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Showing posts with label Personal Tax Extension. Show all posts
Showing posts with label Personal Tax Extension. Show all posts

Tuesday, October 2, 2018

Everything You Need to Know 1099 vs. W2

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Everything You Need to Know 1099 vs. W2
As a fleet owner should you give your drivers a 1099 or W-2 Form? That’s the question for truck drivers and fleets we hear a lot. You might think you have a ton of time before the tax season, however, now is the time to get your documents in order. The last thing you want is the IRS on your case about the classification of your drivers.

While we do tend to focus on Form 2290, we understand the personal taxes of a professional truck driver can make a huge difference for both companies and drivers. 

Do Your Drivers Need a 1099 or W-2?

Misclassifications continue to be a subject for concern among both companies and drivers, so it is a point that needs particular attention. So how should your fleet approaches classification?

When you bring on a new driver, you should determine if they are a full-time employee or an independent contractor. This should be priority number 1!

This will determine if they will receive a 1099 or W-2. Now, we’ve heard stories from some drivers where companies won’t discuss employee status until tax forms are due, but we suggest clear and open communication with your drivers from the very beginning.

Some fleets might be tempted to put the burden of taxes on drivers and send them a Form 1099, but that route can only be traveled with specific conditions geared towards independent contractors.

My point is that treating a full-time employee as an independent contractor will lead the IRS to your front door. Plus, the IRS get their money one way or another. Might as well keep your classifications kosher. 

Independent Contractor or Company Driver?

The status of your drivers needs to be determined before the hiring process even starts. There are specific guidelines set by the IRS on what classifies as a contractor and which 1099 to file.

If you’re an independent contractor, you will have to cover your end of government expenses, but you also have more choice in how you haul.

Don’t Wait Until The Last Minute

If you have any questions about your business tax forms, contact our sister product, TaxBandits. It is their mission to help your business save time and money this upcoming tax season. Their bilingual support team is available via phone, live chat, and email. Click here to learn more.



Learn More About TaxBandits






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Tuesday, April 17, 2018

How To Cruise Your Way Through Tax Day 2018

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Truck Driver Cruising Through Tax Day 2018
Tax Day 2018 is finally here! Today is the 2017 income tax filing deadline and, we want to make sure you have everything you need to avoid IRS penalties and interest.

Need more time to file? We have the solution to your last-minute tax filing crisis... 2018 tax extension Form 4868.

Here is the secret to cruising your way through tax day 2018.

How To Cruise Your Way Through Tax Day 2018

Whether you are still gathering your tax information or totally forgot today was Tax Day 2018, the IRS will automatically grant you an automatic six-month extension to file with Income Tax Extension Form 4868.

Tax Extension Deadline 2018

File tax extension 2018 Form 4868 for any of the following forms:

Form 1040, Form 1040A, Form 1040-EZ, Form 1040NR, Form 1040NR-EZ, Form 1040-PR or 1040-SS.

Once your income tax extension is approved by the IRS, you will have until October 15th, 2018 to file your income tax return penalty-free. Sa-weet!

Reasons To File A Tax Extension

Last-minute tax filing is never a good thing. The top three reasons to file a tax extension include:

1) You Will Make Mistakes
2) Refunds & Credits Will Be Missed
3) Tax Extensions Are So Easy

If you fail to file your income tax return you will face IRS penalties and will find Uncle Sam knocking on your truck door first thing in the morning 🤷🏽.

Do yourself a favor and file for an income tax extension today with our sister product, ExpressExtension.

How To Apply For Tax Extension Form

Filing Income Tax Extension Form 4868 with ExpressExtension literally takes minutes and will extend your 2018 tax deadline date.

Create your free ExpressExtension account and click "Create Personal Tax Extension" from your account Dashboard. If you owe taxes, you will need to estimate your total income tax payment for the filing year. You can use your prior year tax situation as a reference, but give the most accurate approximation as possible.

When you have everything ready, our step-by-step instructions will help you file your tax extension online in minutes, and we will do the rest, so you cruise your way through Tax Day 2018!

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Wednesday, April 6, 2016

Ready for April? 3 Important Moves to Make RIGHT NOW!

