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YourPaperRoute.com
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Paper Routes and Taxes

How much tax will I have to pay for my paper route? I hear many carriers asking this question. What makes me cringe is the time I hear them ask the question ... TAX TIME!

The best time to plan your tax strategy for your paper route is NOW! Do not wait until you are filling out your taxes next year to wonder how you want to do your taxes related to your paper route. If you wait until next year, you have waited too late and are probably missing a number of items that could have helped you lower your tax bill (or tax burden).

A few tips for reducing your tax bill for your paper route:
1. Keep ALL of your paper route vehicle receipts
- Gas
- Maintenance
2. Keep ALL of your supply receipts
- Rubber bands
- Paper route bags
3. Log ALL of your mileage for your paper route vehicle
4. Some distributors charge you for missed deliveries separately. You should chalk this up as an operating expense! The 1099 they send you will have ALL of your earnings. Be sure to keep up with anything they charge you that cuts into your earnings and use it as an expense.

These are just a few tips for planning for next year's taxes. With fuel and mileage, I did not owe anything extra this year! Plan ahead and you should be in the same boat!

Good Luck!

Comments

The paper routes and taxes

The paper routes and taxes wonder how you want to do your taxes related to your paper route. Click here,essay help online uk for more updates on distributors charge you for missed deliveries separately and tax bill for your paper route.

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Can I write off on my taxes

Can I write off on my taxes the money that I pay my helpers? I pay mine cash but I have never written it off before.

That way all the expenses

That way all the expenses will be 100% for the dedicated vehicle. You win on the front end because it doesn't cost much to operate a small gas saver.

Keep oil changes, mileage

Keep oil changes, mileage (paper route mileage should be kept separate from personal mileage), tires, vehicle registration, etc. Keep EVERY receipt related to your vehicle as it can be a write off. It is even better if you can find you a small, gas sipping vehicle to dedicate to the paper route. That way all the expenses will be 100% for the dedicated vehicle. You win on the front end because it doesn't cost much to operate a small gas saver. You win on the backend due to the mileage and expenses being write offs at tax time.

Good stuff! I write off my

Good stuff!

I write off my expenses for bags, rubber bands, the bag used to carry all the papers and the basket I bought to put on my bike to hold the papers! You need to keep EVERY receipt for anything you purchase related to your paper route.