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ACCOUNTING | TAX SERVICES
Exclusively Designed Tax Services for Owner Operators
Tax preparation for truck drivers has many pitfalls. Avoiding the most common mistakes that inevitability leads to financial and tax problems for owner operators should be one of your top priorities. Keeping track of your profitability in the trucking industry is tough in perfect conditions. Throw in receipts from all over the country and constantly being on the road, and the task becomes overwhelming.
Some of the most common mistakes to avoid:
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Track all income: the most common mistake for owner operators is forgetting about a payment or forgetting to enter a payment received.
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Underestimating quarterly tax payments: not paying enough estimated taxes can give a false sense of security and a financially painful surprise later when you complete your annual tax return.
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Errors on past tax filings: inadvertently omitting payments received or deductions incurred on your tax return can lead to under or over-payment of taxes. Errors of this type can be corrected.
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Unable to pay tax liabilities in full: a common error owners operators make is not filing at all when they realize they cannot pay. It is extremely important to file regardless of your ability to pay. Tax balances owed can we worked out.
We can help owner operators avoid tax issues with federal and state agencies. Contact us for information on our tax packages for owner operators starting as low as $12 per week!! We offer a variety of services that includes:
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Accounting and Tax consultations
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HVUT Preparation-Form 2290
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IFTA
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Estimated tax payment calculation and submission
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Federal & State tax return preparation
Let us take care of the tax filings for your trucking business so you can focus on moving loads to maximize your profitability!!
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Facts and Figures fills both the taxpayer and business owner needs for trustworthy and accurate services and stands behind all work we produce.