114 Ways to Save — Truck Driver Tax Deductions

As truck drivers, you fully understand the importance of planning ahead. A truck driver doesn’t just start out on a load without any idea where he’s going or what roads he’s going to take, does he? He doesn’t, and you shouldn’t start out on your taxes without any planning, either. Even though tax time is a ways away, you can begin preparing now.

As with other jobs, truck drivers are eligible to claim a whole bunch of deductions on their taxes. If you opt for itemized deductions, you might be overlooking quite a few items you regularly purchase for your truck driving job that can be written off on your taxes. CDL Life put together this infographic on everyday items that truckers may be able to write off, and we thought we’d share with you this Financial Friday.

Tax Deductions for Truck Drivers

Standard vs. Itemized Tax Deductions for Truck Drivers

There are two common types of truck driver tax deductions — standard and itemized. Writing things off like those in the list above is part of filing an itemized tax deduction. It requires keeping track of all the expenses throughout the year that you might want to write off. Tip: It goes without saying that if you opt to go this route, make sure you keep track of all your receipts! A mini pocket organizer like this would be a great way to file everything on the road.

Standard deductions are a base amount of income used to reduce your taxable income depending on your filing status, age, whether you’re disabled or claimed as a dependent on someone else’s taxes. Standard deductions are generally much more hassle-free than itemized and are usually greater than the amount you’d reach with itemized returns, but you should opt for whichever deduction gives you the largest tax break.

Obligatory Disclaimer: We are not tax professionals. Consult with a professional for tax and financial advice.

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Do you file standard or itemized tax deductions?

This entry was posted in How To Save, Money and tagged , , by Amanda. Bookmark the permalink.

About Amanda

Amanda is a former digital communications coordinator and frequent blogger for the TheHealthyTrucker.net, a website focused on truck driver health initiatives. Our mission is to encourage truck drivers to embrace a healthier lifestyle by providing both expert advice and real world experiences. Let us be your co-driver on the road to a healthier, happier life!