NAICS code: 562000
As a mover and hauler, you know that if you are going to move large amounts of stuff, you need to keep a sense of balance. There are many times when movers do their taxes, but they fail to take the balance into account when they do so.
This is why we have simplified the process for you so that it’s easier for you. The most effective way to reduce your tax bill for movers and haulers is to take advantage of the write-offs that are most suitable for them, so you can fit even more earnings into your budget. In the end, why would you want to move more money to the IRS than is absolutely necessary? Make sure you lift all those extra savings with your legs, not with your back when you lift all those extra savings!
We have put together a list of the most common write-offs for moving and hauling companies that you can use to deduct your expenses.
Productivity softwareWrite it off using: Schedule C, Box 18
Invoicing software, expense tracking software, timesheet software, and so on are deductible expenses.
Apps for productivityWrite it off using: Schedule C, Box 27a
The deduction applies to any work-related app, including navigation apps and tax software.
AdvertisingWrite it off using: Schedule C, Box 8
Expenses incurred for online and print advertising are considered write-offs for your business.
Website & hosting feesWrite it off using: Schedule C, Box 8
A website service fee paid to Squarespace, Wix, GoDaddy, or any other website service provider is fully deductible.
Protective gearWrite it off using: Schedule C, Box 27a
If you wear protective gear while performing electrical work, such as goggles and gloves, you can write it off.
Moving truck or vanWrite it off using: Schedule C, Box 13
You wouldn’t be capable to do your job without a moving vehicle. Taking depreciation into account on your tax return is an option if you own your truck or van.
Transporting equipmentWrite it off using: Schedule C, Box 22
From hand trucks to straps, Uline has it all. In this case, you are allowed to deduct these tools and supplies since they are necessary for your job.
- Repairs of equipment
Write it off using: Schedule C, Box 21
If you need to perform maintenance or repairs on your equipment, you will be fully deductible for those costs.
Insurance for moversWrite it off using: Schedule C, Box 15
In order to protect your business, and yourself, you need to purchase cargo insurance, full-value coverage, and released value coverage. Those expenses can be deducted.
Wages of employeesWrite it off using: Schedule C, Box 26
Does your business pay its employees on W-2 forms? It is a write-off of their wages.
Employee benefitsWrite it off using: Schedule C, Box 14
Employees require health insurance and other benefits, so you’ll spend money on them. This is a tax deduction that you can take advantage of.
- Assisting contractors
Write it off using: Schedule C, Box 11
Tax deductions are available for freelancers, contractors, and other business services that you use to run your business.
Parking
Tolls
Car purchase & depreciation
Car insurance & registration
Car maintenance
Transportation
Travel lodging
Meals while traveling
Home office furniture
Property repairs
Power bill
Property insurance
Water bill
