I don't think the Federal rates are intended to figure the truck cost for a business to charge, as you are describing yours. I think as a business you would charge $X per hour, not mileage, for truck and driver. The truck is working the same hours as you are. Are you considering the truck is included with your labor in the $25 per hour? I would consider that low for what you are doing. Right now, it sounds like you are getting $55.84 per round trip of 28 miles ($37.50 in labor and $18.34 for your truck use or 37.23 per hour.) What do you have for a truck, fuel use, service, wear and tear? What is his trailer?
A good tax advisor/accountant could answer best on how you should charge. You are using his trailer and equipment, if something goes wrong traveling, loading or unloading are you an independent contractor, employee or just a friend doing a favor? What are you carrying for vehicle insurance purposes, a commercial policy that covers how you are operating?
Not saying anything right or wrong about what you are doing, just that there are some other things to consider in figuring your cost and what to charge that you didn't mention.
This post was edited by Jim.ME on 08/25/2023 at 04:10 pm.
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