Bookkeeping vs. accounting: what is the difference?
They get used interchangeably, but they are different jobs. What each one actually covers, and how to tell which one your business needs right now.
Read itPlain-English guides to tax, bookkeeping, payroll, 1099s, trucking and Form 2290, the questions people search for before they call anyone.
General guidance on bookkeeping, business tax and payroll, not specific to any one filing.
They get used interchangeably, but they are different jobs. What each one actually covers, and how to tell which one your business needs right now.
Read itIf nobody is withholding tax from what you earn, the IRS still wants it four times a year, not once at filing time.
Read itDifferent entity types file on different dates. Missing the one that applies to your business is one of the most common, and most avoidable, tax mistakes.
Read itPayroll tax is not one tax. It is federal income tax withholding, Social Security, Medicare, and unemployment tax, each with its own rules and its own deposit schedule.
Read itThe IRS can go back further than most people assume. Here is what to hold on to, and for how long, so an audit or an amended return is not a scramble.
Read itThe label on the paperwork does not decide it. The working relationship does. Here are the factors the IRS looks at, and why getting it wrong is expensive.
Read itThe form that reports what you paid contractors. Who has to receive one, what to collect before you pay, and the January deadline.
Read itSales tax is money you collect on the state’s behalf and owe back. What triggers the obligation, what registration involves, and what to keep.
Read itBookkeeping, deductions, owner-operator accounting and IFTA, written for people who run trucks.
A trucking business has a few numbers that matter more than any others. What to record, how often, and how it turns into a cost per mile.
Read itA plain list of the costs of running a truck that are usually deductible, the special meal rule for drivers, and the records that support them.
Read itWhen you are the driver and the owner, it is easy to run one pocket. Why to separate them, and the tax basics that follow.
Read itThe fuel-tax agreement that lets a truck cross state lines under one license. Who needs it, when the returns are due, and the records they are built from.
Read itWhat the form is, who has to file it, when it is due, and how to fix it when something is wrong.
The Heavy Highway Vehicle Use Tax explained without the jargon: what the form is for, who has to file it, and what you get back.
Read itThe 31 August deadline, why it does not apply to every truck, and how the due date works for a vehicle you bought mid-year.
Read itThe number that decides your tax, what goes into it, and the mistake that gets people taxed in the wrong category.
Read itThe stamped Schedule 1 is your proof of payment. What makes it valid, what a draft copy is not, and how to get a replacement.
Read itA wrong VIN on an accepted return is fixed with a free-of-tax amendment, not a whole new filing.
Read itUnder 5,000 miles a year (7,500 for agricultural vehicles) and no tax is due. You still have to report the vehicle.
Read itThe tax goes to the IRS, not to your filing service. Here are the ways to send it, and what we support today.
Read itForm 2290 reports the federal Heavy Highway Vehicle Use Tax (HVUT). You file it for any highway motor vehicle with a taxable gross weight of 55,000 pounds or more. The IRS stamps a Schedule 1 when the return is accepted, and most states will not renew your registration without it.
If you registered, or are required to register, a highway motor vehicle with a taxable gross weight of 55,000 pounds or more in your name, then yes. That includes trucks you expect to drive under the mileage limit. Those are reported as suspended vehicles rather than left off the return.
Form 2290 is due by the last day of the month after the month you first used the vehicle on public highways. For a truck already in service at the start of the tax period (1 July), that makes the deadline 31 August. Buy a truck in November and your return is due by 31 December.
Your EIN, the exact business name registered to that EIN, your address, and for each truck the full VIN and its taxable gross weight. You also need to decide how you are paying the IRS: by direct debit from a bank account, or through your own EFTPS enrollment.
Yes. One return carries every vehicle and produces a single Schedule 1 listing all of them. The fee depends on how many are on it, from $44.99 for two to four vehicles up to $209.95 for twenty to forty-nine. A return on which every vehicle is suspended is $9.95. Above 49 vehicles we quote it individually.
The IRS decides when a return is accepted, so we do not promise a clock time. What we do promise is that your return is reviewed and transmitted rather than sitting in a queue, and that the stamped Schedule 1 appears in your account the moment the IRS accepts it. Until then you can download a clearly-marked draft copy.
Email us the filing and the correct VIN. A VIN correction is filed as a free-of-tax amendment to the original return and the IRS issues a corrected Schedule 1.
No, and nobody’s is. Our fee covers preparing, reviewing and e-filing the return. The Heavy Vehicle Use Tax itself is paid to the IRS separately, by the method you choose on the return. Both amounts are shown to you before you pay anything.
The site runs over HTTPS, card details are handled by Stripe and never reach our servers, and return data goes to the IRS over an authenticated Modernized e-File channel. We do not sell your information.
Kay Accounting LLC does, as an IRS-authorized e-file provider, under our own EFIN. You are not transmitting to the IRS yourself, which is why a preparer reviews every return before it goes.
Accounting, bookkeeping, payroll or tax, tell us what is going on and we will tell you what it involves.
Get StartedFrom $14.95 for a single truck, priced by fleet size, itemised separately from the tax.
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