Jan. 6, 2025

Trucker Bookkeeping 101

Trucker Bookkeeping 101

Trucker Bookkeeping 101 Keeping Bookkeeping Simple and smart. Trucker Per diems, trucking expenses, truck lease operating or capital lease. How to lower taxes with bookkeeping. Find every trucker bookkeeping deduction. OOIDA Truck to Success Seminar,...

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Trucker Bookkeeping 101 Keeping Bookkeeping Simple and smart. Trucker Per diems, trucking expenses, truck lease operating or capital lease. How to lower taxes with bookkeeping. Find every trucker bookkeeping deduction. OOIDA Truck to Success Seminar, OOIDA Foundation, OOIDA cost per mile worksheet. Louisiana Moonshine festival, Moonshine and TruckerTaxTools.com help make taxes eaiser. #truckerslife #owneroperator #trucking #TruckerTaxTools

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WEBVTT

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The topics and opinions express in the following show are

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solely those of the hosts and their guests and not

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those of W FOURCY Radio. It's employees are affiliates. We

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make no recommendations or endorsements for radio show programs, services,

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or products mentioned on air or on our web. No

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liability explicit or implies shall be extended to W FOURCY

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Radio or it's employees are affiliates. Any questions or comments

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should be directed to those show hosts. Thank you for

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choosing W FOURCY Radio.

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Barry G.

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Foul Ea brings you tax talk for you right here

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on W four CY Radio and Talk Forward TV. As

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an enrolled agent and a national leader in tax resolution

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as well as trucker bookkeeping and tax planning. With over

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thirty years of experience, Barry will break down taxes, bookkeeping,

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tax planning, and tax relief for individuals and businesses just

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like you. So let's have some tax talk for you

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with your hosts.

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Barry G.

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Foul Hey, welcome, Let's get a rolling here. You know,

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we get to meet with truckers and work with a

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lot of truckers and setting up their business, their bookkeeping,

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preparing to keep their taxes as low as possible every year,

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and we do this, you know, not just at some

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of the major events that happened for truckers across the country,

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but we do this at a special event every year

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with Owner Operator Independent Drivers Association's Foundation. It puts on

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Truck to Success Seminar and this is mainly you know,

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people getting out from being a W two driver to

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come in an owner operator or even owner operators that

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want to learn how to do business better. And the foundation,

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what's what's on this event? Generally every October. They haven't

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set the dates yet and it's up there in Blue Springs, Missouri,

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just down the street from Old I DAS headquarters. So

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if you're serious about your desire to become an owner operator,

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then you know o IDAs expert staff as well as

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I and a few other partners come out there to

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guide you and talk about business, you know, doing everything

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from setting up a business plan, what equipment you may

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be needing new versus used equipment, financing, insurance, the big

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decision to be an owner operator under your own authority

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or even at least onto a carrier, new entrance safety

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audit and compliance reviews, drug and alcohol permits, and licensings

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and factoring. I don't always don't recommend factoring, it is

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an expense out there, and finish with current issues that

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affect the industry and what they can do to respond

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to those things. I get to come up and talk

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about business structures, least purchasing, hound depreciation and leasing, affect

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your taxes, and of course you know, bookkeeping and taxes.

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So you know, it's really good to get to an

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event like this and be able to socialize with people

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in the industry, other truckers and even myself. I enjoy

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coming up there and being at that seminar because it

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gives me a chance to sit down and talk to

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people that are behind the wheel driving the trucks and

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get a feel for, you know, what they're doing, what

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they're planning on doing, and it's a great back and

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forth that's out there. So it's really good. You know,

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some of the other events that you know, we go

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to Ben American Truck and Show Walcott, and I think

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we've been to the Texas Truck and Show, and so

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we get a chance to get out with truckers and

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we talk about bookkeeping in taxes and how to save

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you from the irs So one of the fun things

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that I've gotten to do is not just come out

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to these events and talk or speak. Come to some

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of the events with oh I DA and speak there

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about trucker taxes and bookkeeping, but I also get to

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write for Landline magazine, and you can go there or

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to your Landline magazine when the magazine comes out and

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see our articles on trucking and taxes. Hey, we have

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great articles. It's there. We're working on our next article

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that we've got to get in here soon and that'll

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be out in the February edition. Not sure what we're

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writing on yet, but we're still working on that. So

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if you have ideas, hey, Texas and let us know

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and we'll try to encompass that into some of the

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articles that we do write this year. So what we

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talk about when we talk about bookkeeping, and when we

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talk about bookkeeping, we're looking to do bookkeeping to help

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you with taxes and reduce the burden of the taxes

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that you pay. You already pay too much in tax

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so we find ways to reduce those taxes, whether we're

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using an entity to do it or whether we're using bookkeeping.

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And even if you're using an entity. We use bookkeeping

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also to help you reduce those taxes and find more

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write offs, more deductions that will lower the taxes that

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you're going to pay. So when we're at truck to Success,

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and again you can find Truck to Success on oh

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Ida's website. I just do a search for it on

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their website and they'll keep you up to date on

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what the dates are going to be. I'm sure it's

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going to be late October. But we talk about the

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most expensive mistakes that costs you, the truck driver and

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even any small business owner thousands of dollars in taxes,

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and that big mistake is bad or no bookkeeping. Now

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you know here truck or tax tools dot Com can

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set you up with good bookkeeping and we try to

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keep it as simple and so one of the approaches

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that we use is the old kiss some way of

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doing things. Keep it simple and smart, all right, And

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that's what you want to do. You want to keep

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it simple and smart. So simple a lot of times

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it's just using a good bookkeeping service to help keep

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track of what you've got going on and take the

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burden off you. Now, if you're in the trucking industry,

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you know we recommend you make sure you find somebody

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that's in trucking and those trucking to find you the

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most brideoffs and deductions that you can find. If you're

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small business in any other industry, again, sometimes it's finding

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that person that has that niche in bookkeeping that will

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know your business inside and out. And having that kind

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of person helps provide you with better bookkeeping, better knowledge,

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and especially if they have been the industry, been in

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the industry a long time, because the knowledge that they

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have is going to be hopefully vast, and hopefully they

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continue taking continuing education to continue to expand their knowledge

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of not just the industry that they're working in, but

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to be able to help you in your industry as well.

