO [[email protected]]. I HAVE THE MANUAL IN THE BOOK FORM WHICH I HAD ORDERED 2 YEARS AGO, THE FORMS ARE ALREADY COPIED AND READY TO BE SENT. THEY ARE IN EXEL AND WORD FORMAT. SO YOU WOULD NEED BOTH PROGRAMS. THERE IS A POSSIBILITY THAT THEY ALSO COULD...

HI OLDPRO THE MILEAGE DEDUCTION IS FOR ALL MILES EXCEPT PERSONAL USE. SO IF YOU HAVE NO OTHER VEHICLE AT HOME, YOU MUST DEDUCT THAT MILEAGE FROM YOUR TOTAL, NORMALLY WOULD BE 10-15% LESS THAN ACTUALLY DROVE, WHAT IT BOILS DOWN TO IS LETS SAY YOU PUT ON 78000 MILES USING 15% AS PERSONAL YOU...

HI BROOMPILOT, THERE IS A PERCENTAGE THAT YOU USE FOR THIS. ITS 70% FOR 2004 AND 2005 IF YOU ARE GOING TO DO YOU OWN RETURN WITH OVER THE COUNTER SOFTWARE, MAKE SURE YOU ENTER THE SAME FIGURES UNDER MEALS & ENTERTAINMENT IN BOTH LINES, AND IT MUST SAY SUBJECT TO DOT REG'S IT IS BASED ON THE...

Thanks Glen, HERE'S SOME MORE. THE PER DIEM RATE FOR 2005 AT THE PRESENT TIME WILL STAY AT THE RATE OF $41.00 IN THE us AND $46.00 IN CANADA. FRANK

IRS SETS OPTIONAL MILEAGE RATES FOR 2005 IR-2004-139, Nov. 17, 2004 WASHINGTON — The Internal Revenue Service today released the optional standard mileage rates to use for 2005 in computing the deductible costs of operating an automobile for business, charitable, medical or moving expense...

Dave wrote <Hello Frank, you have a lot of knowledge in the tax area for truckers and expediters. I have just started in the biz. And boy, do I have questions. I really need to talk to someone on all the right ways to file the taxes and on what receipts to keep etc. I live in Dearborn,MI. I do...

I USE TO BE LEASED TO CTX UNTIL THE BEGINNING OF THIS YEAR, AUTO FREIGHT WAS THERE MAJORITY THAT WE PICKED UP WHICH INCLUDED LEAR, AND A FEW OTHERS THIS WAS CONSIDERED CHEAP FREIGHT WHICH IT WAS, BUCK A MILE LOADED AND WE RECIEVED $ .58 ON A DOLLAR. NOW I THINK THERE PAYING AROUND 80 CENTS A...

A supervisor (smart #####)heard this and came over and picked up my bill of lading. He pointed to the shipper section and asked me if that was my company. Of course I said no. Then he pointed to the consignee section and asked if that was me. No again. Then he pointed to the carrier section and...

HI, 1. I ONLY HAVE A FEW THINGS TO SAY ABOUT OWNERS, CHECK THEM OUT THROUGHLY WITH THE B.B.B, ATA, OOIDA, AND WITH OTHER DRIVERS TO SEE IF THERE ARE ANY COMPLAINTS ABOUT DRIVERS NOT GETTING THERE FAIR SHARE. 2.MAKE SURE EVERYTHING IS PUT INTO A WRITTEN CONTRACT BETWEEN YOU AND THE OWNER...

DIESELDOCTOR, I HAVE USED THE STANDAND MILEAGE ON QUITE A NUMBER OF RETURNS, THESE RETURNS THAT WERE COMPLETED HAVE NOT BE AUDITED AND STILL USE THE MILEAGE ON MY CARGO VAN. THE AUDIT TRAIL OF A TRUCKER BEING AUDITED WOULD BE RED TAGS, BUSINESS USE OF HOME OFFICE CELL PHONE USEAGE, EXCESS...

Have seen some references to being able to use a standard mleage deduction for a van up to 10,000 lbs GVW. The way I read the IRS law is you CANNOT do this if the van is used for hire. (Following statement copied from IRS publication 463 section 4) "You cannot use the standard mileage rate if...

Hi, I've been thinking of contacting you to do our taxes since the guys at H&R Block didn't seem to know much of what was going on. Me and my partner "own" a hous together at the moment but are trying to get it rescinded though a lawsuit with the mortgage company.Do you know any thing about...

Hi Bob, You asked. <Newbie with a question...how would you go about finding a C.P.A. in the area in which you live? I live in the central Florida area and would like to talk to someone who has a trucker background about doing my taxes. What cha think? Thanks.> Bob BOB, FINDING A CPA IS EASY...

GOOD AFTERNOON TERRY & RENE LAST TIME WE SAW EACH OTHER WAS AT THE EXPO, JUST HAD A BRIEF CONVERSATION, WHILE YOU WERE HELPING LAWRENCE AND DEBBIE OUT. YOUR QUESTIONS OR STATEMENTS AS FOLLOWS ARE Frank: <I seems to me that many small truck expediters want to incorporate for the primary reason...