Trucking Company Tax Deductions Every Owner Should Know

Trucking Tax Overview

With average margins of just 5%, trucking companies must maximize every deduction. Fuel, vehicle depreciation, and per diem are the biggest opportunities.

Per Diem Deduction

Owner-operators can deduct $69/day for meals while away from home (80% deductible for transportation workers, vs the standard 50%). For 300 days on the road, that is $16,560 in deductions.

Fuel Tax Credits

The federal fuel tax credit covers excise tax on fuel used in certain off-highway activities. Heavy highway vehicle use tax (Form 2290) is $550 per vehicle.

See trucking tax estimates by state.