How much should an owner-operator set aside for taxes?

A common rule of thumb is to set aside 25–30% of your net profit for federal taxes, since you owe 15.3% self-employment tax plus income tax. State income tax (where applicable) is on top. The exact number depends on your income, filing status and deductions — use the estimator on this page for a personalized figure and confirm with an accountant.

What is self-employment tax for truckers?

Self-employment tax is the 15.3% you pay to cover both the employee and employer share of Social Security (12.4%) and Medicare (2.9%). It's calculated on about 92.35% of your net self-employment income, and you can deduct half of it when figuring your income tax.

Do owner-operators have to make quarterly tax payments?

Usually yes. Because no employer withholds taxes for you, the IRS expects estimated payments about four times a year if you'll owe $1,000 or more. The 2026 due dates fall around April 15, June 15, September 15, and January 15 of the following year.

How much is the trucker per diem for 2026?

The per diem for meals and incidental expenses is about $80 per full day away from home in 2026. It's one of the most valuable deductions for over-the-road drivers because it doesn't require saving every meal receipt — just documenting your days on the road.

What can owner-operators write off on taxes?

Ordinary and necessary business costs: fuel, insurance, truck depreciation or lease payments, maintenance and tires, tolls and permits, per diem, ELD and load-board subscriptions, factoring fees, and equipment purchases (often via Section 179 or bonus depreciation). Keep clean records and separate business banking to support every deduction.

What is Section 179 and bonus depreciation?

Both let you deduct the cost of qualifying equipment — like a truck or trailer — faster than normal depreciation. Section 179 lets you expense much of it in year one, and 2026 bonus depreciation allows an additional 40% on eligible property. Used well, they can significantly cut your first-year taxable income — confirm the specifics with your accountant.

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Owner-Operator Taxes

Owner-operator taxes, explained

Nobody withholds taxes for you anymore. Here's the plain-English 2026 breakdown of the 15.3% self-employment tax, quarterly estimated payments, the per diem, and the deductions that cut your bill — plus a tool to estimate what to set aside.

Quick answer

Most owner-operators should set aside roughly 25–30% of net profit for federal taxes: a 15.3% self-employment tax plus income tax. You pay it in quarterly estimated payments (about April, June, September and January), and you lower it with deductions like fuel, insurance, depreciation and the ~$80/day per diem. State income tax may apply on top.

The three things every owner-operator owes on

Self-employment tax: 15.3%

As an owner-operator you pay both halves of Social Security and Medicare — 12.4% + 2.9% = 15.3% — on your net self-employment income (calculated on about 92.35% of net profit). This is on top of income tax, and it's the piece new operators most often forget to set aside for.

Quarterly estimated payments

There's no employer withholding your taxes, so the IRS expects you to pay as you go. If you'll owe $1,000+ for the year, you make estimated payments roughly every quarter (mid-April, June, September, and January). Miss them and you can face underpayment penalties.

The per diem & key deductions

The 2026 trucker per diem is about $80/day for days away from home. Other big deductions: fuel, insurance, truck payment interest & depreciation, maintenance, tolls, permits, ELD/subscriptions, and factoring fees — all lower your taxable income.

Deductions that lower your bill

Every legitimate business expense reduces the income you're taxed on. The big ones for owner-operators:

Fuel and diesel exhaust fluid (DEF)

Commercial insurance premiums

Truck loan interest & depreciation (or lease payments)

Per diem for days away from home (~$80/day, 2026)

Maintenance, tires and repairs

Tolls, scales, parking and permits

ELD, load boards, phone & software subscriptions

Factoring fees and bank charges

Section 179 & bonus depreciation (40% for 2026) on equipment

Free tool

Quarterly Tax Estimator

Enter your expected net profit to estimate your self-employment + income tax and how much to set aside each quarter.

Expected annual net profit

Estimated income-tax rate

Net profit = revenue minus business expenses. Your income-tax rate depends on filing status, deductions and other income — 10–22% is a common range. This is a planning estimate, not a filing.

2 free calculations

Enter your numbers and hit Estimate to see your quarterly set-aside.

Estimate only — not tax advice. Confirm with a CPA.

The tax mistake that wrecks new owner-operators

Spending the whole settlement. Because no one withholds taxes for you, it's easy to treat gross revenue as income — then get blindsided by a five-figure tax bill and penalties for skipping quarterly payments. Set aside 25–30% of net into a separate account from your very first load and the bill never surprises you.

Run the business side like a pro

Create a free account for the 12-Step Business Foundation Guide — including how to set up your books, taxes and cash flow from day one.

Frequently asked questions

Educational mentorship — not tax, legal, or financial advice. Confirm your situation with a licensed CPA or the IRS.

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