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And that's where Trucker Tax Tools comes in. We're here

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to help you in your industry and keep it simple

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and smart. See, if you're smart, you're finding ways to

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keep it simple, you're finding ways to do this easy,

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and you're making sure that you're not spending valuable time

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as an owner operator sitting at home trying to figure

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out book am I getting all the right deductions that

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you could be spending time with your family so that

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that's where we come in. But hey, you want to

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do it yourself. We understand that we have a lot

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of people that come to us and want to do

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it themselves. Now make sure you keeping track of everything

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and don't be missing deductible business expenses. Don't come to

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us with incomplete bookkeeping, because I mean, you're gonna have

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to go back and do it again and figure out, hey,

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what did I miss read your settlement statements? You as

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an owner operator, whether you're leased on or you know

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you're driving for somebody else, if they're providing you settlement statements,

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make sure you're reading those settlement statements. If you're invoicing

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and carrying all the expenses yourself and paying them, you're

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not going to have that settlement statement. But you want

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to make sure that you're looking and getting paid what

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you're supposed to be getting paid. Using a broker, you're

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finding loads yourself. Make sure you're getting paid full value

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that's out there. We talk about bookkeeping done by people

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that don't know anything about this industry. Not knowing anything

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about this industry doesn't get you all the deductions that

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you should be getting, or finding people that are going

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to do bookkeeping that only care about themselves, what's their

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bottom line, not your bottom line. We're going to help

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you find somebody that's going to help you and have

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an interest in your business. See, that's why part of

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what we do is free consultations, free consulting. So if

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you're a bookkeeping client and call us anytime you want,

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and we're going to talk about what's going on for

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your bookkeeping and how you can help yourself keeping it simple,

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keeping it smart. And that's what we want to do

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for you and help you and guide you down the road.

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What's all the right tools to make it simple and smart? Hey,

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So if you want a free consultation, pick up that

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phone and call Trucker Tax Tools at eight seven seven

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nine ninety six two four seven seven again eight seven

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seven nine ninety six two four seven seven, or go

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to truck or tax tools dot com and let us

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talk to you about what's going on in your business

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and how you can keep it simple and smart and

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use a service to get you more freedom with your

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family and doing less work on your own. Hey. When

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we come back right after this, we're going to talk

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more about how to keep it simple and doing it yourself.

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We'll be right back after this.

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We have only scratched the surface of today's show. Please

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stand by as Parry G. Fowler will be right back

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with tax talk for you.

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If you owe the.

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IRS or are going through an IRS audit, don't go

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at it alone. Call Taxation Solutions Tax Relief at eight

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eight eight nine three zero one zero one six. We

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are your solution for IRS TETs, audits, back taxes, garnishments,

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leans and levees. Whether you're an individual or business, you

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need a solution and a strong, aggressive tax resolution. Don't

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let the IRS walk all over you. Stop the IRS

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now call eight eight eight nine three zero one zero

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one six or go to Taxationsolutions dot net now for

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a free no obligation consultation. Get back to tax Stock

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for you with more tax tock once again, here's your host,

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Barry G.

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Baller.

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Hey, welcome back. You know we're talking about keeping it simple,

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keeping it smart, and truck and book keeping. Keeping it simple,

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Keeping it smart is what you need to do and

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makes your lives easier when it comes to tax time.

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So how did you keep it simple? Save every receipt,

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open a separate checking account just for the business. Whether

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you're doing it as a DBA. You know, running it

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through your own personal checking account makes it sloppy, makes

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it messy. You don't know what's going to be personal,

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what's going to be a business. If you have a

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corporation LLC, your bank's going to make you open up

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a separate checking account for that LLC or in, but

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run only business expenses through that account. Keep business and

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personal separate. Again, keep business and personal separate. Don't run

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it through the same account. You know, I have a

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lot of lawyer friends. Now I'm not a lawyer, never

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wanted to be a lawyer. Don't charge legal fees. We'll

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tell you that. If you're running any corporation and you're

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looking for protection of that corporate veil, as they say,

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commingling or is it business and personal takes that corporate

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veil and it's shot, okay, and you're now still one

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and the same. There is no protections. So talk to

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your attorney when you're setting up your business about that

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corporate veil and protections and what it's going to do

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for you. A lot of times we use business entities

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to save taxes, not necessarily we're ever looking at the

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liability and protection. That's a lawyer's job. We're looking at

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how can we reduce taxes through the use of entities.

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That's a whole long topic. Another day, we're talking about bookkeeping.

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Keeping it simple. You want to do it yourself. Keep

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it simple, keep it smart. Use a separate credit card

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for business expenses. Try to get one of the business name.

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If you can't get one in the LLC or corporation's name,

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then you need to set aside a single card to

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use in your business. It's only business expenses, and that's

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what we recommend you do. Save a copy of your

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log books. Now that used to be easy because they

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were paper logs, and now you've got to deal with

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the eleds. Talk to your ELD provider and download that

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log at least once every six months. They do overwrite,

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and I don't believe every ELD company holds your logs

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for longer than a six months, but check with them

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and make sure you get that log down loaded periodically

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so you don't lose your records and your history. Get

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a notebook to carry with you and put it in

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a receipt envelope. You know, if you have a receipt

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00:16:11.879 --> 00:16:15.240
envelope there, keep your notebook, keep notes. You know what

235
00:16:15.360 --> 00:16:18.240
was this for? And make sure you've got it. Loans,

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keep your loan documents, read it, and you know the

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funny story is is, hey, you know we talk to

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people that truck to success about reading your paperwork. We

239
00:16:32.840 --> 00:16:40.080
even show paperwork where truckers haven't read a single word

240
00:16:40.679 --> 00:16:45.399
on loan agreement or lease agreement, but they've signed it

241
00:16:45.480 --> 00:16:51.919
and it's mostly blank. Say, how can it be? People

242
00:16:51.960 --> 00:16:55.120
are in a hurry these days. They just go through

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and do it. You have your phone, so many times

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00:16:58.399 --> 00:17:01.039
people are going through and send you stuff to sign

245
00:17:01.080 --> 00:17:04.720
and you don't read anything. DocuSign is really nice, But

246
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do you read all the words that are there in

247
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docusige before you sign the document? Most likely not. You

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00:17:14.559 --> 00:17:18.160
skim through it. Don't skim through these things. These are important.

249
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These things cost you money. So read your documents. So

250
00:17:22.960 --> 00:17:26.960
keep your loan paperwork, the equipment purchases. Read it, see

251
00:17:26.960 --> 00:17:29.400
what's in it. Don't just look at what the payment is.

252
00:17:29.400 --> 00:17:31.279
Look how long the payment is. What interest would they

253
00:17:31.359 --> 00:17:33.759
charge to you if it's a least? How long is

254
00:17:33.759 --> 00:17:36.119
the least? What do you have as a buyout at

255
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the end. Read your documents, save those agreements and save

256
00:17:43.920 --> 00:17:47.720
all your records, and so you're trying to find every

257
00:17:47.799 --> 00:17:55.759
way to keep things simple, keep it smart. So here's

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00:17:56.200 --> 00:18:01.839
a good example of a basic record keeping procedure for

259
00:18:02.079 --> 00:18:06.960
you as an owner operator. Buy that expanding folder, you know,

260
00:18:07.000 --> 00:18:09.680
the one that expands it has the different slots in it.

