Author Archives: Peter Samuels

Hurry, Just 3 Days To Go For 2290 Due Date

Everything these days come with an expiry date, so does our tax season for the year 2015-16. With only 3 more days in hand to compete our tax filings, taxpayers this shall be the last call for people who are yet to file with their tax return IRS form 2290 online via Tax2290.com.

Intro To Heavy Vehicle Used Tax:

Heavy Vehicle Used Tax is an annual fee collected by IRS for the heavy motor vehicles that operate on the public highway with the registered gross weight of 55,000 pounds and more. Since form 2290 supports various other types of vehicles apart from heavy vehicles, you need to know your exact Taxable Gross weight of the vehicle. If you are wondering, how you can analyze the TGW, keep reading. We found out the formula. Continue reading

Facing Tax Trauma While Tax Calculations? Read through!

Hello truckers, welcome back to our blog. Today we are going to speak about tax calculations. We know how difficult it is to keep a track on the receipts, the payment and of course, the due date. However, if a truck weighs more than 55,000 pounds and drives more than 5,000 miles in a taxable year, they are liable to pay taxes. These vehicles are categorized as taxable vehicles.

Below is the table for your better understanding:

 

 

Annual Tax (Vehicles Used During July)

Category

Taxable Gross Weight

Vehicles Except for Logging

Logging Vehicles

A

55,000

$ 100.00

$ 75.00

B

55,001-56,000

122.00

91.50

C

56,001-57,000

144.00

108.00

D

57,001-58,000

166.00

124.50

E

58,001-59,000

188.00

141.00

F

59,001-60,000

210.00

157.50

G

60,001-61,000

232.00

174.00

H

61,001-62,000

254.00

190.50

I

62,001-63,000

276.00

207.00

J

63,001-64,000

298.00

223.50

K

64,001-65,000

320.00

240.00

L

65,001-66,000

342.00

256.50

M

66,001-67,000

364.00

273.00

N

67,001-68,000

386.00

289.50

O

68,001-69,000

408.00

306.00

P

69,001-70,000

430.00

322.50

Q

70,001-71,000

452.00

339.00

R

71,001-72,000

474.00

355.50

S

72-001-73,000

496.00

372.00

T

73,001-74,000

518.00

388.50

U

74,001-75,000

540.00

405.00

V

Over 75,000

550.00

412.50

How do I file taxes:

First, you need to classify your vehicle based upon the category mentioned in the tabular column. If you are filing prorated taxes for your vehicle, then you need to calculate for the months your filing. Say, if April you took your vehicle on the highway for the first time, this May 31st is the last date to file your return depending upon the taxable weight. If your vehicle used only for logging and other forestry purpose, the tax rate would differ.

Now the question is which is easiest method to file your HVUT? Well, there are two major methods to file form 2290. One is the traditional method, paper filing. This consumes lot of time and energy, involving calculations to be done by t things are supposed to be done manually. It also provides you room with errors. If one error is found in your form, IRS would reject your return. So when you are opting for paper filing, ensure you are too good at math.

However, we have another option for you. May be this would work easy for you. Efiling is the method that can put you at ease. Here, there is nothing done manually. You have to register with Tax2290.com and then simply check on “Start A New Return”. Click on Heavy Vehicle Used Tax and fill in the details requested by the application. As you are typing, your info related to your vehicle, you will see your calculated taxes in the next slide in seconds. Also, add this point, the calculations done by our inbuilt application is the most accurate result, which will make you come to Tax2290.com again and again.

When things can get so techy, why do you have to stay dependent on paper and pen? So what is the wait for? Come over, and file tax for your heavy vehicle if you have used it for the first time on the highway in the month of April. So eventually, this May 31st would be the due date to file your return. Don’t wait anymore, if you go late, penalties would simply tag along which is not so likely.

Reach our Tax Experts for more assistance @ 1-866-245-3918 or write to us your queries tosupport@taxexcise.com. You stand as our inspiration to work harder, each day. We need to serve you with the best.

CDL Requirements In Minnesota- Known And Unknowns

Everyone dreams, varied ones. Some may dream to become a doctor and some would dream to be businessperson, however, there are handful of them who would think and dream that they would like to serve their nation through their driving abilities. Today’s blog is for the individuals who are thinking of to bring in a change, by being the change. If you think you are capable of becoming a truck driver and you are residing in Minnesota, you should fasten on your seat to check out the requirements of CDL.

Every profession has a series of requirements and this implies to CDL as well. Every applicant should meet the minimum age requirements; pass a background check, medical examination and pass the tests on the aspect of commercial driving before exposed to the open road.

Basis Requirements For Commercial Driving License In Minnesota

Age:

An applicant for truck driver license in Minnesota should be 18 years. For Hazardous material transportation and interstate CDL driver application, you need to be at least 21 years of age and

Medical Certification:

Before applying for CDL, ensure you are physically fit and fine to drive the heavy rig and thus, the applicant driver should pass a U.S. Department of Transportation physical exam and receive a medical examination certificate, acknowledging the same.

Adhere To The Norms By The Institute:

Every applicant is required to adhere to the standardized norms stated by the Professional Truck Driver Institute. Minimum standards include vehicle inspection knowledge, coupling and uncoupling tractor-trailers, and driving in different weather conditions.

A Background Check:

As per the Patriot Act, every commercial driver should undergo a background check and fingerprinted to transport hazardous materials. The Transportation Security Administration conducts the background checks for all commercial drivers. These check helps in protecting the citizens from terrorist action involving in hazardous materials.

Varied Types Of CDL:

With three types of CDL classes, you need to decide which one you are opting for with the type of vehicle driven.

  • Class A: Any combination of vehicles with a gross vehicle weight rating (GWVR) of 26,001 or more pounds, provided the GVWR of the vehicle(s) being towed is in excess of 10,000 pounds.
  • Class B: Any single vehicle with a GVWR of 26,001 or more pounds, or any such vehicle towing a vehicle not in excess of 10,000 pounds GVWR.
  • Class C: Any single vehicle, or combination of vehicles, that does not meet the definition of Class A or Class B, but is designed to transport hazardous materials.

Fees:

The fees for Minnesota CDLs are:

Class A: $42.25

Class B: $34.25

Class C: $27.25

The above mentioned criteria’s were to gain CDL, however, there is a set of duties you need to oblige after you become a truck driver. Paying taxes. Yes, you read it right. You need to ensure you file your tax return HVUT if you are driving on the highway. So come over and file your return if you have used your heavy vehicle for the first time in month of April. You are suppose to fileform 2290 by the end of the May. So come over and file your return online with ease.

We have a set of tax experts to support you, and help you in getting your queries cleared. Do get in touch with them when you are stuck with form 2290. Dial 1-866-245-3918 or shoot a mail tosupport@taxexcise.com.

Natural Gas Trucks – A New Trend in the Trucking Industry

The increase in fuel prices has encouraged more and more trucking companies to switch to natural gas trucks. The fleet industry has witnessed a growth in the number of vehicle owners investing in natural gas vehicles. Not only has this helped them save money but go environment-friendly too. These days, cars and trucks running on natural gas have made up a significant portion in the U.S in recent times. Continue reading

Interstate Trucking vs. Intrastate Trucking

Welcome back truckers, hope you’re doing well. Our previous blog was about America’s 5 Most Traffic Congested Places for Truckers, to move around the city with ease, leaving the traffic behind. However, today we’re going to discuss about Interstate Trucking and Intrastate Trucking, throwing light on their differences. We just hope we keep your attention till the end.  Continue reading