Great question! Side gigs like selling goods online, delivering food, or starting a ridesharing business are common ways people earn extra money. If you have a side gig where you earn income, you’re required to report that income. The question then becomes, is my side gig a hobby, or am I operating my side gig as [...]
Yes, per diem works very differently depending on whether you’re an owner-operator (independent contractor) or a company driver (W-2 employee). Understanding this distinction is critical, because using per diem the wrong way can lead to missed deductions or tax issues. Per Diem for Owner-Operators and Independent Contractors If you are self-employed, per diem is generally taken [...]
As a truck driver, saving for retirement can feel challenging, especially if you're self-employed or an independent contractor. However, there are several tax-advantaged retirement accounts that can help you save while reducing your tax bill. Here’s a quick guide to the best options for truck drivers. Why Retirement Planning Matters for Truck Drivers Unlike traditional employees [...]