261
00:18:10.920 --> 00:18:13.400
You can get it at any office supply store. You

262
00:18:13.400 --> 00:18:15.640
could probably even have it ordered at Amazon and have

263
00:18:15.680 --> 00:18:19.720
it delivered to you. Along with a stapler, a desktop

264
00:18:19.839 --> 00:18:24.359
calculator with the register tape is preferable. Fill out the

265
00:18:24.359 --> 00:18:30.359
pocket levels with various categories of expenses income expenses such

266
00:18:30.359 --> 00:18:38.920
as maintenance, fuel meals, equipment settlements, office supplies, and general

267
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truck supplies. When you get a receipt or settlement statement,

268
00:18:43.039 --> 00:18:47.640
drop it in the corresponding folder. It keeps it there,

269
00:18:47.640 --> 00:18:54.839
It keeps it simple. You then have those receipts, so

270
00:18:55.119 --> 00:18:59.440
keep it together. All the receipts in each pocket as

271
00:18:59.480 --> 00:19:03.160
you've put them in there. Stay with calculators, so when

272
00:19:03.200 --> 00:19:05.160
you get done at the end of the month, put

273
00:19:05.160 --> 00:19:10.039
all those up and if you've got that registracyat stable

274
00:19:10.200 --> 00:19:12.279
to it, or if you use a spreadsheet, you can

275
00:19:12.279 --> 00:19:15.559
put in the line items and put everything in. Just

276
00:19:15.640 --> 00:19:22.960
make sure you've got everything corresponding into those categories. Put

277
00:19:22.960 --> 00:19:26.319
them back into the same slot. And since they're stable together,

278
00:19:26.839 --> 00:19:28.960
they're not going to get mixed up with new receipts

279
00:19:28.960 --> 00:19:31.960
that are coming in. So you've got month of January.

280
00:19:31.960 --> 00:19:37.279
You're starting right now. You start putting those fuel receipts

281
00:19:37.359 --> 00:19:41.200
into the fuel category, you start putting those supply receipts

282
00:19:41.240 --> 00:19:44.799
into that supply category. You put the meal receipts into

283
00:19:44.799 --> 00:19:52.920
the meal category, and you make it simple. Now you

284
00:19:52.920 --> 00:19:56.720
can supplement the system. And I love doing this by

285
00:19:56.759 --> 00:20:01.279
noting your odomin reading last day of every month. So

286
00:20:01.359 --> 00:20:05.160
January one, you should have noted December thirty first, dominant reading.

287
00:20:06.119 --> 00:20:09.680
And therefore you've got the beginning of dominant reading in

288
00:20:09.720 --> 00:20:14.559
your truck for the first of the month. And at

289
00:20:14.559 --> 00:20:17.079
the end of the month, January thirty first, you're going

290
00:20:17.119 --> 00:20:23.160
to write down you're a dominant reading. Then now you

291
00:20:23.279 --> 00:20:26.240
now have the ability to calculate how many miles you

292
00:20:26.319 --> 00:20:32.680
drove for the month of January. Now, once you have

293
00:20:32.799 --> 00:20:38.000
all your expenses in here, you now have all the

294
00:20:38.039 --> 00:20:42.160
costs per mile, and you can do a very simple

295
00:20:42.759 --> 00:20:47.119
calculation of what is your true cost per mile per

296
00:20:47.119 --> 00:20:51.720
month Now, this doesn't give you your fixed costs and

297
00:20:51.759 --> 00:20:55.920
your operating costs. This gives you what your total cost

298
00:20:56.000 --> 00:21:03.000
per mile is on the road driving your truck. Why

299
00:21:03.000 --> 00:21:05.799
do you want to do that? It's a good thing

300
00:21:05.839 --> 00:21:09.599
to know that, Hey, this is what is costing me

301
00:21:09.640 --> 00:21:14.920
to drive my truck per mile every month. So before

302
00:21:14.960 --> 00:21:19.640
you take a load, you know how many miles you're

303
00:21:19.640 --> 00:21:22.119
going to have to drive. You're going to know what

304
00:21:22.160 --> 00:21:27.759
your cost was previous month, and you'll be able to say,

305
00:21:27.759 --> 00:21:30.200
this is approximately what my cost is going to be

306
00:21:30.799 --> 00:21:32.480
this month. Am I going to make money?

307
00:21:33.559 --> 00:21:33.759
Now?

308
00:21:35.599 --> 00:21:43.440
Variable changes in fuel costs, meal costs, supplies, maintenance and repairs,

309
00:21:43.880 --> 00:21:47.400
you know those are very month to month, year and

310
00:21:47.440 --> 00:21:52.359
the year. But it gives you a good idea of

311
00:21:52.359 --> 00:21:53.799
what your costs are going to be. Now, if you

312
00:21:53.880 --> 00:21:57.359
see fuel costs going up, maybe you're getting a supplement

313
00:21:57.720 --> 00:22:00.000
for fuel. And if you're getting that supplement for fuel,

314
00:22:00.039 --> 00:22:02.720
well maybe that helps offset some of those costs that

315
00:22:02.799 --> 00:22:09.119
are over there. So reach your contracts. What does your

316
00:22:09.160 --> 00:22:12.480
contract say if you're least on with somebody, what does

317
00:22:12.519 --> 00:22:17.319
that lease say with the company that you're driving for?

318
00:22:18.839 --> 00:22:25.279
Are you getting that supplemental fuel? The only way to

319
00:22:25.319 --> 00:22:29.799
know is to read so you can get it a

320
00:22:29.839 --> 00:22:36.079
little more sophisticated. In your cost per mile, oh Ida

321
00:22:36.200 --> 00:22:40.319
has a wonderful work sat that calculates cost per mile

322
00:22:41.440 --> 00:22:43.119
and you can go to their website and do a

323
00:22:43.160 --> 00:22:47.440
search for cost per mile. We talk about this at

324
00:22:47.519 --> 00:22:52.319
Truck to Success because you do have a fixed cost

325
00:22:53.200 --> 00:22:55.200
of such things as in terms you're going to pay

326
00:22:55.200 --> 00:22:58.160
whether you're on the road or not, your truck or

327
00:22:58.279 --> 00:23:03.039
least payment your trailer or payment. Those are going to

328
00:23:03.119 --> 00:23:07.119
be some fixed costs you're going to have whether you're

329
00:23:07.240 --> 00:23:13.720
driving this truck on the road or it's sitting. They

330
00:23:13.720 --> 00:23:15.640
don't make money when it is. But you also don't

331
00:23:15.680 --> 00:23:21.759
make money if you don't price your loads properly, and

332
00:23:21.799 --> 00:23:25.319
if you just take loads to take loads and you're

333
00:23:25.359 --> 00:23:31.559
losing money, you're just not helping the industry increase prices.

334
00:23:32.279 --> 00:23:38.119
You're actually losing money out there driving your truck on

335
00:23:38.240 --> 00:23:41.960
the road. And when we come back, we're going to

336
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talk about a lot of the most overlook truck driver

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deductions there are, and we're going to be right back

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after this.

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We have only scratched the surface of today's show.

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00:23:56.079 --> 00:23:59.319
Please stand by as Barry Chief Fouler will be right

341
00:23:59.440 --> 00:24:05.519
back with tax talk for you. As an owner operator,

342
00:24:05.640 --> 00:24:08.319
you already spend too much time away from your family.

