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1st year as a sob contractor

Discussion in 'Business Fundamentals' started by mike13, Jan 3, 2012.

  1. mike13

    mike13 Member
    from mass
    Messages: 49

    last year was my 1st year as a sub contractor for my town. an i was wondering what i can claim on taxes. i made just under 4k for the town. i know i have to pay in but was looking for a small list of what i can claim. Can i claim part of the ins even if my plow truck is my everyday driver?
    or is there a list or a link that i can be made aware of
  2. Grassman09

    Grassman09 2000 Club Member
    Messages: 2,806

    You might want to fix the title of your thread. I'm sure most know what you mean thou. It is funny thou a SOB contractor. LOL Some contractors are SOBS...
  3. JDiepstra

    JDiepstra PlowSite.com Addict
    Messages: 1,780

    Yikies, I can see you are not getting much help here. Probably cause most of us are not tax advisors. In general, you can deduct your expenses. Cost of truck or depreciation, Fuel, tires, plow, uniform (boots, pants, jacket, gloves etc), cell phone if you used it on the job, strobe light, car wash, etc. Anything that cost you money to get the job done. Since it is your daily driver you may only be able to claim a certain % of the total expenses, which is why I would suggest talking to a tax advisor. Or even getting the business turbo tax. Is your business set up as a sole proprietor or llc or anything?
  4. jklawn&Plow

    jklawn&Plow Senior Member
    Messages: 469

    You need to write down your mileage at the beginning of the year and keep track of work miles. If you go to the store for work supplies you can count these as work miles only if you only buy work stuff . Any expenses for the truck are added up and multiplied by the % of work miles to total miles or you can deduct the standard rate of 51 cents per mile or watever it is for the particular year- listed in the depreciation Pub fed web site. For depreciation you need to read the depreciation pub several times or get someone who knows it (professional). Here are some docs I produced to help me at the end of each year.

    Attached Files:

  5. mike13

    mike13 Member
    from mass
    Messages: 49

    i kept track of my mileage as soon as i got the call from the town barn to the time i got released. but never thought about keeping track of mileage to the parts store ill have to keep track of that as well. great docs by the way.. i am going to talk to a pro soon .
  6. mike13

    mike13 Member
    from mass
    Messages: 49

    an yes im a sole proprietor.
  7. Herm Witte

    Herm Witte Senior Member
    Messages: 546

    Pay a professional for help here. Money well spent.
  8. kg26

    kg26 Senior Member
    Messages: 300

    If you are claiming the miles your can not claim tire expenses.