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Owner Operator Tax Deductions

Do you know what my favorite word is... deductions. You work hard for your money and the last thing you want to do is give it away. Tax liability can be huge for owner operators. In my opinion, you have 2 choices. You can find legitimate expenses that will boost your business, comfort and overall success or you can give it to the government.


Most common deductible expenses are below, but they are not limited to these. Save your receipts and ask a professional if you are unsure!


Depreciating Property

Equipment Damage from accidents or bad weather

Home Office Deductions

Business Related Loans

50% of Phone and Internet

Bank, Credit Card and Services Fees

Insurance Premiums

Satellite Radio, GPS, and Load Board Subscriptions

IRA’s or other Retirement Contributions

Repairs and Maintenance. Other than fuel, this will be your biggest expense.

Mileage and Tolls

Diesel Fuel

Professional fees, Licenses and Permits

Meals Per Diem

Truck Lease Payments and Costs


#truckdriverstaxdeductions #owneroperators #welovetruckers #4leafbookkeeping #truckersmatter #truckersfirst



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