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Alright Trucking Nation, April is here! And that means a few things for us in the transportation industry.

What’s going on in April? Well, your personal taxes and fuel taxes are both due. And there’s a chance for you to work on your health!

Extend Your Taxes

First up, your personal taxes are due April 18th. Normally they would be due April 15th, but the weekend buys you some time! And you can get even more time with a Personal Tax Extension Form 4868.

Let’s face it, filing your taxes isn’t fun. But do you know every deduction a trucker can file? There are a lot, so don’t sit on this! And yeah, finding some more deductions doesn’t make it fun. But it makes filing a little bit easier, don’t you think?

Whether you’re filing by yourself or you have someone filing for you, you can get an extension for an additional 6 months to file Form 1040, 1040A, 1040-EZ, 1040NR, 1040NR-EZ, 1040-PR, or 1040-SS.

Let's Get Ready for IFTA!

Alright, we know you don’t want to hear all this tax stuff. If you’re anything like me, it just gives you anxiety. But that’s why we try to make things easier.

How easy? Well, the same login credentials you use for your ExpressTruckTax account works for ExpressIFTA. So you can generate your fuel tax report with the same ease of use that you expect for your 2290s.

How else can you get ready? Instead of waiting until the last moment, take this next week to gather all of your fuel records and trip sheets.

If you’re not running around like a chicken with your head cut off, IFTA is pretty easy, really.

And if you want to make your next round of IFTA even easier, pick up an app like TruckLogics. With this handy cloud-based trucking management software, you can generate and send invoices, create profit & loss reports, and use ProMiles for one-click trip sheets.

Now Is the Time to Get Healthy

Okay, you were supposed to get healthy at the new year. But you didn’t!

If your diet fell apart three weeks into the new year, let April be the month you get healthy!

How? Well, eat better. Change your diet to focus on whole grains, whole veggies, and lean meats and proteins. Yeah, that doesn’t sound as great as a bucket of hot wings, but you need to make some changes.

After you get your diet in check, find time to exercise! We know you can! No excuses. In fact, we’ve told you how to turn your trucking environment into a portable gym. So don’t let that stop you.

Besides, you want that beach bod, don’t you? Ha!

So use April as your time to shine with your personal taxes, fuel taxes, and physical well being. If you have any questions about e-filing your fuel taxes, give the support experts a call at 704.234.6005 or an email at Support@ExpressTruckTax.com.

Are YOU ready for April?



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Thursday, March 17, 2016

5 Deadly & Dangerous Trucker Routes in America

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In this field, worrying about reckless driving is a constant concern. But sometimes it’s not just careless four-wheelers you need to watch out for. Sometimes, the road itself is the dangerous part. In these scenarios, instead of dodging risky drivers, your attention is focused on the dangers of your environment. At least you’ll be focused if you’re on these roads!




The Million Dollar Highway / Colorado
Located on U.S. Route 550 in Colorado, the Million Dollar Highway takes you through the Red Mountain Pass into the San Juan Mountains. Riding at 11,000 feet above sea level, you are faced with a winding road without guardrails and shoulders, so drivers need to keep their wits about them. Why the lack of guardrails? Well, when snow piles up, they need to remove it somehow. That’s right, it goes right off the edge of the road and down the mountains!




Interstate 10 / Arizona
Sure, Interstate 10 runs the entire length of the United States, but the portion that starts in Phoenix and runs to the California border is a step above the rest. While the population of the area is low, the death toll remains relatively high in comparison. And this sparsely populated desert means any hospital or emergency service coming to help you has a ways to go before they can arrive.




James Dalton Highway / Alaska
You knew we were headed to Alaska eventually—I mean, what’s more dangerous than ice road trucking? With Dalton Highway’s 414-mile dirt road stretch, supplying the local oil and gas businesses is no easy task. Also known as the haul road, this route takes truckers through the mountains of the Brooks Range, where it once fell to -80 degrees Fahrenheit, the lowest temperature ever recorded in U.S.! Now, there are occasional helicopter patrols looking out for vehicles piling up, but that does little to decrease the dangers of Dalton. While the road was designed for rigs, four-wheelers can pass through it, but not many auto rental companies will allow tourists to try—so at least we have that assurance.




