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Doing Taxes as a Leased on driver
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- čas přidán 17. 08. 2024
- This video is about me doing taxes as a leased on driver. Things are much different now. I had to keep receipts for all of my expenses. Instead of getting a W2, I got a1099. To my surprise, I didn't owe much. Let's see what next year bring.
Web site for keeping track of all of your receipts:
www.veryfi.com
Thank you for share that.
This video here is is worth more than it's weight in gold!! Keep up the good work 💪💪💪. Making me want to start driving again!!
My next move brother. I Love that you Give legitimate verifiable knowledge without gaslighting. You’re a Good man and I appreciate you brother!🙏🏽👏🏽👏🏽
You’re welcome. That’s the only way
Thank you Mr. Miles!!
God bless you, thank you for your time and information. Very well explained 👍
Anytime. God Bless
The most important things you need to know!! You are doing the best job showing new “ potential entrepreneurs” how to get it done the smart way,.. saving some serious pain for sure!! My hats off to you brother!! Your information is gold! Good luck in your adventures
I really appreciate that. Thank you 🙏
Willie, I have been doing taxes for owner operators for about 15 years, and was an owner operator for 18. I was with Landstar for 12. Just a couple of things. It is easy to keep track of per-diem, simply use your log book. Make sure you download a copy of them from the eld service provider. You earn 1 day for every day that you are out, and 3/4 of a day the day you leave home, and the day you return home. This year's rate is 80% of $66 per day. Be careful with incorporating. If the business, as a sole-proprietor, is not consistently generating about $60,000 in net income, including depreciation and per-diem, there is generally no benefit in incorporating.
You maybe my Angel on earth to do my taxes. IRS question: As it relates to contractors hiring subcontractors. When does the subcontractors become an employee of the contractor? To my understanding the subcontractor becomes an company employee when the contractor controls his schedule and how the subcontractor does his/her job. Can you advise on my question.
@@tooswee Basically, there are two tests when considering the classification of an employee or contractor. Does the contractor have something at risk, or have money in the game? Second, does the contractor have the ability to choose when and how the work is performed? There are actually more tests outlined than this. However, these two items will generally be sufficient to make a determination. The trucking industry is full of individuals being classified as contractors when they are actually employees. Hope this helps!
Thank you.
@@schultz1966 that will not only clear my mind but everyone who read your response to my question. And you responded with clarify. Thank you so much now how do I reach you?
Thank you for the video. Thank you for the clear clean language. God bless you
You’re very welcome. Blessing to you and yours
Thank so much for taking time out of your day to share all this valuable information!
Your welcome
Thank you, Thank you, Thank you so much
for taking the time and expense to make these videos.
Infinite Blessings to you and your lovely family::)))
Thank you. I appreciate that. God Bless
Thanks so much for your time and the information you share with us! God bless
Anytime. God bless
Thank you man....huge help to get me started.
Cool
Thanks for the good info! 👍🏽👍🏽
Anytime
Solid information all around.
Thanks for the good info.
Great news
Willie is right, if you are not organized, you will fail. No BS. You know yourself, be honest with yourself.
Tell’em Tom. They will get it now or later
bro this is really helping me out!! thank you!!
Anytime
Thanks for all the helpful info.
You’re welcome
Great info appreciate it.
Cool. Appreciate it bruh
Love the video
Hey man , I’m looking to jump into a lease operator position for myself and I’m living in California too.. And starting it in California scares me a lot, I know they almost shut down owner operators/ lease drivers truckers not that long ago in California . I feel like maybe I should move to another state before I start everything up but I’d rather stay in California and get my own truck, anyway my point is maybe you can do a video to help people in California get started or maybe you can give me some advice on the whole getting started in California thing.
Great info , thanks for what you do.
Thanks so much for that video. And u right everybody wants to make more money but tax time roll around everybody get a lil hush mouth... Lol but this should be addressed because it's a lot of cats done went out of business behind taxes.... So that u my brother for that. And good luck on ya bizz and stay safe....
good looking out driver.
Hey just I been driving for a company 1099 how to do find a good tax person
Do a search online for tax professionals who work with truckers. Get a least three quotes
How much is per diem now
Not sure
I have a chilling I file fo taxes is that good
Do you mind sharing your cpa or tax preparers info? I just started as a lease on driver and the taxes seems to be complicated I haven’t paid. Looking for some guidance
No problem. I’m with ATBS. I’ll be putting out a video on that this week.
I've been viewing your content for a couple of days recently you began talking about taxes and I like to try to talk with you in person and get in the opportunity ity I'm new to trucking and my name is Christopher Shepherd and I already started my LLC ein and bank account I need to speak with somebody with some experience and I appreciate your content
Email me at silverbacktalk@gmail.com
Are you using Final Cut Pro for your editing?
No, I’m using LumaFusion on my phone. I’m in the process of getting an iPad Pro to install LumaFusion on. My phone is just TOO small
who is your tax accountant??
I have ATBS. There are better companies out there. I’m just saying
Hey brother !! Whats good I’m old school 😂 I put things in a ziplock bag for the month and take it to my accountant 1 zip lock per month 😂
Lol. As long as it works. Just keep a copy for your records