Fleet Accountant

FuelAccountant

New Member
I am a 34 year-old fleet accountant in the Phoenix area and I run my own fleet compliance business. I joined the forum because I am a fan of all things trucking. I write fleet compliance manuals and I also assist various industries with IFTA, IRP, titles, registrations, fuel and mileage tax returns and fuel refunds. If you have questions or need assistance with tax or accounting issues as they pertain to the transportation industry I'm pretty solid on my understanding of the industry. Perhaps I can help.
 
Hi DubbleD:

In answer to your questions, since the US has a progressive tax system and not a flat tax system I believe one can only theorize what deductions for the owner operators would change or go away. A flat tax proposal is not fully defined until it differentiates deductible and non-deductible expenses. Deductions dramatically affect the effective "flatness" in the tax rate. Perhaps the single biggest necessary deduction is for business expenses. If businesses were not allowed to deduct expenses then businesses with a profit margin below the flat tax rate could never earn any money since the tax on revenues would always exceed the earnings. One thing is certain though, all businesses would be taxed at one rate on gross receipts minus all outlays -- everything from wages to the purchase of new equipment. My thought on this matter is that under a flat tax scenerio, most deductions would not go away but the amounts you would be able to deduct under a progressive system would change. I hope this answers your question.

- Justin
 
It does and thank you.

So currently and going forward we are all getting assistance from the gov't to subsidize our businesses, burgeoning the system with more and more loop holes to fill our coffers.

Fair assessment?
 
It does and thank you.

So currently and going forward we are all getting assistance from the gov't to subsidize our businesses, burgeoning the system with more and more loop holes to fill our coffers.

Fair assessment?

A tax write-off or deduction is not "assistance". Letting you keep something that's yours is not "assistance" unless you have a sheep's view of reality. It's simply a schoolyard bully deciding not to steal your lunch money that day.

A subsidy would be considered "assistance". Tax breaks are not.
 
A tax write-off or deduction is not "assistance". Letting you keep something that's yours is not "assistance" unless you have a sheep's view of reality. It's simply a schoolyard bully deciding not to steal your lunch money that day.

A subsidy would be considered "assistance". Tax breaks are not.


um.... yeah. "Out of pocket" that's returned to me by the gov't at the end of the year, in my book IS subsidizing, assistance, kickback......

callitwhatyouwant.
 
um.... yeah. "Out of pocket" that's returned to me by the gov't at the end of the year, in my book IS subsidizing, assistance, kickback......

callitwhatyouwant.

Money stolen from you, and then returned, is called "restitution". Not a "bonus" or a "handout". It's YOUR money.

It's amazing how the government has people convinced that their tax return is a "gift" from the government.
 
Money stolen from you, and then returned, is called "restitution". Not a "bonus" or a "handout". It's YOUR money.

It's amazing how the government has people convinced that their tax return is a "gift" from the government.


I don't consider this a gift at all.

I'm amazed at the brilliant folk that believe paying more in than is necessary is the only way they can save money.

Fuel, repairs, Hotel/Motel stays etc all require payment at the time I use them......(of course it never occurred to me to ask if I could pay these bills when I get my tax refund.....WTF)
 

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