Truck driving can be a very challenging profession, especially when it comes to dealing with taxes. Whether you are an owner-operator or a company driver, you are responsible for keeping track of your income, expenses, and tax obligations.

It’s important to know the importance of planning ahead. From mapping out the most efficient routes to making sure your truck is properly maintained, you are used to taking steps to ensure that everything runs smoothly. But have you thought about planning for your retirement?

As a truck driver, you know that keeping yourself and your family healthy is a top priority. But did you know that you may be able to deduct the cost of health and dental insurance premiums for yourself, your spouse, and children under the age of 27? This can be a valuable deduction that can help you save money on your taxes.

Are you an over-the-road (OTR) driver who spends the night away from your main home? If so, did you know that you may be missing out on a huge tax deduction? The IRS allows you to claim a $69 deduction for every day you are working away from your home, provided you meet certain requirements.

During the 1099 season, businesses and individuals who have received certain types of income must report it to the IRS and to the recipient of the income, usually by the end of January.

The March 15th deadline gives the business additional time to prepare its tax return compared to C-Corporations, which must file their tax return by April 15th.