Owner-operators have one of the richest deduction lists out there — led by the per-diem meal allowance most drivers underuse.
As an owner-operator you run a trucking business: you owe self-employment tax on your net profit and file a Schedule C. Your truck, your fuel, your maintenance, and the road itself generate deductions — and the DOT per-diem meal allowance for days away from home is a big one drivers often leave on the table.
You'll also deal with trucking-specific filings like the Heavy Highway Vehicle Use Tax (Form 2290), and permits like IRP and IFTA.
Income you’ll report on: 1099-NEC.
Most people in this line of work leave money on the table. Here's what we make sure to capture:
If you earn as an independent contractor, yes — self-employment tax is 15.3% (Social Security and Medicare) on your net profit, on top of regular income tax. You deduct half of it, and every business deduction lowers what you owe. We handle the calculation on Schedule SE.
Common write-offs include per-diem meal allowance for nights away from home (dot rate), truck payment / depreciation, fuel, repairs, maintenance, and tires, insurance and licensing (irp, ifta), plus a share of your phone and any home-office use. We go through your year line by line so nothing legitimate gets missed.
If you expect to owe $1,000 or more for the year, the IRS generally wants quarterly estimated payments to avoid an underpayment penalty. We calculate them so next April isn't a surprise.
Yes. Your income is taxable whether or not a client or platform sent a 1099. We report it correctly and offset it with every deduction you qualify for.
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