Test Your Trucker Tax IQ
Please note that all fields followed by an asterisk must be filled in.
First Name*
First Name*
Last Name*
Last Name*
E-mail Address*
E-mail Address*
Street Address*
Street Address*
City*
City*
State/Prov*
State/Prov*
Zip/Postal Code*
Zip/Postal Code*
Home Phone
Business Phone
What is the current per diem rate?
59
52
51
32
Deadhead miles are deductible
True
False
How long do I have to keep my receipts?
3 years
7 years
10 years
Which is true for a deduction for business-related gifts?
Gift deductions are unlimited
There is a total limitation of $1000 per year
There is a $25 limit per person
Technically, you aren't required to keep a receipt for travel-related purchases under $_____
$65
$25
$75
If you are married and file separately and your spouse itemizes, which applies to your return?
You can either itemize or take the standard deduction
You must itemize
You must take the standard deduction
What is the current percentage for meals for truckers?
75%
50%
80%
If a taxpayer hasn't filed their 2003 return and the IRS filed for them, which applies?
It's too late, there is nothing they can do
They can file the actual return to replace the IRS return
They have to request a meeting with the IRS
If a taxpayer needs to file a return, but has lost their receipts in a fire, which applies?
They must file the return and not include the expenses
They must file the return, but can only deduct half of the expenses
They must file the return and can estimate the expenses
Which expense is most likely under-reported by truckers?
Fuel
Truck supplies
Cell phone
Anyone who prepares taxes can prepare a trucker return
True
False
How should a truck under a lease purchase should be treated?
Depreciated over a period of time
Lease payments deducted
Depends on the terms of the lease
The company I drove for didn't send me a 1099 so I don't have to include the money I earned in my income
True
False
If required to make estimated payments, which applies?
It doesn't matter when I send them
I should send them on time every quarter
I shoudn't send them at all
How long do I have to file my return and get my refund?
3 years
2 years
5 years
I owe $5,500 to the IRS on my return I just filed, but I can't afford to pay. I should...
Just not file the return
File the return and set up a payment plan
File the return, the IRS will automatically set me up on a payment plan if I owe less than $25,000
Please enter the word that you see below.
