Owner/operators are one of the beneficiaries of a measure enacted by the federal government to help restaurants recover from the pandemic. Instead of deducting 80% of the cost of restaurant meals on the road, truckers may now deduct 100% of such expenditures for tax years 2021 and 2022. Obviously, anyone who takes advantage of this deduction should retain proof in the form of restaurant receipts in case of an audit.
ICSA does not give financial or tax advice, so we urge you to consult a tax accountant before you file your taxes to take full advantage of this change.
Several lawsuits were filed challenging the U.S. Department of Labor’s (DOL) independent contractor (IC) regulation enacted by the Biden Administration and the DOL’s Acting Labor Secretary Julie Su in early 2024.
The National Highway Traffic Safety Administration (NHTSA), in a Federal Register notice published April 1, denied a petition from the Institute for Safer Trucking (IST) requesting an investigation of collisions that van-type semi-trailers experience with passenger vehicles and other vulnerable road users.
ICSA representatives attended the TCA Truckload event, the preeminent event hosted by the Truckload Carriers Association, held in our hometown of Phoenix, AZ. We also attended the Mid-America Trucking Show (MATS), the largest trucking show in North America, held in Louisville, KY.