Lumper Fees

Topic 29740 | Page 1

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Denni0s B.'s Comment
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If I paided out the lumber fees of $37780. For yr 2020 out of my pocket and turned the original receipts into the co. To get my money back there putting this on my 1099 as earned income

Anne A. (G13Momcat)'s Comment
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If I paided out the lumber fees of $37780. For yr 2020 out of my pocket and turned the original receipts into the co. To get my money back there putting this on my 1099 as earned income

DenniOs B.

With a few more details; one of our veteran drivers might indeed, be able to help you. Perhaps myself, other half driving for 20 years.

OTOH .. not many owner ops on here.

I can 'shout' but I think they will still need MORE info as to what you are asking!

@ PJ

@ Sid v.

@ PackRat (my BFF and prior O/O) ;)

I know, I'm missing MANY and I apologize. Woke up for a short list;

I try~

~ Anne ~

Big Scott (CFI's biggest 's Comment
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If you are an owner op and work 1099, that would be an operating expense. Unless you have a contract that says different, I am assuming they are reimbursing your income, so it would be some form of a 1099.

Errol V.'s Comment
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Denni0s, We do need a little more information.

Generally lumper fee are paid by the company, sometimes directly or of you pay and send in the receipts they paid you back. It seems by your post that you did get your money, but the company figured their payout to you was income. It's not income, it's your business expenses, just like the tolls and wiper blades you bought and hopefully got paid for by your company.

(These dock workers are lumpers with a P, not 2x4 lumber)

Now about that 1099. That hints that you are working for an owner/operator or a small company. Is that the case? That's a problem of is own. Did you get a 1099 or a W-2 for your income taxes?

Delco Dave's Comment
member avatar

Your accountant should file the lumper fees as a business expense. If not, you’re gonna owe around 12k in tax on that 37k. It would be wise to keep a copy of every receipt for your own records. If IRS ever audits you, you will need the receipts as proof. You need to keep all business records/receipts for at least 7 years.

PackRat's Comment
member avatar

I agree with Errol, in that a lot more background information is needed for an answer.

Are you an owner operator , leased to a company, or an independent operator with your own authority utilizing a broker?

Owner Operator:

An owner-operator is a driver who either owns or leases the truck they are driving. A self-employed driver.

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