343
00:24:09.039 --> 00:24:12.400
Trucker Tax Tools handles all your bookkeeping and taxes.

344
00:24:12.440 --> 00:24:14.319
No matter what level trucker you are.

345
00:24:14.599 --> 00:24:17.759
Life on the road can be taxing, but that doesn't

346
00:24:17.799 --> 00:24:18.759
mean that your.

347
00:24:18.559 --> 00:24:21.200
Wallet or time with your family should suffer.

348
00:24:21.720 --> 00:24:24.880
Trucker Tax Tools makes your life run smoothly.

349
00:24:25.400 --> 00:24:27.319
Go to Trucker tax Tools dot.

350
00:24:27.079 --> 00:24:29.559
Com for a free guide that will give you the

351
00:24:29.720 --> 00:24:31.519
tools to never.

352
00:24:31.400 --> 00:24:33.039
Worry about your taxes again.

353
00:24:33.400 --> 00:24:37.480
Call Trucker Tax Tools eight seven seven nine sixty six

354
00:24:37.839 --> 00:24:41.799
two four seven seven, or go to Trucker tax Tools

355
00:24:41.799 --> 00:24:45.279
dot com now and let the experts keep you trucking.

356
00:24:48.400 --> 00:24:51.200
Let's get back to tax stock for you with more

357
00:24:51.400 --> 00:24:53.200
taxtock once again.

358
00:24:53.680 --> 00:24:56.200
Here's your host, Barry G. Fowler.

359
00:24:59.119 --> 00:25:01.599
Hey, welcome back. Go. You know, we're starting to get

360
00:25:01.599 --> 00:25:03.640
some questions in here. We're going to be talking about

361
00:25:03.640 --> 00:25:09.160
the most overlooked truck driver deductions that are out there,

362
00:25:09.200 --> 00:25:10.799
and we get a good laughs or some of the

363
00:25:10.799 --> 00:25:13.640
stuff because some of us are really basic. Some of

364
00:25:13.680 --> 00:25:17.480
it's things that hey, you just buy and maybe it's

365
00:25:17.519 --> 00:25:20.079
not a lot of money, but you got to remember

366
00:25:20.119 --> 00:25:25.599
every little deduction accounts. If it's one hundred dollars out

367
00:25:25.640 --> 00:25:29.279
of your pocket and you're self employed doing schedule. See,

368
00:25:30.680 --> 00:25:33.119
you know, if you don't make take that deduction, that's

369
00:25:33.119 --> 00:25:36.519
one hundred dollars, it just costs you a minimum of

370
00:25:36.599 --> 00:25:40.400
fifteen which is the self employment tax on it, and

371
00:25:40.440 --> 00:25:43.400
then your federal tax rate. Let's say it's you know,

372
00:25:43.440 --> 00:25:48.319
the twenty percent, so there's another twenty dollars. And let's

373
00:25:48.319 --> 00:25:54.119
say you now have state taxes as well, at you know,

374
00:25:54.200 --> 00:25:57.559
let's say five percent, there's another five dollars roughly. So

375
00:25:57.640 --> 00:26:02.160
I mean, not taking that deduction, you're out the hundred.

376
00:26:02.839 --> 00:26:07.720
But then now you know, you're out another forty, so

377
00:26:07.880 --> 00:26:10.640
that not taking the deduction costs you an extra forty dollars.

378
00:26:10.680 --> 00:26:14.160
So hey, take that deduction where you can get it,

379
00:26:14.799 --> 00:26:20.640
and every dollar helps save you money on taxes. So

380
00:26:21.680 --> 00:26:24.680
you know, we've seen people overlook association dues. If you're

381
00:26:24.720 --> 00:26:28.480
a member of oh Ida Foundation or American Trucking Association,

382
00:26:29.440 --> 00:26:34.480
you know, deducting association dues that is deductible your bank fees.

383
00:26:34.880 --> 00:26:38.559
Bank charges you money. Now, don't be like some people. Hey,

384
00:26:39.480 --> 00:26:41.240
you know you don't keep enough money in your account

385
00:26:41.240 --> 00:26:43.920
and you're getting n s F fees, you know, insufficient

386
00:26:43.920 --> 00:26:50.039
fund fees charges all the time. That becomes really really expensive.

387
00:26:51.200 --> 00:26:55.359
And you know, we've seen people run, you know, thousand

388
00:26:55.440 --> 00:26:59.319
dollars in NSF fees in a year and this money

389
00:26:59.319 --> 00:27:02.319
out of your pocket. They save you money, but it's

390
00:27:02.359 --> 00:27:04.079
not a real smart thing to do. It's not a

391
00:27:04.079 --> 00:27:06.559
smart way to run your business. So make sure you've

392
00:27:06.559 --> 00:27:10.160
got money in your account, and you know, if it

393
00:27:10.240 --> 00:27:13.759
requires a minimum balance, try to stay above that minimum

394
00:27:13.799 --> 00:27:16.039
balance so you're not having to pay the bank fees

395
00:27:16.160 --> 00:27:20.119
every single month. That's out there your self. A cell

396
00:27:20.119 --> 00:27:25.599
phone Internet plans, those are deductible. Now cell phones if

397
00:27:25.640 --> 00:27:29.319
you're using them for personal and you have one cell phone,

398
00:27:29.759 --> 00:27:31.880
of course sometimes it's going to be used for personal.

399
00:27:32.000 --> 00:27:34.480
You're going to have to designate how much of the

400
00:27:34.519 --> 00:27:38.880
cell phone is used for personal versus business eighty twenty

401
00:27:39.000 --> 00:27:42.119
ninety tens, fifty to fifty. You know, how much time

402
00:27:42.519 --> 00:27:45.880
do you spend making phone calls on this? We understand

403
00:27:45.920 --> 00:27:48.920
cell phones are used a lot of times they're used

404
00:27:48.920 --> 00:27:51.119
for the GPS, or a lot of times they're used

405
00:27:51.160 --> 00:27:54.960
for their internet. A lot of times it's not just

406
00:27:55.039 --> 00:27:56.920
the phone calls, but you're on the road most of

407
00:27:56.960 --> 00:27:59.680
the time, so you know you're going to have to

408
00:27:59.680 --> 00:28:02.640
design a business or personal and be able to support

409
00:28:02.720 --> 00:28:06.039
that as well. If the irs was to come and

410
00:28:06.160 --> 00:28:10.039
ask you bought a coffee pot for the truck, Hey,

411
00:28:10.079 --> 00:28:15.119
that's deductible. Your certifications, you know, whether it's has that,

412
00:28:16.079 --> 00:28:20.480
whatever certifications you're running, those sort of getting those certifications

413
00:28:20.559 --> 00:28:27.079
or renewing those certifications are deductible. Your calculator, cleaning supplies

414
00:28:27.119 --> 00:28:33.359
to clean the truck inside, and DOUN chains envelopes, so

415
00:28:33.480 --> 00:28:37.519
that spanding folder and the envelopes you may be using

416
00:28:37.599 --> 00:28:42.640
inside that are all deductible. You're stapler. Our tax and

417
00:28:42.640 --> 00:28:48.960
bookkeeping services are deductible as well, so it does save

418
00:28:49.119 --> 00:28:54.559
you money any license fees that you're having to pay.

