The world of tax preparation for truck drivers can be a labyrinth, given the unique employment circumstances under which they work. Some drivers are employees of a trucking company (company drivers), while others are independent owner operators. The tax responsibilities and potential deductions differ greatly between these two groups. This article breaks down how tax…

There may be times when you’ve dutifully paid the Heavy Vehicle Use Tax (HVUT), and then your vehicle ends up not being driven the minimum number of miles. Or, maybe you sold or traded the vehicle for a new one. Or, in a stroke of bad luck, the vehicle in question was stolen, or destroyed…

As an owner-operator in the trucking industry, your roles are multifaceted and demanding. Your daily routine extends far beyond the miles on the road—it encompasses every aspect of running a business. You’re a driver, a logistics manager, a customer service representative, and above all, a finance officer overseeing your enterprise’s financial health. But just like…

As a truck driver, if you fall into the category of owner-operator, you are essentially responsible for running your own business. Like any small business owner, this means you’re the person managing the finances. While trucker bookkeeping—the practice of maintaining records of your business’ financial transactions—is similar to what any small business does, the nature…

When it’s tax time, anyone who drives trucks for a living knows it’s also time to file Form 2290. But how much does it cost to file a 2290? The answer might not be as straightforward as you’d think (or hope). If you want to file by mail, you can only do so with the…

The heavy vehicle use tax (HVUT) can be a significant expense for many, but did you know that some vehicles might be exempt? This federal tax, aimed at maintaining the quality of our nation’s public highways, is applied to heavy vehicles over a certain weight to compensate for the wear and tear they cause. However,…