Per diem, fuel, DOT fees, and truck maintenance — the deductions that put thousands back in owner-operator pockets every year.
Owner-operators have some of the most powerful deductions in the tax code. Per diem is the biggest.
$80/day (80% deductible) when away from home overnight on business. 200 days = $12,800 deduction = ~$3,520 in tax savings.
Fuel, oil, tires, and routine maintenance — the actual cost of running your truck.
Section 179 or bonus depreciation allows you to deduct the cost of your truck in the year of purchase.
Liability, cargo, and physical damage insurance for your truck — 100% deductible.
DOT physical, CDL fees, and required medical certifications.
IFTA, IRP, state permits, and operating authority fees.
Keeping your truck clean for compliance inspections — 100% business expense.
Scale fees paid to stay compliant with weight regulations.
CB radio, satellite systems, and any communication equipment used for work.
IFTA tax preparation, bookkeeping services, and accountant fees for your trucking business.
Per diem is the largest missed deduction for owner-operators. At $80/day and 200 days on the road, that is $16,000 in deductions before the 80% limit.
IFTA fees and fuel taxes paid in other states are deductible. Keep detailed fuel purchase records by state.
Section 179 lets you deduct the full truck cost in year one. Bonus depreciation may also apply. Consult a CPA for the best strategy.
Use a business account for all truck-related expenses. Mixing funds makes deductions hard to prove.
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The IRS per diem rate for transportation workers is $80 per day away from home. You can deduct 80% of this amount, or $64 per day.
Not the full payment — you deduct the business-use percentage of actual expenses or use Section 179/bonus depreciation on the purchase price.
IFTA (International Fuel Tax Agreement) is a fuel tax reporting system. IFTA taxes paid are a deductible business expense. Keep all fuel receipts by state.
Yes. Owner-operators must pay quarterly estimated taxes if they expect to owe $1,000+. Deadlines: Apr 15, Jun 16, Sep 15, Jan 15.
Yes — CDL fees, renewals, and DOT medicals required for your job are deductible professional expenses.
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