419
00:28:55.400 --> 00:29:01.000
Fire extinguisher, Hey, it's cold right now, ice scrapers, excise taxes.

420
00:29:01.960 --> 00:29:06.839
Road at LISS, Yes, I know everybody should be required

421
00:29:06.839 --> 00:29:10.559
to carry a road out LISS. GPS doesn't work every

422
00:29:10.599 --> 00:29:13.240
single place. Sometimes you get one to take a detour

423
00:29:13.680 --> 00:29:16.279
and you need to look at a map. You know.

424
00:29:16.720 --> 00:29:18.759
I taught my kids a long time ago how to

425
00:29:18.799 --> 00:29:24.720
read a map, and they, oh, we got GPS. Well,

426
00:29:24.839 --> 00:29:30.519
when your daughter drives from you know, Houston, the Lubbock

427
00:29:30.640 --> 00:29:33.640
or Amarillo or somewhere up in the Panhandle, and all

428
00:29:33.640 --> 00:29:35.680
of a sudden GPS doesn't work and she doesn't know

429
00:29:35.680 --> 00:29:37.160
where she's at, She's got to be able to read

430
00:29:37.160 --> 00:29:40.240
a map. You're out there driving a truck, all of

431
00:29:40.240 --> 00:29:43.319
a sudden your GPS isn't working and you need to

432
00:29:43.359 --> 00:29:48.480
find the way around. Hey road, Alice, it's axaductible. Of course,

433
00:29:48.480 --> 00:29:52.720
your fuel in your truck, operating expenses are all deductible.

434
00:29:53.880 --> 00:30:04.519
Paper pens envelope insurance, so workers liability, those are all deductible.

435
00:30:04.559 --> 00:30:11.680
Life insurance is not tax deductible. Your health insurance, depending

436
00:30:11.680 --> 00:30:14.920
on how it's structured, is able to be used as

437
00:30:15.039 --> 00:30:21.079
self ployed health insurance. Now it's not a deductible right

438
00:30:21.160 --> 00:30:24.599
off on a schedule CE, so it's not going to

439
00:30:24.680 --> 00:30:29.359
impact your self employment taxes, but it will help reduce

440
00:30:29.400 --> 00:30:34.720
your federal income taxes there. So make sure you're keeping

441
00:30:34.759 --> 00:30:39.759
track of that interest expense. So, depending on the type

442
00:30:39.759 --> 00:30:42.799
of loan you have, you're going to have interest expense.

443
00:30:42.880 --> 00:30:46.480
Sometimes it's really high life cleos and interest rates. Read

444
00:30:46.559 --> 00:30:51.119
your contracts. If you're on a lease. Well, there's two

445
00:30:51.160 --> 00:30:54.240
different types of leases. There's an operating lease and a

446
00:30:54.319 --> 00:30:57.720
capital lease. You know, operating leases, you're just going to

447
00:30:57.759 --> 00:31:02.200
deduct the lease expense. There s'sould be no interest capital leise.

448
00:31:02.599 --> 00:31:05.839
We've got to calculate how much interest expense is in

449
00:31:05.880 --> 00:31:10.680
that lease because now you're depreciating the equipment, and that

450
00:31:10.839 --> 00:31:17.839
lease has two components, paying for principle and interest. Labor lumpers.

451
00:31:20.200 --> 00:31:23.559
Anybody you're using to maybe drive a truck for you,

452
00:31:24.319 --> 00:31:27.559
if you're operating a fleet or a small fleet, you'll

453
00:31:27.640 --> 00:31:31.920
have owner operators out there possibly driving for you, or

454
00:31:31.960 --> 00:31:37.359
they may be employees and you would have to do payroll,

455
00:31:38.200 --> 00:31:43.960
license fees, Maintenance and repairs, maintainer repairs. I mean, that's

456
00:31:44.000 --> 00:31:47.000
another whole big topic because you've got to look at

457
00:31:47.039 --> 00:31:50.759
how maintenance and repairs are general repairs that don't increase

458
00:31:50.799 --> 00:31:55.200
the use of life for the truck and just maintain

459
00:31:55.279 --> 00:32:01.240
it or write off. But major repairs transmission engine are

460
00:32:01.799 --> 00:32:05.680
now capital repairs and have to be appreciated. We'll go

461
00:32:05.720 --> 00:32:08.920
over that in some other segment in the future. So

462
00:32:09.079 --> 00:32:13.160
make sure you subscribe to tax talkforu dot com and

463
00:32:13.279 --> 00:32:17.160
go to truck or tax tools on Facebook and link

464
00:32:17.200 --> 00:32:19.039
and follow us over there, so we'll be able to

465
00:32:19.119 --> 00:32:21.039
keep you up to date new things that we've got

466
00:32:21.039 --> 00:32:25.039
coming on at tax Talk for you. But it's really

467
00:32:25.039 --> 00:32:29.319
simple to subscribe and then you'll always stay abreast of

468
00:32:29.359 --> 00:32:32.039
everything we've got going on here at tax Talk for you.

469
00:32:34.680 --> 00:32:39.319
DOT medical exams those are deductible. Your other medical expenses

470
00:32:40.119 --> 00:32:42.880
are not going to be deductible here on Schedule C

471
00:32:43.880 --> 00:32:45.680
or for your business, you're going to have to do

472
00:32:45.680 --> 00:32:53.359
it on Schedule A if you're itemizing safety gear, satellite radio,

473
00:32:53.839 --> 00:33:02.240
TV subscriptions, including subscriptions like YouTube TV, and other channels

474
00:33:02.240 --> 00:33:05.240
that you may be subscribing to while you're on the road,

475
00:33:06.880 --> 00:33:12.200
like your satellite radio and stuff, tolls arking, those are

476
00:33:12.240 --> 00:33:23.079
all deductible as well tools, travel expenses, lodging, uniforms, education, postage,

477
00:33:23.119 --> 00:33:29.880
scale fees. Those are all deductible expenses. You've got to

478
00:33:29.920 --> 00:33:33.799
make sure they're ordinary and necessary expenses for your business.

479
00:33:35.079 --> 00:33:37.400
And we're going to take a quick break here, but

480
00:33:37.480 --> 00:33:40.240
when we come back, we're going to talk about ordinary

481
00:33:40.279 --> 00:33:42.960
and necessary and then we're going to hit the most

482
00:33:42.960 --> 00:33:48.079
important topic for you as an owner operator for DMS,

483
00:33:48.400 --> 00:33:50.200
and we'll be right back after this.

