Fort Lauderdale Tax Preparation for Independent Truckers Lawyer Assisting Truck Drivers with Tax Issues in Florida

Unlike company truck drivers, independent truckers must pay special attention when it comes to preparing, filing, and paying their taxes. The IRS can be merciless when collecting money that is owed to them, so it’s important to choose the right professional to help you prepare your taxes as an independent trucker or settle any issues with the IRS before they escalate into something more serious.

How Should an Independent Truck Driver File Taxes?

The forms you should have in order to file your taxes as an independent truck driver may vary depending on whether you drive for one or more clients and/or have more than one truck and employ other drivers to operate those trucks. If you are an independent contractor for one company, that company should provide you with a form 1099. The same is true for every company you provide services for – each one of them should give you a 1099 form for all services you provided them during the previous year. If you have employees, you will need to send each employee a W-2 form and pay any applicable employment taxes.

While it may make sense to have a friend or acquaintance prepare your tax return for you because they don’t charge much, doing so often proves to be a risky proposition. Filing your taxes incorrectly may lead to endless headaches, which could potentially result in a tax audit or penalties and interest owed to the IRS. Make sure to choose someone who is knowledgeable of the latest updates in tax law and can help you stay compliant with the IRS, such as a tax attorney.

Can Independent Truckers Claim Any Deductions?

Driving a truck as an independent trucker can be expensive. Fortunately, the IRS allows for a variety of expenses to be deducted from your taxes. Truckers may be eligible to claim these deductions as long as they have what the IRS refers to as a “tax home”, i.e., a regular place of business or usual starting point for their trips

Some of the most common categories of expenses that can be deducted from your taxes include travel expenses (meals, accommodation, toll booth fees, parking fees, etc.), association fees (i.e. the membership dues for trucking unions or associations), mandatory medical exams, truck maintenance, and cleaning expenses, costs associated with obtaining and maintaining a commercial driver’s license, and many others. Always save receipts for even the smallest expenses you incur on the road, as they may add up and save you on your tax bill in the long run.

What Should I Do if I Am a Trucker and I Owe the IRS Back Taxes?

If you have tax debt or unfiled tax returns, waiting or ignoring the problem is probably the worst thing you can do. The IRS is tireless when it comes to collecting their money, and if you have past due tax returns or unpaid taxes, you may be at risk of jeopardizing your business and all your assets.

Whether you failed to file your return because you believed you wouldn’t be able to afford the taxes for that year or you made a mistake and failed to pay quarterly taxes as an employer, it is best to take action and recruit the help of a tax lawyer as soon as possible. The IRS does not like to be ignored and will do everything they can to get their money – even if that means taking part of your income or seizing and selling your assets. There are many options to settle your back taxes without threatening your financial well-being or the integrity of your trucking business. Speak to a tax attorney to discuss your situation and learn your options to settle your tax debt.

Why Is It Better to Hire a Tax Lawyer Instead of a CPA for My Truck Driver Tax Preparation?

Tax laws in the US change rapidly, and every update has the potential to affect how you file and pay your taxes as an independent truck driver. Having the right plan to prepare for tax season and staying informed on the latest IRS updates can seem like a full-time job, so it is quite risky to delegate your tax preparation to someone who simply offers to do it cheaply but may not fully understand the tax obligations of independent truckers.

Even if you choose a CPA, you may not be fully protected in case you find yourself in the middle of a tax-related dispute with the IRS. Your CPA can be called to testify against you and is obliged to share all the personal and financial information you shared with him/her. However, a tax attorney for independent truckers is not obliged to testify against you, and thanks to the attorney-client privilege, any information you shared with your attorney will remain private.

The Law Office of Ray Haselman helps independent truckers in Fort Lauderdale and nationwide to handle their tax preparation needs and solve tax problems with the IRS. We understand the specificities of the trucking business and are prepared to offer you knowledgeable, professional tax preparation services for you and your business. Attorney Ray Haselman is also skilled in negotiating with the IRS and settling a wide variety of tax problems on behalf of his clients.

Whether you are a truck driver looking for advice to avoid any tax problems or need help to fix your IRS issues, contact the Law Office of Ray Haselman in Fort Lauderdale at 786-522-0410.