Several tax changes will take effect this year. Here are the highlights of those that will have the greatest impact on the trucking industry.

Eliminate the stress: In 2000 you can allow the IRS to speak directly to your tax preparer about your return. This is a great way to reduce the stress associated with any IRS contact. Simply check the "Yes" box in the area where you sign your return, or tell your tax preparer.

Child tax credits: If you have a child who is under the age of 17 at the end of 2000, you may be able to claim the Child Tax Credit and/or the Additional Child Tax Credit. The total of these credits cannot be more than $500 for each qualifying child. (Check with your tax preparer to see if your child qualifies.) The Child Tax Credit is a deduction from the amount of tax you owe. If you do not owe any tax, you can not take this credit. The Additional Child Tax Credit is a refundable credit. In other words, you could qualify for a refund even if you do not owe any taxes.

Student loan interest: If you paid interest on a qualifying student loan, you may be able to deduct up to $2,000 of that interest. This is up from $1,500 in 1999 and will increase to $2,500 in the year 2001. Be sure your tax preparer gets your 1099 student-loan interest statement at the end of the year.

Self-employed health insurance deduction: The self-employed health insurance deduction is unchanged at 60% for 2000. After 2001, the deduction will gradually increase to 80% by 2008. If you've been thinking about health insurance, now is a great time.

Standard Mileage rate for business travel is 32.5 cents per mile in 2000. (In most cases, the actual expenses for fuel, repairs, tolls, scales, etc., will yield a higher deduction than the 32.5-cents-per-mile rule.)

Per-diem: For workers who come under the "Hours of Service" limitation (trucking comes under this rule), beginning in 2000, you can deduct 60% of your meal expenses for travel away from your tax home. This deduction will gradually increase to 80% by 2008. The trucking industry falls under the "Special Rules for Transport-ation Workers" which allow for averaging of the per diem rate. The rate for 2000 is unchanged at $38 per day for travel inside the U.S. and $42 per day for travel outside the United States.

Exemption deduction: The deduction is $2,800 for 2000, up from $2,750 in 1999. (To learn more about Blair Tax Consulting's services, see www.blairtax.com or call at (800) 882-5247.)

Standard Deduction: The standard deduction for 2000 has been increased for every filing status. Here's the breakdown:

Married filing jointly or qualifying widow(er) $7,350 (up from $7,200)
Head of Household $6,450 (up from $6,350)
Single $4,400 (up from $4,300)
Married filing separately $3,675 (up from $3,600)