484
00:33:52.559 --> 00:33:56.200
We have only scratched the surface of play's show. Please

485
00:33:56.240 --> 00:33:59.440
stand by as Barry G. Fouer will be right back

486
00:33:59.559 --> 00:34:00.519
with tax.

487
00:34:00.359 --> 00:34:01.079
Talk for you.

488
00:34:03.759 --> 00:34:07.079
As an owner operator. You already spend too much time

489
00:34:07.119 --> 00:34:11.320
away from your family. Stop spending time doing paperwork. Go

490
00:34:11.400 --> 00:34:14.719
to truck or tax tools dot com a solution filled

491
00:34:14.800 --> 00:34:18.719
specifically for truckers. Truck or tax tools dot Com makes

492
00:34:18.760 --> 00:34:25.000
your life run smoothly. Let's get back to tax stock

493
00:34:25.079 --> 00:34:29.559
for you with war tax Stock once again, here's your host,

494
00:34:30.039 --> 00:34:31.079
Barry G. Bower.

495
00:34:34.039 --> 00:34:37.480
Hey, welcome back. You know we talk about all these

496
00:34:37.559 --> 00:34:41.840
expenses that are out there for your business and whether

497
00:34:41.880 --> 00:34:48.119
you're a truck driver owner operator, if you're driving for yourself,

498
00:34:48.719 --> 00:34:51.719
not a W two driver owner operator. You're out there

499
00:34:51.719 --> 00:34:53.800
on the road driving your own truck, your own rig

500
00:34:54.440 --> 00:34:57.400
and whether you're leased one or you're at your own

501
00:34:57.400 --> 00:35:03.480
authority or invoicing, expenses need to be ordinary and necessary

502
00:35:03.559 --> 00:35:05.920
per the i R s. Now, all these expenses we've

503
00:35:05.960 --> 00:35:11.199
went through our ordinary and necessary type expenses for the business. Now,

504
00:35:11.800 --> 00:35:14.760
you can't get carried away when you're writing things off

505
00:35:14.800 --> 00:35:19.559
for supplies that are used at your house for personal things.

506
00:35:20.079 --> 00:35:23.000
But this needs to be stuff that you're using for

507
00:35:23.159 --> 00:35:28.920
the business within the business, and so you're going out

508
00:35:29.039 --> 00:35:34.840
and using this stuff and required for your operations of

509
00:35:34.920 --> 00:35:40.159
your trucking business. And remember it's yours and then keep

510
00:35:40.199 --> 00:35:45.599
it simple and questions. We've been coming in here and

511
00:35:46.920 --> 00:35:55.559
talking two people. We talk about stuff that is important

512
00:35:55.599 --> 00:36:03.159
to you, and the biggest one is for DAMS. You know,

513
00:36:03.400 --> 00:36:10.519
you as a self employed driver, you can generally deduct

514
00:36:10.599 --> 00:36:15.760
expenses incurred to earn your income. And if you're a

515
00:36:15.920 --> 00:36:20.599
W two driver, you're limited to non reimbursed expenses required

516
00:36:20.639 --> 00:36:25.360
by your employer. But Form twenty one on six one

517
00:36:25.400 --> 00:36:30.159
away many years ago, so you're not getting those deductions

518
00:36:30.159 --> 00:36:34.639
if you're a W two driver, But as a self

519
00:36:34.639 --> 00:36:39.239
employed individual or if you're running your own escor Inc

520
00:36:39.519 --> 00:36:44.840
LLC corporation, you are entitled to per diems for overnight

521
00:36:44.960 --> 00:36:49.280
and motel expenses. You know, a good rule to follow

522
00:36:49.360 --> 00:36:57.119
would be and expenses any deductions that would be incurred

523
00:36:57.159 --> 00:36:59.599
that are necessarily required for the performance of your job

524
00:36:59.679 --> 00:37:04.679
or ouper rations of the truck, you should be able

525
00:37:04.679 --> 00:37:11.440
to ride off for dms are the thing that we

526
00:37:11.519 --> 00:37:14.360
see a lot of tax prepayers miss the most. For you,

527
00:37:14.400 --> 00:37:19.400
as an owner operator truck driver. IRS Publication four sixty

528
00:37:19.440 --> 00:37:22.760
three Travel Entertainment Gift Car Expenses allow us for a

529
00:37:22.800 --> 00:37:27.159
standard meal and incidental expense deduction for those in the

530
00:37:27.199 --> 00:37:31.920
transportation industry. So you can either save all your receipts

531
00:37:31.920 --> 00:37:36.519
for meals and incidental expenses and deduct those at tax time,

532
00:37:37.679 --> 00:37:41.000
or you would take the IRS standard meal allowance, which

533
00:37:41.079 --> 00:37:47.320
is now eighty dollars, and that changed effective October first

534
00:37:47.800 --> 00:37:54.800
of twenty twenty four. Now, in the last couple of

535
00:37:54.880 --> 00:37:56.880
years we've been able to take one hundred percent, So

536
00:37:57.199 --> 00:37:59.960
twenty one twenty two we've been at one hundred percent

537
00:38:00.119 --> 00:38:03.440
pre diems. Last year twenty twenty three, twenty twenty four,

538
00:38:03.519 --> 00:38:05.760
twenty twenty five, you're only going to get eighty percent

539
00:38:06.119 --> 00:38:10.079
for DMS. So for twenty twenty four, your per diem

540
00:38:10.280 --> 00:38:15.400
was sixty nine dollars from January one to September thirtieth,

541
00:38:15.480 --> 00:38:18.840
and then it jumps to eighty dollars from October first

542
00:38:18.880 --> 00:38:20.159
to the end of the year. So you're going to

543
00:38:20.239 --> 00:38:24.239
when you need to know how many days and nights

544
00:38:24.280 --> 00:38:30.239
you were away from home in order to calculate this.

545
00:38:30.360 --> 00:38:32.400
So you need to know how many days I was

546
00:38:32.440 --> 00:38:34.880
away from home from January through the end of September,

547
00:38:35.719 --> 00:38:38.440
and then the same thing from October to the end

548
00:38:38.480 --> 00:38:41.519
of December. And then you're going to need to know

549
00:38:41.519 --> 00:38:44.679
how many of the when you started your trip and

550
00:38:44.760 --> 00:38:46.840
end the trip. So your first night and your last

551
00:38:46.920 --> 00:38:50.719
night it only counts as half days. The days it

552
00:38:50.840 --> 00:38:57.639
becomes excuse me, the days in between are going to

553
00:38:57.719 --> 00:39:01.679
count as full days. So you need to count your

554
00:39:01.760 --> 00:39:10.880
days to make sure that you're doing this. Now, your logbook,

555
00:39:10.880 --> 00:39:14.400
your eled or your paper lugs can be used to

556
00:39:14.440 --> 00:39:17.920
support the number of nights that you're away from home

557
00:39:18.400 --> 00:39:24.079
and on the road. To make sure you're getting copy

558
00:39:24.119 --> 00:39:29.519
of those logs so that you don't miss those for dams. Now,

