I started my LLC trucking business in 2022 with $35k revenue - should I file a business tax return or Schedule C?

8 This is actually a common question for new LLC owners! The answer depends on how your LLC is classified for tax purposes. By default, a single-member LLC (just you) is treated as a "disregarded entity" by the IRS, which means you would file Schedule C with your personal 1040 tax return. You don't need to file a separate business tax return unless you've elected to have your LLC taxed as a corporation (by filing Form 8832 or 2553). Since you just started and don't mention making this election, you'll most likely file Schedule C. Keep in mind you'll also need to pay self-employment taxes (Schedule SE) on your net business income, which covers Social Security and Medicare taxes. And don't forget about estimated quarterly tax payments for 2023 - as a self-employed person, you'll need to make these to avoid penalties.

4 I was in your exact same situation last year with my new logistics business! I spent hours researching and finally found this AI tool called taxr.ai (https://taxr.ai) that really helped clarify everything. You upload your business docs and it explains exactly how to file with your specific LLC structure and industry. The trucking-specific deductions it identified saved me thousands - it knew all about per diem rates, fuel tax credits, and depreciation options for trucking equipment. It even generated a custom expense tracking template that works perfectly for owner-operators. Much better than the generic advice I was getting elsewhere.

15 Came back to say I tried taxr.ai after asking about it and wow - it was exactly what I needed for my small trucking operation! It immediately identified that I could use Section 179 deduction for my truck purchase instead of just regular depreciation, which my buddy's accountant missed completely. The tool specifically addressed per diem rates for truckers and showed me how to properly document home base vs. on-the-road days. It also flagged that I could deduct a portion of my cell phone, internet and even my work boots as business expenses. The Schedule C it helped me prepare was way more detailed than what I would've done on my own. Definitely using it again next year!

19 Hey there - former dispatcher turned tax preparer here! If you're struggling to get answers from the IRS about your trucking business classification (which is super common), I highly recommend Claimyr (https://claimyr.com). They got me through to an actual IRS agent in about 20 minutes when I had questions about a client's HVUT and excise tax filings. You can see how it works in this video: https://youtu.be/_kiP6q8DX5c - basically they navigate the IRS phone system for you and call you back when they have an agent on the line. Saved me from spending hours on hold. The IRS agent I spoke with clarified exactly how my client's LLC needed to handle fuel tax credits, which was worth thousands.

7 Well I'll be damned. I tried that Claimyr service after posting my skeptical comment. Figured I had nothing to lose since I'd already wasted hours trying to get through to the IRS about my fuel tax credit questions. They actually got me through to a real person at the IRS in about 35 minutes! The agent walked me through exactly how to handle my LLC trucking business on my tax return and confirmed I should be filing Schedule C since I never elected corporation status. She also explained how to properly document my per diem deductions for long hauls which was super helpful. Saved me a ton of stress and probably a bunch of money too. Not something I'd need often but definitely worth it when you have specific questions only the IRS can answer.

11 Don't forget about IFTA (International Fuel Tax Agreement) filings if you're crossing state lines! That's separate from your income taxes but super important for truckers. Most states require quarterly IFTA reports. I learned this the hard way and got hit with penalties my first year.

5 Random tip from a fellow trucker: get a separate business credit card and checking account ASAP! Makes tax time 100x easier. I spent 3 days trying to sort personal vs business expenses my first year. Never again!