Interstate 26 / South Carolina
Nothing like a little southern hospitality to keep you safe on the road, right? That counts for most of the South, but the little stretch between Interstates 26 and 95 is a magnet for auto accidents. Maybe it’s the endless trees lining either side of the road, or the steep shoulders, but many a car careen off the tarmac and into the ditches. Maybe it’s the speeding four-wheelers, or the lack of guardrails, but this road has a well-deserved reputation!




Routes 1 & 11 / Maine
Hitting a deer can scratch, ding, or dent any vehicle. But what happens when you hit a moose? Yeah, we’re gonna let you Google that on your own free time. But on both Routes 1 and 11 up in Maine, there can be a moose at any turn! With the hilly terrain, faded road signs, sharp curves, and devastating winters—Maine supplies any driver with enough danger to keep the blood pressure spiking. But hey, somebody has to transport that freight there.


Whatever takes you on these roads, keep in mind that you have a few tax deadlines that would be dangerous to miss. Your personal taxes are due by April 18th, and your IFTA deadline is April 30th. We’re still a few months away from your HVUT 2290’s deadline, but we’ll be here for you then.


If you have any questions about your deadlines, we’re available by phone at 704.234.6005. Our dedicated and friendly customer support team is looking forward to your call!

What’s the most dangerous journey you’ve made in your rig? Let us know in the comments or on Facebook and Twitter!



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Wednesday, March 9, 2016

File Like an Expert: Tax Deductions for Truckers

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Would you head out on the road without any idea where you’re going? I didn’t think so. So why would you head into tax season without a plan?

Your truck isn’t just a vehicle, it’s also a place of business. It makes sense that you would qualify for multiple tax deductions for your truck use.

So let’s look at some money saving secrets you can implement on your tax return. Whether you’re a company driver or an owner-operator, there could be a deduction in your future. Basically, your deductions should be for items that help you complete your driving job.


So What Can I Deduct?

Well what are some items that can be deducted? Cleaning supplies, office supplies, and miscellaneous supplies all count. As long as the supplies help you run and maintain your business, you can claim them.

But it doesn’t stop there! Electronics equipment like your CB radio, power boosters, GPS units (including map updates) can be counted as deductions. Tractor supplies like bunk heaters, coolers, de-icers, and window screens are all fine for deductions, too.

Really, you can apply this to a lot of items that come into use. Bungee cords, load chains, locks, and wide load flags are all vital load securement tools that are required for your work. Tools like electrical tape, tire irons, and flashlights can count, too. Safety clothing like gloves, boots, and thermals can be a necessity for the job.

Your personal hygiene is a vital part of your job, so that can even factor into your deductions! Whether you’re going to a tax professional or working with a family member familiar with tax code, make sure you go over every possible deduction at hand.

I Have a Lot of Deductions… I Need More Time!

Instead of worrying about filing time, head over to ExpressExtension and e-file for an automatic tax extension. With personal extension Form 4868, you can extend your personal filing deadline to October 17th. If you’re a fleet owner, there are plenty of options for you at ExpressExtension. You can e-file business extension Form 7004 and extend your deadline up to 6 months. And if you need more time to file 1099s, W-2s, and ACA Form 1094/1095, e-file Form 8809 with ExpressExtension for a 30 day extension!

When it comes time to file your taxes, professional help is best. And when it comes time to file your HVUT 2290s, call our dedicated, bilingual customer service team at 704.234.6005. Follow us on Facebook and Twitter to keep up with upcoming tax deadlines and the latest trucking news.

What are some other trucking expenses you could claim as tax deductions?


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Tuesday, January 26, 2016

1099s & W-2s for Truckers

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Should your drivers receive a 1099 or a W-2 form? That’s the question for a lot of truckers and fleets this time of year. And while we tend to focus on 2290s around here, understanding the personal taxes of a trucker can make a huge difference for both companies and drivers.

