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6 Tax Tips for Independent & Leased Owner Operator Truck Drivers

Lawler & Witkowski CPA’s are Independent & Leased Owner Operator Tax Experts. We’ve been helping hard working drivers from all across the country for over 45 years, and if you have a tax problem or need help with tax preparation give us a call at (716) 631-5111 or click here to send us a message.

Tip #1

You may qualify for up to a 20% deduction from your taxable income if your business is organized as a S Corporation, partnership, LLC, or sole proprietorship. Sorry, a C Corporation does not qualify for this new deduction.

Tip #2

New for the 2018 tax year, the like kind exchange option for trading in personal assets (tractors, trailers, pickups) is no longer available, so any gain on the disposal of these types of assets has to be reported and recognized on your tax return in the year of disposal. But don’t worry, this means you get the full basis for depreciation deductions for any new purchases going forward.

Tip #3

Pay your estimated taxes to the IRS and state only when you get paid so you will have the money available. Just because the tax authorities require at least quarterly payments, does not mean you cannot pay the taxes on a more frequent schedule. Paying the tax when you can will help you stay out of trouble with the IRS, because you never know if you’ll have the money when the payment is due. We can help you set this up!

Tip #4

Set up a retirement account for your business entity, whether it be a SEP IRA, Simple IRA, or 401(k). Pay yourself first before paying the IRS and state.

Tip #5

If you are organized as a sole proprietor or LLC and you are paying your own health insurance premiums, consider adding your spouse as an employee, so you can take a 100% deduction of your health insurance on Schedule C that will reduce your net income that is subject to self-employment tax.

Tip #6

If you ever have any issues with the IRS, don’t take them on by yourself! You wouldn’t go to court without an attorney, don’t try to represent yourself to the IRS. We represent hardworking Americans across the country that have fallen on hard times or simply made a mistake filing taxes. We understand that it doesn’t take much for paying taxes to fall way down on the priority list, but if you have a tax problem, and are ready to take care of it, give us a call or fill out the form below! You can also click here to read about common tax problems and how to solve them.


Lawler & Witkowski CPA’s are nationally recognized tax resolution experts with offices in Buffalo, NY and Dallas, TX. We specialize in getting hardworking Americans back on track with the IRS, and we guarantee that once you start working with us you’ll sleep better at night! Learn more about our small, highly effective, team by clicking here.


Have a tax problem or need help with tax preparation or bookkeeping? Send us a message and we’ll be in touch as soon as possible!

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    “Dear Mr. John Witkowski,

    I am very thankful for all your hard work and due diligence in putting together my offer in compromise. Without your keen attention to detail I don’t think I would ever have been relieved from the income tax burden that perpetually caused me distress and anxiety.

    You have truly done the “pennies on the dollar” transaction, and I couldn’t have done it without your great expertise! I will be certain to pass your name on to anyone I meet that is in need of your services…and I can never thank you enough.”

    John T. - Buffalo, NY