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IFTA fuel tax for truckers

Varies

Can You Write Off IFTA Fuel Tax for Truckers?

Short answer: Yes: IFTA fuel taxes paid by owner-operators are deductible business taxes.

Self-employed people deduct ordinary and necessary business costs on Schedule C, which lowers both income tax and the 15.3% self-employment tax.

Records to keep: Keep receipts, 1099s or W-2s, a mileage log, and a note of the business purpose. W-2 employees should ask about employer reimbursement.