How to Learn Trucking Tax Preparation
- 1). Consult a major tax preparation service. Companies like Jackson Hewitt and H&R Block offer tax preparation courses for a small fee. The courses are used to train potential employees as well, so all areas of tax accounting for individuals and small business are covered. The classes usually begin in the fall to ensure that you are ready in time for tax season.
- 2). Buy software with tutorials. Turbo Tax is one of many major tax accounting software providers that also offer a tutorial. There are also software designed specifically for the trucking industry like Prophesy and Transportation Solutions. This software helps with tax accounting throughout the year. Both help organize information so that tax preparation goes smoothly.
- 3). Go to the IRS website. It has firsthand information on everything you need to know before, during and after preparing your taxes for your trucking business. The site contains helpful tips for tax preparers as well as the most up-to-date rules and regulations for the tax year.
- 4). Enroll in a tax preparation course at the local technical college. The courses may cost a few hundred dollars, but you will leave with a thorough knowledge of the trucking tax accounting system. The classes are all accredited and taught by professionals in the business who can answer all of your questions. You need to take a prerequisite beginning accounting course, but this too is very beneficial to business owners.
- 5). Buy a trucking tax preparation book. There are several available. However, unlike the options listed in the above steps, you will be completely unassisted when using a book to prepare your taxes. If you are already somewhat knowledgeable in trucking tax preparation, this may be the option for you. It is the least expensive option, especially if you use your local library. It will allow you to work at your own pace, in your own space, while learning your own methods for tax preparation.
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