O'CONNOR, WELLS & VANDER WERFF, LLC
2016TRUCKING BUSINESS TAX WORKSHEET
Business NameEmployer ID Number -
AddressIs this a new business in 2016? Yes____No____
Main ActivityProductAccounting Method: Cash-Basis_____ Accrual-Basis_____
Filing 1099 Forms: Did you make payments that require filing 1099 Forms? Yes____ No____ If yes, will 1099 Forms be filed? Yes____ No____
Tax Elections: 1) De Minimis Safe Harbor: Yes____No____ 2) Small Taxpayer: Yes____No____ Building
A.INCOMEGross Revenue Received, Including Amounts Reported on Form 1099-MISC$
Other Business Income (List):______$
TOTAL INCOME...... $
B.EXPENSES (Identify any interest or rent paid to a related-party individual or entity)
Advertising...... $
Auto Expense using the standard mileage rate:
Total miles______- personal______= business______x 54¢ =..$
Contract Hauling (See Note 2 Below)...... $
Employee Benefit Programs (Include Section 105 Medical)...... $
Insurance (Business & Trucks)...... $
Interest Paid (See Note 2 Below)[ a ] Mortgage Interest Paid to Banks, etc...$
[ b ] Other Interest Paid...... $
Legal, Accounting, and Professional Services (See Note 2 Below)...... $
Office Supplies and Postage...... $
Pension and Profit-Sharing Plans...... $
Rent or Lease (See Note 2 Below)[ a ] Vehicles, Machinery, and Equipment..$
[ b ] Other Business Property...... $
Repairs and Maintenance...... $
Supplies...... $
Taxes and Licenses:Licenses and Permits...... $
Business Real Estate Tax...... $
Personal Property Tax...... $
Fuel Taxes Paid...... $
FICA Tax (Employer's Share).....$
Unemployment Taxes...... $
Other (List):______$
Total Taxes and Licenses...... $
Travel (IRS requires a permanent log)...... $
Utilities, Telephone and Internet Fees...... $
Wages (See Note 1 Below)...... $
Bank Charges...... $
Dues and Publications...... $
Fuel, Gas, and Oil...... $
Tolls Paid...... $
Meals & Lodgingare tax deductible only if you are away from home for a "period longer than
an ordinaryday's work that requires sleep." If you kept records of your expenses, then claim the
greater of: 1. Actual Expenses while on overnight trips:
Meals (Limits involved)...... $
Lodging...... $
Other...... $
or:2. Per Diem Allowance:
_____ # of full days away from home @ $63 x 80%$
_____ # of partial days @ $63 x 75% x 80%$$
Other (List): $
$
$
$
Total Expenses Before Depreciation...... $
Depreciation...... (please leave blank)$
Total Expenses Including Depreciation...... $
Expenses for Business Use of Home (please leave blank)$
Net Income =
SALES OF BUSINESS ASSETS:Please indicate (*) for sales to related parties.
Item Sold Date Bought Date Sold Sales Price Cost A / D G / L
$$$$
$$$$
ASSETS PURCHASED:Please indicate (*) assets purchased from related parties. Cost, if no trade,
Description of Item PurchasedNew/Used Date Boughtor Cash Boot Paid Description of Item Traded
$
$
$
$
$
$
$
Wisconsin Only: Subtraction for 20% Depreciation Basis Adj. $
(1) If you paid employees, see the attached worksheet and the January 31, 2017 deadline for filing Forms W-2, 941, 944 andother reports.
(2) Please see the attached worksheet for 1099 Forms filing requirements and the January 31, 2017 deadline.