Fleets: Do Truckers Need 1099s or W-2s?filing W2 Form online

Well, let’s get right down to it here – there are a lot of mixed emotions out there over what tax classification drivers belong to. I mean, misclassification continues to be a subject of contention for both companies and drivers.


So how should your fleet approach classification? When you bring on a new driver, you should determine if they’re a full-time employee or an independent contractor from the start. Depending on their status, you’ll either need to send your drivers a W-2 or 1099 come tax time. Now we’ve heard stories from some drivers where companies won’t discuss employee status until tax forms are due, but we suggest clear and open communication with your drivers from day one. Sure, some fleets might be tempted to put the burden of taxes on a company driver and send them 1099, but that route can only be traveled with specific conditions geared towards independent contractors.


Basically, treating a full-time employee as an independent contractor will just lead the IRS to your doorstep. And let’s face it, the IRS will come for their money one way or another! Might as well keep your filing legitimate and make things easy on your crew.


Truckers: Independent Contractor or Company Driver?

When you get right down to it, your status as an employee needs to be determined before you’re hired. There are specific guidelines from the IRS on contractors who receive 1099s, and you owe it to yourself to know your status.


It all comes down to how you work – if you’re an independent contractor, you will have to cover your end of government expenses, but you also have more choice in how you haul. Now, if you are an independent contractor (like a co-driver), you are probably used to the 1099 routine. We know it can take a while to get your returns straightened out, so we suggest e-filing a tax extension.


Okay, But How Can I Get W-2s and 1099s?

With employee status already established, all you have to do is file for the proper tax form. Now if you’ve used ExpressTruckTax before, you know we like our tax software fast and easy-to-use. That’s why we suggest you check out ExpressIRSForms for your 1099s and W2 forms. Designed by the makers of ExpressTruckTax, ExpressIRSForms is perfect for any sized company in need of W2 forms and 1099s. With postal mailing, bulk upload, and multiple users, your fleet’s IRS forms will be filed in no time. Not only that, but if you need to get a trucker’s EIN for 1099, they even offer free e-signing for Form W-9! You can also enjoy the same level of customer support you’ve come to expect from ExpressTruckTax.

Visit https://www.expressirsforms.com/w2-form-online/ to know more about filing W2 Form online.

Speaking of tax forms, larger fleets with over 50 full-time employees count as Applicable Large Employers, which means they need to file for Affordable Care Act (Obamacare) compliance. The good thing about ExpressIRSForms is that they also offer e-filing for Forms 1094 & 1095. You could say they’re kind of a one-stop shop for all your IRS tax forms!


If you have questions about 2290s and tax forms, contact our US-based support team by phone at 704.234.6005, email at support@expresstrucktax.com, and live chat at our website.



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Tuesday, April 15, 2014

If You Need More Time To File Your Income Taxes - E-file A Tax Extension

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The deadline to file your Personal/Individual Tax Return with the IRS is Today! If that deadline just came out of nowhere, don't worry there is a simple solution - e-file a tax extension. You can quickly extend your filing deadline for 6 months (to October 15) by e-filing IRS Form 4868 (personal tax extension) with our sister product - ExpressExtension.com.

ExpressExtension.com makes tax extensions easy with their simple and secure e-filing process. ExpressExtension is an IRS Authorized E-File Provider, serving the entire country. You can e-file Form 4868 in minutes and IRS confirmation is received immediately. With a streamlined design and user-friendly interface, ExpressExtension will walk you through each step of the process, and you can even e-file from any mobile device using their mobile site: m.expressextension.com 



What is needed to e-file a personal extension with ExpressExtension.com?
All you need to do is gather the personal data the IRS requires for you to e-file Form 4868, including: your name, address, & social security number. If you're married and filing jointly, you'll need the same information for your spouse. 

Who can e-file a tax extension?
Anyone can e-file a tax extension with the IRS, and you do not need to explain why. If you have any questions about e-filing a tax extension, all you have to do is call. Our US-based support team, located in Rock Hill, SC would be more than happy to assist, you can contact them via phone: 803.541.5155 or email: support@expressextension.com

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E-file your HVUT Form 2290 with ExpressTruckTax.