HI,
Just a question about taxes that may be best answered by a scenario ....
Assume a person makes $1.00 per loaded mile and the standard deduction for that year is .55 per mile.
The person drives a total of 10 miles to the pick up point, then 200 loaded miles to deliver and 210 miles back home.
In this scenario :
$200 earnings ($1.00 per loaded mile) = $200 earnings
Tax write off $231 ( 10 miles to pick up , 200 loaded miles and then 210 miles (420 miles x.55)
For a net loss on...
Read more
Just a question about taxes that may be best answered by a scenario ....
Assume a person makes $1.00 per loaded mile and the standard deduction for that year is .55 per mile.
The person drives a total of 10 miles to the pick up point, then 200 loaded miles to deliver and 210 miles back home.
In this scenario :
$200 earnings ($1.00 per loaded mile) = $200 earnings
Tax write off $231 ( 10 miles to pick up , 200 loaded miles and then 210 miles (420 miles x.55)
For a net loss on...
Read more