Tips for Truckers: Last-Minute Tax-Related Stress Management

Are you a truck driver that hasn't yet found time to do your taxes, because your hands have been too busy steering the wheel to fill out forms? Maybe you haven't even been home long enough to sit down and think about getting them done. Instead of letting your stress go into overdrive, keep reading to find out how to survive tax season as a trucker. 
1. Maintain your records year-round. Staying organized is a surefire way to reduce stress. Rather than having to dig through piles receipts and bank statements every year, you'll make tax time much easier and far less daunting if you just put important paperwork into the appropriate file, as it comes up. Not to mention, it will drastically reduce the amount of time you spend on your taxes.

2. Don't procrastinate! Wait, it's a little late for that, isn't it? Save that tip for next year. This year, however, it isn't too late to file for an extension. For personal taxes, you'll need to send in Form 4868. If you happen to be an owner/operator of a truck and are not the sole member of an LLC, you'll need Form 7004. Give yourself a little extra time, and you'll be able to breathe a big sigh of relief.

3. Adjust your withholding. Getting a tax return is nice; it feels like magically found money. But unless you adjust your federal tax withholding, you'll continue to loan money to the government interest-free. Why cheat yourself out of this money throughout the year? You could be investing this extra money in retirement, building up your emergency fund, or be keeping it in a savings account for vacation. Once you make the appropriate adjustments, you'll breathe a little easier knowing you have more control over your money.

4. Visit the IRS's Trucking Tax Center. The IRS makes it easy for owner/operators, with this page outlining everything you need, and need to know, to successfully file. As a side note, if you don't yet own your truck (but hope to in the future), bookmark this page for future reference.

5. ...Or, hire a professional. Too many people try to do their own taxes and then end up stuck, or just making a complete mess of them. As a trucker, chances are you don't have a lot of time or space to spread out and sift through receipts and paperwork. Additionally, if you are filing business taxes, there are many more ways to make a mistake. The best way to avoid having to go back and do things over again is to just go with someone who does this for a living. Just like you wouldn't want someone without their CDL driving a truck and sharing the road with you, you don't want an untrained and unqualified person preparing a complicated tax return.  

6. Get moving! We are referring to moving your body, not your truck. As a trucker who sits behind the wheel all day, it is imperative that you make time for exercise from a mental and physical health perspective. Many truckers choose to have memberships at gyms that allow them to use any location nationally. It's also a good idea to just get outside and walk. Any town you pass through is sure to have a park or walking path you can use. When we are stressed, it's easy to say that we don't have time to exercise. The truth is, you have to make the time. Even if you're just going for a walk around a truck stop, it's better than nothing, and may help to clear your head when stress piles up.

7. Enjoy the view. As a truck driver, you have a unique opportunity to see places that many people don't get to see. If you drive overnight, you get to be one of a few people on a quiet road at first light. Take a minute to soak it all in- whether you're in a city or on an open road in the middle of nowhere, there is beauty to be found everywhere. There are many stressful moments as a truck driver, but there are also many calming ones. 

8. Don't forget to pray/meditate/whatever it is you do to stay centered. If you aren't religious and don't meditate, maybe you have a hobby that relaxes you and makes you happy. We all have something in our lives that helps keep us centered. If you don't have that something yet, start trying different things and see what works for you. 

Do you have any more ideas on how truckers can manage tax-related stress? Let us know in the comments below!