How Do I Write Off My Trucking Equipment?
If you’re an owner-operator or starting your own trucking business, learning how to properly write off your trucking equipment is one of the most important steps in managing your finances. A smart tax strategy can save you thousands of dollars over time—and it all starts with knowing how depreciation works.
I’ve bought and sold over 30 trucks during my career, and I’ve made my fair share of bookkeeping mistakes. Here’s what I’ve learned, and how you can avoid those same pitfalls.
Track Purchases and Depreciate Over Time
When you buy a truck or trailer, the IRS considers it a business asset—not a regular expense. That means you’ll need to depreciate the cost over several years, instead of deducting it all at once.
Here’s a simple example:
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A $50,000 truck depreciated over 5 years = $10,000/year
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A $25,000 trailer = $5,000/year
This method helps spread out the tax benefits over time and keeps your business on solid financial ground.
When Should You Use Section 179?
Section 179 allows you to deduct the full cost of qualifying equipment in the first year. While this may seem appealing, it’s not always the right move—especially for new businesses that have a lot of initial expenses. For many new trucking companies, gradual depreciation is a smarter and more manageable approach.
Stay Consistent with Bookkeeping
If you’re trying to keep costs low, I highly recommend handling your own books with QuickBooks—at least until your business grows. Weekly updates will help you monitor cash flow, track trucking equipment expenses, and stay ahead of tax deadlines.
📌 Final Thoughts
Writing off trucking equipment doesn’t have to be complicated. Stay organized, update your records regularly, and talk with a CPA who understands the trucking industry. With the right system in place, your equipment becomes a powerful tool not just on the road—but on your balance sheet, too.
