The heavy vehicle use tax form 2290, to report the highway heavy motor vehicle use taxes are about to due this July and the last day to complete paying this HVUT taxes is August 31. This 2290 is a annual tax reported to the IRS on all heavy motor vehicles with taxable gross weight of 55,000 pounds or more operated on public highways. The mileage use limit for these heavy vehicles assigned at 5,000 miles and 7,500 for farm vehicles. You can claim an exemption on paying this HVUT taxes for vehicles operated well with-in this mileage use limit on public highways. Continue reading
Category Archives: Truckers world
Inter State Truckers, 2016 Third Quarter IFTA is due NOW!
It is quite normal to forget things that we do only few times a year, but the consequences of forgetting such things can be big. Remember the last time you forgot your spouse’s birthday or your wedding anniversary & the consequences faced. Alright, now wipe off that grin look on your face and keep reading to know about a fast approaching Tax deadline that can put you in a deeper trouble. Continue reading
Basics Of IFTA: Part-II
So filers, welcome back to TaxIFTA.com. Last week, we had posted the basics of IFTA Part –I. We hope and trust that all your queries you held upon IFTA are cleared. However, it is time to complete the next part of IFTA. Continue reading
Stay on Your Toes for IFTA Audits in Manitoba – Part- II
Hello IFTA filers, hope you’re pink of health. Sometime back, we had shared a blog post on “Stay on Your Toes for IFTA Audits in Manitoba – Part- I”, and today we would post the second half of the blog. We hope we are informative enough to keep your eyes glued to the screen.
The second list of questions is right below keep reading to know more. Continue reading
Different Kind Of Fuels Used By Motor Carriers In The States
Fuels are the lifeblood of transportation and vehicles moving across the world. Starting from motorbikes to trucks to airplanes nothing could have made it to their destination without fuels. Moreover, with the advancement in technology, we have been able to use both the natural and man-made resources for the smooth running of the vehicles. Reading this blog can help you gain further insight on the different types of fuel and their properties. Continue reading
Reveal the Significance of Fuel Records For IFTA Taxpayers
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Greetings from TaxIFTA.com, we’re delighted to have you as a part of our blog family. Our blog posts are dedicated to commercial truck drivers and today we would talk about fuel record management and its own set of requirements.
What is Fuel Records?
Fuel Records are records of the fuel purchased, received and used by the vehicle under the license of IFTA. With a variation of fuels available in the market, it is important to maintain a separate total for each fuel type.
Also, records for retail and bulk purchases should also be maintained separately. Continue reading
Interesting Differences between Gas Tax and Mileage Tax
Very warm welcome, truckers. We appreciate your gratitude towards our blog and thank you for dropping in every time we add a new blog post. Today, we will be discussing about gas tax, mileage tax and the differences between them. You might be well aware about the topic, but our tax experts decided to talk about it in detail, for your better understanding and simply to brush your knowledge. Continue reading
Fuel Alternatives for Diesel Trucks
Welcome back truckers, after a long break our tax experts have come up with a blog forTaxIFTA. Today, our blog post is dedicated to truckers driving diesel trucks. In this expensive world and growing rates of diesel with each passing day, it is very difficult for truckers to maintain their pace on the road with heavy pockets. We also discovered that truckers like you, are looking for alternatives to keep their engine running, healthy and safe. Continue reading
Specifications Dealing With Truck Trip & Fuel Permit
Welcome back to our blog truckers. We’re glad that we are able to serve you with information and our knowledge sharing sessions is going viral now. In our previous blog, we had shared Permits And Taxes to Establish Your Trucking Business and today we’re up with requirements dealing with truck and fuel permits. Interesting, isn’t it?
We all know, commercial carriers must register in their base jurisdiction and complete quarterly forms to comply with IFTA(International Fuel Tax Agreement). You as a trucker need to also track all miles and fuel purchases done in each jurisdiction and these states receives a reimbursement for the fuel taxes. These carriers also register an appointed tag in their base state for each state they travel through and the money is distributed in the states, paying the road use taxes.
However, not every time you have a registered note or an appointed tag, you need to own a temporary permit from the state to travel in it. So here are the requirements you need to remember to gain truck trip and fuel permit. Continue reading
Permits And Taxes to Establish Your Trucking Business
We all know licenses and permit requirements are endless in the trucking industry. Many of them deal with tax purpose, while for others are vital for the business operations across the state lines. As an owner operator, you need to hold on normal licenses as well as these additional permits for a secure establishment. However, if you fail to obtain these permits, your business world would surely face incur fine and delays, eventually reflecting your delivery deadlines. Obviously, due to improper credentials and paperwork, the delay takes place. But not any more! Keep reading to know what you got to do before you establish your business in trucking Continue reading