Self-employment tax
Self-employment tax is the US federal tax covering Social Security and Medicare contributions for people who work for themselves, paid in addition to income tax on business profit.
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For an employee these contributions are split between worker and employer. A self-employed carrier pays both halves, which is why the rate surprises owners in their first year.
It is assessed on net business profit, so every legitimate deduction that is properly recorded reduces it. Deductions that exist but were never documented do not.
This is general information, not tax advice. A qualified professional should confirm how it applies to your business structure.
For example, say your loads bring in $150,000 in a year and your recorded expenses are $110,000, so net profit is $150,000 − $110,000 = $40,000. That profit is what self-employment tax is figured on. If you had also kept $3,000 of receipts you lost, such as tolls and repairs, profit would be $37,000, and both self-employment tax and income tax would be figured on $3,000 less.
The lesson for your money is simple: a receipt you keep lowers your tax bill, and one you lose raises it. Record expenses when they happen, not at tax time, and set money aside for this tax from each settlement so it does not hit all at once.