Section 179, Bonus Depreciation, and S-Corp Election for Dump Truck Owners
Section 179 lets you deduct the full cost of a used dump truck in year one (up to $1.16M). S-corp election saves 8–12% in payroll taxes once you clear ~$60k net. Both require an actual CPA — not TurboTax.
Taxes are where solo operators leave the most money on the table. Two decisions — depreciation method and entity election — can shift $10k–$20k a year.
Section 179 in one paragraph
Buy a used dump truck for $65,000 in 2026, deduct the full $65,000 against your business income the same year. Limit is $1.16M in Section 179 deductions for 2026, phased out above $2.89M in purchases. Bonus depreciation covers what Section 179 doesn't (60% in 2026, phasing down).
When to elect S-corp
- Wait until net profit clears ~$60k/year — below that, the payroll admin eats the savings
- File Form 2553 by March 15 to elect S-corp status for the tax year
- Pay yourself a 'reasonable salary' (~$45k–$65k for a working owner-operator), take the rest as distributions
- Distributions skip the 15.3% self-employment tax — that's the whole game
Per diem for on-the-road days
$80/day meals & incidentals for 2026 for transportation workers, 80% deductible. If you're on the road 200 days, that's $12,800 in deductions with zero receipts required.
This is not a TurboTax situation. A real trucking CPA runs $1,200–$2,500/year and will save you 5–10x that. Ask your insurance agent for a referral.
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