taxes

POLL: Have you ever been through an IFTA or IRP audit?

How commonly state auditors review IFTA and IRP records of owner-operators is not widely known -- what's been your experience with audits of your International Fuel Tax Agreement filing or International Registration Plan records?

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Trump proposes tax cut for owner-operator businesses

It’s unclear how many single-truck owner-operator businesses would be affected by the tax cut, as many owner-operators already are in or below the 15 percent bracket.

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NY to pay owner-operators $44 million in settlement over out-of-state fees

The state’s Supreme Court agreed earlier this year with OOIDA’s challenge that the registration and decal taxes in the state were unconstitutional and discriminatory against out-of-state truckers who drive mostly in other states. New York will soon refund truckers for the tax.

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POLL: How do you handle your IFTA reporting and info recording?

Owner-operators, how do you handle your IFTA reporting and data collection -- pen-and-paper or electronic records? Specialized software? Third-party filing services? Or does your leasing carrier handle it? Weigh in here.

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Heavy vehicle use taxes due Aug. 31

The IRS now requires an appointment for those who wish to file heavy vehicle use tax in person. The agency’s Form 2290, filed when paying the annual fee, is due Aug. 31.

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Bill opposes hiking new-truck tax

Sen. Cory Gardner (R-Colo.) introduced the legislation, putting the Senate on record opposing an increase of the FET, which at 12 percent is already the highest tax by percentage levied by Congress on any product.

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IRS to allow higher per diem for meal expenses for owner-ops starting Oct. 1

Truck operators starting Oct. 1 will be able to deduct up to $4 more a day from their yearly income for meal expenses. A change in IRS rules that goes into effect that day raises truckers’ per diem meal expense rates to $63 a day, up from the current $59 mark.

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Paying the Obamacare penalty this tax season? New enrollment period in the offing for 2015 coverage

In order to take advantage of the new, March 15-April 30 period, individuals must report initial awareness of the penalty this tax season.

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ATBS tax-savings webinar 3/6

The webinar is focused on strategies to minimize your tax liability and will be held 4-5 p.m. EST. You can reserve your space via links you'll find here.

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ATBS tax ebook available

With chapters devoted to tax liabilities, deductions, key credits, successful bookkeeping practices and some alternative tax strategies, ATBS' new ebook focuses on how owner-operators can pay less in taxes.

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