Should I file my taxes if I only made 10K?
- Thread starter henboy1
- Start date
late for dinner
Expert Expediter
Al Capone didn't file taxes and see where it got him?
late for dinner
Expert Expediter
Hay Moot, I don't think Capone got syphilis in the federal pen, did he?
raceman
Veteran Expediter
You need to file. You should always file.
I would also recommend if that is what you made in a full year, I would find someone else to run for or get in another business. Maybe I misunderstood what your message said but if I read it right and you typed it right then I say move on.
I spend that on fuel. Sorry just letting you know you can do very much better
Raceman
OTR O/O
I would also recommend if that is what you made in a full year, I would find someone else to run for or get in another business. Maybe I misunderstood what your message said but if I read it right and you typed it right then I say move on.
I spend that on fuel. Sorry just letting you know you can do very much better
Raceman
OTR O/O
Everyone should file regardless of amount made. You can use 1040EZ if it's a low amount but even if you only made one dollar you need to file a return so they have it on record. I'd even file the EZ form with zero dollars if for some strange reason there was a year with zero income just so they know you aren't ignoring it.
Leo Bricker, owner trucks 3034, 4958
OOIDA 677319
73's K5LDB
Highway Watch Participant, Truckerbuddy
EO Forum Moderator 1+ Years of Service
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Support the entire Constitution, not just the parts you like.
Leo Bricker, owner trucks 3034, 4958
OOIDA 677319
73's K5LDB
Highway Watch Participant, Truckerbuddy
EO Forum Moderator 1+ Years of Service
-----
Support the entire Constitution, not just the parts you like.
Hi
Definatly file.You will need proof of self employment if you decide to change companies.Lets say you quit company A next year and then 5 years later they are out of business you will have a hard time proving your work history.Every carrier needs to verify 10 years of driving history if you have driven that long.Any time from the date you started driving professionally untill the present has to be accounted for.
Also you will need these records if you plan on getting a loan anytime in the next 5 years.Don't worry about not showing much of a profit the first year as most businesses don't.Banks understand this and will pay more attention to whether your income is showing steady improvement.
You will need these records to get any goverment assistance such as food stamps or the medical card.A must have if you get hurt while being self employed or one of your kids gets sick and needs special care.BWC covers medical bills for kids under age 18 with a much higher income rate than medicare but they will not even talk to you if you don't have 3 years of tax returns.
Definatly file.You will need proof of self employment if you decide to change companies.Lets say you quit company A next year and then 5 years later they are out of business you will have a hard time proving your work history.Every carrier needs to verify 10 years of driving history if you have driven that long.Any time from the date you started driving professionally untill the present has to be accounted for.
Also you will need these records if you plan on getting a loan anytime in the next 5 years.Don't worry about not showing much of a profit the first year as most businesses don't.Banks understand this and will pay more attention to whether your income is showing steady improvement.
You will need these records to get any goverment assistance such as food stamps or the medical card.A must have if you get hurt while being self employed or one of your kids gets sick and needs special care.BWC covers medical bills for kids under age 18 with a much higher income rate than medicare but they will not even talk to you if you don't have 3 years of tax returns.