• 47: How to Save Money on Your Taxes as an Owner Operator

  • Feb 24 2021
  • Length: 1 hr and 8 mins
  • Podcast
  • 5.0 out of 5 stars (1 rating)
47: How to Save Money on Your Taxes as an Owner Operator  By  cover art

47: How to Save Money on Your Taxes as an Owner Operator

  • Summary

  • On this week’s edition of The Oakley Podcast, host Jeremy Kellett is joined by Jeff Amen and Michael Schneider, the vice president and tax manager, respectively, at ATBS, a tax and accounting firm for owner-operator truck drivers. Together they cover a lot of ground related to preparing taxes for 2020, knowing how to avoid tax surprises, and how to maximize deductions. 

    Key topics in today’s conversation include:

    • Need to Know with Vickie Chastain: celebrating owner-operators reaching 1,000,000 safe miles (1:58)
    • Background on ATBS (3:58)
    • Understanding how the PPP loans impact our owner-operators (9:25)
    • What should first-time owner-operators expect when taxes are due? (23:00)
    • Depreciation formulas (29:44)
    • Updates for the 2020 tax year (41:28)
    • Ordinary and necessary day-to-day deductions (49:20)
    • What ATBS offers its clients, including audit protection (54:33)

    Thank you Jeff and Michael for explaining the ins-and-outs of managing taxes. 

    Oakley Trucking is a family-owned and operated trucking company headquartered in North Little Rock, Arkansas. For more information, check out our show website: podcast.bruceoakley.com

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