What Can Owner-Operator Truck Drivers Deduct on Their Taxes?
Owner-operator truck drivers can deduct nearly every cost tied to running their truck as a business — fuel, maintenance, insurance, and even a daily per diem for meals while on the road — which makes trucking one of the deduction-heaviest 1099 occupations.
Because you own or lease the truck itself, your deductions go well beyond what a company driver could claim. Fuel is usually the single largest expense, followed by maintenance and repairs, which can add up quickly given how much wear long-haul driving puts on a vehicle. Truck insurance, licensing and permit fees (like IFTA and IRP), and lease or loan interest on the truck are all deductible as well.
One deduction many new owner-operators miss: the IRS allows a standard meal per diem rate for each full day you're away from home for work, without needing to save every fast food receipt. For 2024, that rate was $69 per day within the continental U.S., though it's worth confirming the current-year rate.
Other commonly deductible owner-operator expenses:
Fuel, oil, and DEF fluid
Truck repairs, tires, and routine maintenance
Truck insurance and cargo insurance
Licensing, permits, and IFTA/IRP fees
Lease or loan interest on the truck itself
Log book software, ELD devices, and dispatch service fees
The most common mistake owner-operators make is not separating personal and business fuel/maintenance costs when the truck is ever used outside of hauling loads, and not tracking days away from home carefully enough to claim the full per diem they're owed.
BossTax's free app tracks fuel, maintenance, and per diem days automatically, so nothing gets left on the table at filing time.
Not sure you're capturing every deduction your truck qualifies for? Schedule a free 15-minute chat — no pressure, just answers. Click here.
Get tax tips built for owner-operators and independent truckers sent straight to your inbox — sign up now.
Related articles:
How Does the Per Diem Deduction Work for Truck Drivers?
Do Owner-Operators Need to Pay Quarterly Taxes?
Leasing vs. Owning Your Truck: How It Changes Your Tax Deductions
Comments