559
00:39:29.559 --> 00:39:32.440
the IRS does have qualifications for truck drivers to be

560
00:39:32.480 --> 00:39:37.519
eligible for DM deductions, and these read like this. The

561
00:39:37.559 --> 00:39:43.519
IRS established specific criteria for you and the transportation to

562
00:39:43.719 --> 00:39:47.559
claim the standard meal Incidental Expense deduction on your taxes,

563
00:39:47.679 --> 00:39:50.920
and you have to be employed guess what in the

564
00:39:50.920 --> 00:39:55.599
transportation industry, and your job must keep you away from

565
00:39:55.639 --> 00:39:58.960
home on a regular basis long enough for you to

566
00:39:59.079 --> 00:40:01.800
sleep away from home. So if you're one of these

567
00:40:01.840 --> 00:40:04.440
truck drivers that are doing local and your return home

568
00:40:04.480 --> 00:40:08.320
every night, you're not getting the per diems, and you're

569
00:40:08.360 --> 00:40:12.719
not able to do your lunches unless you're having a

570
00:40:12.760 --> 00:40:19.920
business meal. Your job must directly involve moving goods or

571
00:40:20.039 --> 00:40:28.159
people by truck, train, bus, ship, airplane, or BArch Irs

572
00:40:28.159 --> 00:40:32.559
require qualifications for truck drivers to be eligible for predem deductions.

573
00:40:32.840 --> 00:40:36.280
Here's the big one. You must have a tax home.

574
00:40:38.480 --> 00:40:41.159
To qualify for a tax home, you are required to

575
00:40:41.320 --> 00:40:44.800
encurve expenses to maintain the home while you're on the road. So,

576
00:40:44.800 --> 00:40:49.559
whether you're leasing an apartment or have a house, you've

577
00:40:49.639 --> 00:40:52.079
got to be paying to maintain this. Now, if you

578
00:40:52.119 --> 00:40:55.159
live with somebody else, it's not your home. If you're

579
00:40:55.239 --> 00:41:02.800
leasing from them, it becomes your home. If you live

580
00:41:02.840 --> 00:41:07.199
in your truck, they consider that to be a tax turtle.

581
00:41:07.719 --> 00:41:11.800
Your home moves with you. You never leave home. You're not

582
00:41:12.039 --> 00:41:20.760
getting per diems, and make sure you're able to track

583
00:41:21.000 --> 00:41:30.000
your nights on the road. Now, if you are a

584
00:41:30.039 --> 00:41:34.239
business and you've got employees, and you're in the transportation business,

585
00:41:34.280 --> 00:41:37.840
and you've got truckers driving for you, you can call this.

586
00:41:38.000 --> 00:41:42.079
We can structure a plan for you that increases their

587
00:41:42.159 --> 00:41:45.840
take home pay by using per deems that you pay

588
00:41:45.920 --> 00:41:51.599
for them to be on the road overnight, save yourself

589
00:41:51.639 --> 00:41:55.239
money on payroll taxes if they happen if they are

590
00:41:55.280 --> 00:41:59.360
on W two wages, which if they are employees of yours,

591
00:42:00.199 --> 00:42:06.360
they have to be on W two wages. We can

592
00:42:06.400 --> 00:42:10.239
develop a system that allows you to pay per dms

593
00:42:10.280 --> 00:42:15.920
and reduce the taxable income that your drivers have with

594
00:42:16.039 --> 00:42:22.840
the use of per diems. And we talked about oh

595
00:42:23.000 --> 00:42:29.400
Ideas truck to Success. We've talked about o ideas cost

596
00:42:29.480 --> 00:42:34.119
per mile and if you go to o ida dot

597
00:42:34.119 --> 00:42:40.440
com slash Trucking dash Tools slash cost per Mile, you'll

598
00:42:40.480 --> 00:42:42.480
be able to get to their cost per mile worksheet

599
00:42:42.480 --> 00:42:45.239
and be able to fill that in. It is a

600
00:42:45.320 --> 00:42:48.400
really nice worksheet and it does help you figure out

601
00:42:48.519 --> 00:42:57.079
your fixed cost versus your variable costs. Now, we're trying

602
00:42:57.079 --> 00:43:02.559
to do everything we can to keep this simple and

603
00:43:03.480 --> 00:43:08.559
how simple you keep it is really up to you.

604
00:43:11.159 --> 00:43:15.840
You want to make it as simple as possible. We

605
00:43:15.920 --> 00:43:17.920
try to make it as simple as possible for you.

606
00:43:17.960 --> 00:43:21.840
We even have a great worksheet you can use to

607
00:43:21.880 --> 00:43:25.320
come up with your own plan on how to do

608
00:43:25.559 --> 00:43:34.320
your own bookkeeping and save the most money possible. You know,

609
00:43:34.320 --> 00:43:38.519
we talk about the most overlooked truck driver deductions and

610
00:43:38.679 --> 00:43:41.639
when we look a lot of times back at things

611
00:43:41.679 --> 00:43:45.800
like personal supplies and not all personal supplies are considered

612
00:43:45.840 --> 00:43:48.960
tax deductible. And in order for personal supplies to be

613
00:43:49.000 --> 00:43:52.639
considered tax deductible, they have to be ordinary and necessary

614
00:43:52.760 --> 00:43:55.719
for your operating your business. Here's a few examples of

615
00:43:55.800 --> 00:43:58.920
things that we see missed as personal supplies that could

616
00:43:58.920 --> 00:44:09.159
be deducted. Uniforms, bluffs, motel expenses, boots, showers, Hey you're

617
00:44:09.199 --> 00:44:15.880
on the road, those are deductible. You know. Personal supplies

618
00:44:15.880 --> 00:44:19.400
and supplies is a broad tax deduction category that we

619
00:44:19.519 --> 00:44:22.960
really have to think about. Keeping in mind the iris

620
00:44:23.000 --> 00:44:26.480
words ordinary and necessary will make it easier to decide

621
00:44:27.719 --> 00:44:35.599
whether or not an item is tax deductible. Communication, you know,

622
00:44:36.119 --> 00:44:42.480
similar to the previously mentioned truck driver deductions, any technology

623
00:44:43.519 --> 00:44:46.000
needed for communication in order to run your business can

624
00:44:46.039 --> 00:44:49.960
be considered tax deductible expense. As a truck driver, there

625
00:44:49.960 --> 00:44:53.239
are many methods of communication that you will be able

626
00:44:53.280 --> 00:44:57.360
to deduct from your taxes. Some examples of these communications

627
00:44:57.400 --> 00:45:04.280
are going to be CB radio, cell phone, internet radio, satellite,

628
00:45:04.440 --> 00:45:10.119
radio phone cards. Yep, people still do use phone cards

629
00:45:10.159 --> 00:45:17.280
to communicate and make the phone calls. CB radio's great devices.

