Congratulations; You’ve either made the decision to enter into the Trucking business world or contemplating it! Now, besides for the money that is potentially there, the highlights of a life of Self-Employment accompanies fresh uncharted territory for some. The uncharted territory  we are specifically addressing are the Federal and State tax related issues that come with operating a Trucking Company.  At Wise Dispatching, in addition to providing a personalized Truck Dispatching service, we provide accounting and tax services to our trucking clients and compiled a guide of Federal and State tax related issues Trucking companies potentially face in operating their business.

Tax Guide

12% Federal Excise Tax on New Tractors/Trailers

Depreciating Trucks & Trailers

Highway Vehicle Use Tax – IRS Form 2290

Drivers W2 or 1099

1099 Required To Be Issued?

T-Check Income/Expenses

Reimbursed Meals – Wages or Non Wages 

Drivers Standard Meal Allowance

Capitalize or Expense Truck Repairs

Trucking Company Penalties and Fines Tax Deductible 

Taxable Implications on Rebates on Equipment 

Sale or Exchange of Trucking Equipment

Depreciating Truck Tire Purchases

International Fuel Tax Agreement (IFTA) 

State Taxation Issues Trucking Companies


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