- 5 - Petitioners have a trucking business, Tillman Trucking (Trucking), that they operate as a sole-proprietorship. Petitioners’ 1990 Schedule C reports Trucking’s gross receipts as $125,226. Included in these receipts are $98,187 from Edward C. Levy, $5,615 from Howard Belstra, and $21,424 from Crawford Materials Co. (Crawford). Not included in these receipts is another $22,197 that Trucking received from Crawford for sales to it during 1990. Petitioners’ 1991 Schedule C reports Trucking’s gross receipts as $157,353. All of these receipts are from Edward C. Levy. Not included in these receipts is $43,475 that Trucking received from Crawford for sales to it during 1991. Trucking’s 1989 through 1991 expenses, as reported by petitioners on their Schedules C, are as follows: 1989 1990 1991 Car & truck expenses $42,942 - 0 - $12,500 Truck payment - 0 - $31,710 - 0 - Truck seats (2) - 0 - - 0 - 780 Trucks paint - 0 - - 0 - 3,500 Trailer tarps - 0 - - 0 - 1,350 Trailer payment - 0 - - 0 - 7,000 Depreciation 11,871 5,940 - 0 - Insurance 15,955 9,600 10,800 Rent or lease 2,100 2,100 - 0 - Vehicles, mach. equip - 0 - - 0 - 2,100 Repairs 39,440 20,107 39,123 Truck wash - 0 - 850 2,296 Taxes & licenses 6,590 5,241 7,412 Travel & tolls - 0 - 1,400 1,800 Utilities 4,450 3,350 2,800 Fuel 35,005 22,274 38,000 Tires 4,700 4,500 4,057 Battery box - 0 - - 0 - 570 Oil, fuel & air filter 945 500 1,175 Lube filter 230 390 - 0 - CB radio, oil, hoist, A’freeze 745 1,050 2,070Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Next
Last modified: May 25, 2011