630
00:45:17.599 --> 00:45:19.880
I still remember as a kid growing up when my

631
00:45:20.000 --> 00:45:23.280
uncle installed a CB radio in my dad's old station

632
00:45:23.360 --> 00:45:26.599
wagon and we were on the road, and you know,

633
00:45:26.679 --> 00:45:30.400
we had had fun talking on that radio. Probably drove

634
00:45:30.480 --> 00:45:35.599
some of the trucker's nuts listening in and my dad

635
00:45:35.719 --> 00:45:38.840
or or my mom or I or whoever was on

636
00:45:38.920 --> 00:45:43.119
the CB and talking and going from there, and you know, hey,

637
00:45:43.159 --> 00:45:46.800
what's your handle? You know those are those are a

638
00:45:46.800 --> 00:45:51.239
lot of fun things that you could do out there.

639
00:45:52.480 --> 00:45:59.480
Something else that gets missed quite often is meal and entertainment.

640
00:46:00.280 --> 00:46:04.719
So if you're taking clients or prospects out, you're looking

641
00:46:04.760 --> 00:46:07.880
for somebody that's going to provide you loads, and you're

642
00:46:07.960 --> 00:46:10.920
out having a business meeting or discussion, and you take

643
00:46:10.960 --> 00:46:14.480
them to lunch or take them to dinner. Those can

644
00:46:14.519 --> 00:46:16.559
be expenses that you write off. It's got to be

645
00:46:16.639 --> 00:46:23.599
bonafide business discussion with you know, client and prospect, referral sources,

646
00:46:23.760 --> 00:46:28.079
business colleagues, and it's fifty to fifty. You write off

647
00:46:28.119 --> 00:46:33.119
fifty percent of it. If husband and wife running a

648
00:46:33.199 --> 00:46:37.639
business and you're you know, your wife is at home

649
00:46:37.679 --> 00:46:39.480
taking care of the house. But when you're at home,

650
00:46:39.679 --> 00:46:41.920
you guys go out to eat and you guys talk business.

651
00:46:41.920 --> 00:46:45.760
Where's the next loads coming from? Maybe she's helping you

652
00:46:45.840 --> 00:46:51.960
in the business. Those kind of meals because you're talking business,

653
00:46:52.119 --> 00:46:57.960
are a tax deduction in our deductible business expenses that

654
00:46:58.119 --> 00:47:03.559
you can use in your business. You want to keep

655
00:47:03.599 --> 00:47:09.039
track of how much, when, where the business purpose, and

656
00:47:09.079 --> 00:47:17.880
what the business relationship is. That helps you save money

657
00:47:17.920 --> 00:47:21.679
on your taxes for something that is something you're going

658
00:47:21.760 --> 00:47:25.760
to go through and do anyway, and it makes it

659
00:47:26.000 --> 00:47:30.639
a tax deductible business expense. You know, there are a

660
00:47:30.639 --> 00:47:32.599
lot of other expenses you may not think about that

661
00:47:32.679 --> 00:47:36.960
are business related. Think about that term ordinary and necessary.

662
00:47:37.039 --> 00:47:40.320
What can we use in business?

663
00:47:41.400 --> 00:47:41.559
Hey?

664
00:47:41.559 --> 00:47:44.559
Where will we see you this year? You're a truck driver?

665
00:47:44.920 --> 00:47:48.159
What event you're going to go to? Are you going

666
00:47:48.199 --> 00:47:52.119
to go to the Texas Trucking Show, an American Trucking Show?

667
00:47:52.119 --> 00:47:55.360
You're going to be out at Walcott. We're going to

668
00:47:55.360 --> 00:47:59.239
be doing certain events around the country as well. We're

669
00:47:59.280 --> 00:48:04.280
going to be out Leesville, Louisiana for a great Louisiana

670
00:48:04.320 --> 00:48:09.599
Moonshine Festival. Hey, what makes taxes easy? You know us

671
00:48:09.920 --> 00:48:15.519
Tucker tax tools and moonshine. Hey, Moonshine helps you forget

672
00:48:15.559 --> 00:48:17.719
about everything. So come to the Moonshine event and you'll

673
00:48:17.719 --> 00:48:20.360
come to see us out there. There's going to be

674
00:48:20.920 --> 00:48:25.440
a great music and other things going on of course Moonshine.

675
00:48:25.840 --> 00:48:28.079
You're gonna see some good friends of ours like Mike

676
00:48:28.320 --> 00:48:32.599
if Hughes playing at the event, Dave Gore, Charity Adams.

677
00:48:33.719 --> 00:48:37.639
These are people that we've known for years and have

678
00:48:37.679 --> 00:48:41.360
been had been an American trucking show with us. Come out

679
00:48:41.400 --> 00:48:44.239
and join us and have some fun out of the

680
00:48:44.239 --> 00:48:50.280
Moonshine event. It is in March. It's going to be

681
00:48:50.360 --> 00:48:54.880
Friday March seventh, Saturday March eighth. Go to the Louisiana

682
00:48:54.920 --> 00:49:00.559
Moonshine Festival dot com and check them out there. The

683
00:49:00.599 --> 00:49:02.519
great music that they're going to have out there is

684
00:49:02.519 --> 00:49:08.039
from Keeping It Country Alive. They are a internet radio

685
00:49:08.039 --> 00:49:10.639
station that plays great country music. So if you're on

686
00:49:10.679 --> 00:49:14.159
the road looking for something to listen to that's great

687
00:49:14.199 --> 00:49:18.199
country music and go see us. But should always be

688
00:49:18.360 --> 00:49:23.079
here every Monday at ten o'clock at tax Talk for

689
00:49:23.360 --> 00:49:28.760
You dot com W four CUI Radio and join us.

690
00:49:29.719 --> 00:49:32.360
So if you haven't done it yet, go to tax

691
00:49:32.400 --> 00:49:36.559
talkfor You dot com. And subscribe and be here every Monday,

692
00:49:36.960 --> 00:49:39.440
and we appreciate it. You know, a safe week out there.

693
00:49:39.480 --> 00:49:42.440
If you're a trucker, owner, operator, small businessman. We appreciate

694
00:49:42.480 --> 00:49:46.199
everything you guys do for this country and we look

695
00:49:46.239 --> 00:49:49.639
forward to this twenty twenty five being a fantastic better

696
00:49:49.719 --> 00:49:53.440
year for all businesses and owner operators. Thank you for listening.

697
00:49:54.599 --> 00:49:57.760
Are you an individual or business that wants to understand

698
00:49:57.880 --> 00:50:01.239
taxes and how they affect you? Are you looking for

699
00:50:01.280 --> 00:50:06.679
specific tax advice for self employed business owners and truckers.

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Are you behind on taxes and your bookkeeping? Are you

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dealing with dirs and ready to have some relief, then

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you need Tax Talk for You, hosted by tax and

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trucker expert Barry G. Fowler EA Kellian ten am Eastern

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Time every Monday, right here on W FOURCY Radio and

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Talk for TV. Don't forget to check this and past

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episodes at tax TALKFORU dot com. See you next week

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at W fourcy dot com