Bookkeeping, payroll, and accounting services for small businesses across Northwest Arkansas.

Call or Text: (479) 685-9673

What deductions can owner-operators claim on taxes?

Your truck is your biggest deduction. Depreciation on the tractor and trailer, whether you take Section 179 to deduct it all in year one or spread it over several years, typically saves more than any other single item. Interest on truck loans is deductible too. If you finance equipment, you’re deducting both the depreciation and the interest payments.

Fuel is the most obvious ongoing expense and fully deductible. Save receipts or use a fuel card that tracks everything automatically. DEF fluid, oil, coolant, and other fluids count as well. Maintenance and repairs including tires, brakes, engine work, and preventive maintenance are all deductible when you pay them.

Per diem for meals is where many owner-operators leave money behind. When you’re away from your tax home overnight, you can deduct meals using the DOT per diem rate instead of tracking every receipt. The current rate is $69 per day for most areas. Even better, truckers get the DOT exception that allows 80% deductibility instead of the standard 50% that applies to most businesses. Over 200 days on the road, that adds up to real money.

Insurance premiums are deductible. Truck insurance, cargo insurance, liability coverage, and occupational accident insurance if you carry it. Health insurance premiums for yourself and your family can be deducted as a self-employed health insurance deduction, which comes off your adjusted gross income.

Operating costs that seem small individually add up over a year. Tolls, scale fees, parking fees, lumper fees, and permit costs are all deductible. IFTA taxes you pay quarterly, registration fees, and your CDL renewal count. Drug testing and DOT physical exams are deductible business expenses.

Communication and electronics keep you connected and compliant. Your cell phone bill for the business portion, ELD subscription, GPS service, and CB radio are deductible. If you use a tablet or laptop for load boards, dispatching, or tracking, those costs count too.

Sleeper berth expenses often get overlooked. Bedding, small appliances you use in the truck like a microwave or refrigerator, and supplies for living on the road are legitimate business expenses. You’re running a mobile operation and equipping that operation is deductible.

Trucking businesses have specific deductions that general accountants sometimes miss. Deadhead miles, bobtail insurance, trailer interchange coverage, and authority renewal fees all count. Association dues for OOIDA or similar organizations are deductible. Factoring fees if you use a factoring company come off your revenue.

Home office deduction applies if you have a dedicated space for administrative work. Dispatching yourself, managing paperwork, and handling the business side from home qualifies. The simplified method gives you $5 per square foot up to 300 square feet.

The deductions only work if you track them. Missing fuel receipts, forgotten tolls, and unlogged per diem days cost you at tax time. A bookkeeper for small business who understands trucking can set up systems that capture everything throughout the year instead of scrambling to reconstruct it in April.

Most owner-operators pay more in taxes than they should because they don’t track expenses consistently or don’t know what qualifies. The truck, the fuel, and per diem are obvious. The dozens of smaller deductions that add up to thousands over a year are where good recordkeeping makes the difference.

Northwest Arkansas's Dedicated Bookkeeping Partner

The Next Step:
A Quick Conversation

Tell us about your business and where you need help. We'll listen, ask a few questions, and give you a clear plan and honest price.

More Questions

Can I import my existing data into QuickBooks?

Yes, QuickBooks Online supports importing data from spreadsheets, other accounting software, and bank connections. The bigger question is whether your existing data is clean enough to be worth importing.

Read answer

How do I manage cash flow for a seasonal restaurant?

Build cash reserves during peak months to cover fixed costs in the slow season. Separate operating funds from tax savings and slow-season reserves, then track your cash position weekly instead of monthly.

Read answer

How do I set up payroll for my first employee?

Setting up payroll for your first employee requires an EIN, Arkansas state tax registration, unemployment insurance registration, and workers' comp coverage. Most small businesses use payroll software or outsource it entirely to avoid costly mistakes.

Read answer

How do I connect my bank account to QuickBooks?

In QuickBooks Online, go to Banking, click Link Account, search for your bank, and enter your login credentials. Once connected, transactions download automatically and you categorize them in your books.

Read answer

How do I set up invoicing in QuickBooks Online?

Customize your invoice template, set up your products and services list, configure payment terms, and enable online payments. Automatic reminders help with collections without manual follow-up.

Read answer

How do I handle seasonal income fluctuations in my books?

Track your revenue and expenses consistently each month so you can identify seasonal patterns over time. Use year-over-year comparisons rather than month-to-month, and build cash reserves during peak months to cover slow periods.

Read answer

Oliver Bookkeeping Solutions offers monthly bookkeeping, payroll, and accounting services to small businesses in Benton County and across Northwest Arkansas.

Client Reviews

5-Star Rated Firm

Social

  • QuickBooks Level 1 Certified badge
  • QuickBooks Level 2 Certified badge
  • QuickBooks Payroll Certified badge
  • Intuit Bookkeeping Certified badge

© 2026 Oliver Bookkeeping Solutions, LLC