Guide

Owner-operator truck driver tax deductions

As an owner-operator, almost every dollar you spend to keep the truck running is a legitimate business expense — and every expense you can document lowers your taxable income. Here are the deductions truck drivers most commonly claim. Keep receipts for all of them, and confirm the specifics with a tax professional who knows trucking.

Common owner-operator deductions

• •Fuel — usually your single largest write-off
• •Maintenance, repairs, and tires
• •Insurance — liability, physical damage, cargo, occupational
• •Truck payment interest or lease and depreciation
• •Permits, licensing, and heavy-vehicle use tax
• •Tolls, scales, and parking
• •ELD, load board, and phone subscriptions
• •Association dues, accounting, and bank fees
• •Work supplies — straps, chains, gloves, tools, logbooks

The per diem (meals on the road)

Drivers subject to hours-of-service rules can usually claim a per-diem deduction for meals and incidentals on every day they're away from home overnight. It adds up fast over a year, so track your nights out — a simple count of days on the road is often all you need.

The catch: you need records

A deduction you can't prove is a deduction you can lose in an audit. The drivers who keep the most are simply the ones who log every expense as it happens instead of guessing in April. Our guide on how to keep track of trucking receipts lays out a system that takes seconds a day.

This is general information, not tax advice — rules change and your situation is unique. Work with a qualified tax professional before filing.