Dorsey Tax Place

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Dorsey Tax Place Dorsey Tax Place boasts over 30 years of expertise in offering tax and business guidance.

Whether you're an individual, small business or trucker(owner operator), we're here to save you money and support you in achieving your goals successfully. Dorsey Tax Place offers personalized services:

Personal and business income tax preparation
Business consultations
Small business start up / how to profit & grow
Truck driver business start up/ how to profit & grow
Book keeping and Payroll Service
Franchise Tax, Sales Tax, IFTA Tax, 2290 HVUT Tax preparation

10/21/2026

🚛 Becoming an owner-operator? Your first big tax mistake could happen before your first load.

You're thinking about getting loads, paying for fuel, managing your truck and building your business.

But who's handling your taxes?

When you move from company driver to independent owner-operator, the responsibility for planning and paying your taxes generally shifts to you.

And if you're not prepared, that first tax bill can be a nasty surprise.

Before you hit the road:

✅ Choose your business structure carefully. An LLC and an S Corp aren't interchangeable, and neither is automatically the right choice.

✅ Separate your business and personal finances. Keep your income and expenses organized from day one.

✅ Plan for estimated taxes. Don't assume you can wait until April to pay everything.

✅ Track your expenses. Fuel, insurance, repairs, permits and other eligible business costs can affect your taxable profit.

✅ Get professional tax guidance early. Fixing mistakes later can be more expensive than preventing them.

💡 A profitable trucking business starts with knowing your numbers, including what you may owe in taxes.

At Dorsey Tax Place, we help owner-operators get their tax planning on track.

📞 Visit dorseytaxplace.com to schedule a consultation before your first load.

Are you getting ready to become an owner-operator, or are you already on the road?

10/19/2026

🚛 Sleep in your truck? You might be missing a valuable tax deduction!

Some owner-operators assume they can't claim per diem because they don't stay in hotels.

Others assume every night spent in their truck automatically qualifies.

Neither assumption is correct.

The IRS looks at more than where you sleep.

✅ Are you traveling away from your tax home for business?

✅ Does your trip require substantial sleep or rest?

✅ Do you have records supporting your travel days?

If you meet the requirements, you may qualify to deduct eligible meals and incidental expenses using the per diem method.

💡 The important part? Knowing which travel days qualify and keeping the right documentation.

At Dorsey Tax Place, we help owner-operators understand their deductions and avoid costly mistakes.

📞 Schedule a tax consultation at dorseytaxplace.com.

Have you been claiming per diem when you sleep in your truck, or have you been missing out?

10/14/2026

🏡 **Did you sell your home for less than you paid for it?**

You might assume that loss can lower your taxes.

Generally, it can't.

If you qualify, the home sale exclusion may allow you to exclude some or all of the GAIN from selling your main home.

But if you sell your personal residence at a loss, that loss generally isn't deductible.

**The tax rules for making money on your home and losing money on your home aren't mirror images of each other.**

And if your home was also used for business or as a rental, things can get more complicated.

Before making assumptions about what your home sale means at tax time, ask.

🌐 DorseyTaxPlace.com
☎️ 972-672-8850

10/12/2026

🚛 **Owner-operators: Starting a business doesn't automatically mean you need an EIN.**

If you're operating as a sole proprietor, you may be able to use your Social Security number for federal tax purposes.

But there are situations when an EIN IS required, including when you have employees or certain other federal tax filing requirements.

The takeaway?

**Your business structure matters.**

Don't collect forms, numbers, and registrations simply because someone told you, "Every business needs this."

Make sure you know what YOUR business actually requires.

Need help getting your trucking business set up properly?

🌐 DorseyTaxPlace.com
☎️ 972-672-8850

10/09/2026

Not every corporate tax return has the same deadline.

For calendar-year businesses:

🔹 An S Corporation return is generally due in March.

🔹 A C Corporation return is generally due in April.

And if a proper extension is filed, the extended filing deadlines are generally six months later.

That's why knowing you have a "corporation" isn't enough.

You need to know how your corporation is taxed and which deadline applies to your business.

Don't let the wrong date create an unnecessary tax problem.

Need help keeping your business taxes on track?

🌐 DorseyTaxPlace.com
☎️ 972-672-8850

10/07/2026

Owner-operators: If you incorporated your trucking business, you may be more than the person running it. You may also be a shareholder.

Both C Corporations and S Corporations have shareholders who own shares in the company.

For a small owner-operated trucking business, that could mean you're the only shareholder.

But C Corps and S Corps aren't taxed the same way.

For example, S Corporation income generally passes through to shareholders, who report their share on their individual tax returns.

That's why it's important to understand more than the name attached to your business.

Know how your business is structured AND how it's being taxed.

Not sure? That's a good question to ask before tax season.

🌐 DorseyTaxPlace.com
☎️ 972-672-8850

09/30/2026

Owner-operators: You formed a corporation. Does that automatically make you an S Corp?

No.

Your corporation is created under state law, but S Corporation status is a federal tax election.

An eligible corporation generally has to file Form 2553 with the IRS to elect to be taxed as an S Corporation.

That's why getting your corporation paperwork approved by your state doesn't necessarily mean you're finished.

You need to know how the IRS is actually treating your business for tax purposes.

Not sure whether you're a C Corporation or an S Corporation for federal taxes?

Let's get it straight before it creates problems at tax time.

🌐 DorseyTaxPlace.com
☎️ 972-672-8850

09/28/2026

🚨 Owner-operators with an S Corporation: One late return can get expensive.

For S Corporation returns required to be filed in 2026, the late-filing penalty can be $255 per shareholder for every month or part of a month the return is late, for up to 12 months.

One shareholder + 3 months late = potentially $765.

Two shareholders + 3 months late = potentially $1,530.

That's money you would probably rather keep in your business.

If you filed an extension, remember: the extension gives you more time to file, but it doesn't make the return optional.

Already behind? The longer you wait, the more the potential penalty can grow.

Dorsey Tax Place can help you get your S Corporation return taken care of.

🌐 DorseyTaxPlace.com
☎️ 972-672-8850

09/23/2026

Owner-operators with a C Corporation: Is your tax return still on extension?

For calendar-year C Corporations that timely requested a six-month extension, October 15 is the extended deadline to file Form 1120.

That may sound like plenty of time, but October will be here before you know it.

Don't wait until the deadline to start gathering your records.

✔️ Get your paperwork together
✔️ Make sure your bookkeeping is up to date
✔️ Get your return prepared and filed

Still need help with your C Corporation return?

🌐 DorseyTaxPlace.com
☎️ 972-672-8850

Disclaimer: Every tax situation is different. This information is for educational purposes only and isn't intended as individual tax advice.

09/21/2026

🚛 Lease operator or owner-operator and getting paid on a 1099?

Here's what matters:

A 1099 generally means the payer is treating you as an independent contractor rather than an employee, so taxes typically aren't withheld from those payments.

That means you need to plan for taxes yourself.

Keep good records of your income and business expenses, know what you're earning, and don't wait until filing season to find out what you owe.

And remember: receiving a 1099 doesn't mean every driver files exactly the same way. Your business structure and individual tax situation matter.

Are you planning for your taxes throughout the year or waiting until tax season?

🌐 DorseyTaxPlace.com
☎️ 972-672-8850

#1099

Address

1615 Forest Bend Lane
Keller, TX
76248

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Monday 9am - 6pm
Tuesday 9am - 6pm
Wednesday 9am - 6pm
Thursday 9am - 6pm
Friday 9am - 6pm

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