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