What is this service?
We prepare the federal income tax return for your trucking business. The form depends on how your business is classified with the IRS:
- Schedule C, with your personal return, if you work for yourself or have a single-owner LLC.
- Form 1065, if it is a partnership or a multi-owner LLC classified as a partnership.
- Form 1120, if it is a C corporation.
- Form 1120-S, if it is a corporation with an S election in effect.
We confirm which form applies before we begin.
Who may need it?
- Independent truck drivers who receive 1099 forms for their work.
- Owner-operators with their own truck, with their own authority or leased on to a carrier.
- Trucking companies organized as an LLC, partnership, or corporation.
See “Form 1065 — Partnerships and LLCs”
Trucking income, expenses, and deductions
Income
- Load payments and settlements from the companies you worked with.
- 1099 forms received (for example, 1099-NEC or 1099-K).
Expenses that are usually reviewed
- Fuel, repairs, maintenance, and tires.
- Truck and business insurance.
- Loan interest and depreciation for the truck and trailer, or lease payments.
- Tolls, scales, parking, and truck washes.
- Business licenses, permits, and fees.
- Phone, ELD, and other services you use for work.
Meals on the road
- In general, only 50% of business meals can be deducted.
- If you are subject to the Department of Transportation's hours of service limits (like long-haul truck drivers), the IRS allows you to deduct 80%.
- Transportation workers can use a daily standard meal allowance instead of keeping each meal receipt, but they must keep a record of the dates, places, and business purpose of each trip.
Only business expenses you can prove are deducted. Keep your receipts and records: we need them to prepare the return.
What documents may you need?
- 1099 forms received (for example, 1099-NEC or 1099-K).
- Settlements or pay reports from the companies you worked with.
- Business bank statements.
- Receipts for fuel, repairs, tires, and maintenance.
- Truck insurance policies and payments.
- Purchase, loan, or lease documents for the truck and trailer.
- A record of your travel days away from home.
- Last year's return, if you have it.
Please do not send Social Security numbers, full EINs, or documents through the form on this page. After you request the service, we will email you the questionnaire and the list of documents.
How does our service work?
- Request the service.Fill out the form on this page.
- Receive the questionnaire.We email you a questionnaire in Spanish and the list of documents.
- Send your information.Send back the questionnaire with your 1099s, settlements, receipts, and records for the year.
- We prepare your return.We confirm the right form, review your income and expenses, and explain the result.
- Review and approval.You review and approve the return before it is filed.
Costs
Our fees
Payments to the IRS
The IRS does not charge to file a return. If there is a balance due, that payment goes directly to the IRS and is not part of our fees.
Frequently asked questions
Which form applies to me?
It depends on how your business is classified: Schedule C if you work for yourself or have a single-owner LLC, 1065 for a partnership, 1120 for a C corporation, and 1120-S with an S election in effect. We confirm it with you.
Can I deduct my meals on the road?
In general, only 50% of business meals can be deducted. If you are subject to the Department of Transportation's hours of service limits (like long-haul truck drivers), the IRS allows you to deduct 80%, according to Publication 463. You need a record of your trips.
Do I have to keep receipts?
Yes. Keep your receipts, settlements, and travel log. If you use the standard meal allowance, you still must be able to show the dates, places, and business purpose of each trip.
Do you prepare Form 2290 or IFTA reports here?
No. This service is only for income taxes. Form 2290 and IFTA are offered by DOT Truck Services.
Official sources
Need to file Form 2290 or your IFTA reports? Visit www.dottruckservices.com (opens in a new tab)
Ge Chanfon Services LLC provides document preparation and administrative assistance services. We are not a law firm and do not provide legal advice. Approval of any application is decided by the appropriate government agency.