Morning All, Its that time of year again, and you should start getting your tax information together for you accountant/tax preparer. It does not normally work out this way due to the holiday's and all, but instead of going into the truck stop and playing vending machine games, or computer games! it time to work on your expense receipts if you do the calculations yourself. Try and make it easy for your preparer to do you return. because you are being charged by the hour to figure them out by them. and some charge as much as a $100. per hour. I can only suggest what to do, but if you do not look over the return when they are complete you might be missing deductions that are legal to you. Many CPA's who say they know trucking and really do not, Laundry, and laundry supplies, Showers you actually pay for, But, your satellite TV, Sirus, and other types of entertainment are allowable, but it is totaled and subject to 50% as a deduction on the return in Part V of Sch. C, other expenses, not part of the Per Diem deduction. which is a reimbursement for FOOD ONLY, There are other requirement for All Business owners YOU MUST HAVE A SEPARATE CHECKING ACCOUNT FOR YOUR BUSINESS, AND YOU CANNOT COMBINE BOTH PERSONAL AND BUSIINESS IN THE SAME ACCOUNT. Normaly if you are audited the IRS frowns on this practice and you might be in trouble due to it. If you have any question please do not hesitate to ask, or call us at the # below. [h=1]Franklin Katz, ATP,PA, PB[/h][h=1]Frank's Tax & Business Service[/h][h=1]315 E. King St.[/h][h=1]Kings Mountain, NC 28086[/h][h=1]Local # 704-739-4039 Toll Free# 877-857-1040[/h][h=1]E-Mail: [email protected])[/h][h=1]Web: Filing Services[/h][h=1] [/h][h=1]IRS Circular 230 Notice: Unless expressly stated otherwise inthis
transmission, any tax advice contained herein, forwarded with or attached to
this message was not and is not intended to be used, nor may it be relied
upon or used, by any taxpayer for the purpose of (1) the avoidance of any
tax-related penalties under the Internal Revenue Code or applicable state or
local tax law provisions, or (2) promoting, marketing or recommending to
another party any tax transaction or tax-related matters that may be
addressed herein.
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transmission, any tax advice contained herein, forwarded with or attached to
this message was not and is not intended to be used, nor may it be relied
upon or used, by any taxpayer for the purpose of (1) the avoidance of any
tax-related penalties under the Internal Revenue Code or applicable state or
local tax law provisions, or (2) promoting, marketing or recommending to
another party any tax transaction or tax-related matters that may be
addressed herein.
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