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With so many health problems that circulate around truck drivers, it’s hard to see the positive side in all of it. But health problems that can be reversible? Now there’s something to get excited about. Sleep apnea is a condition that not only affects a good night’s sleep, but it can also affect day-to-day activities – most importantly while driving. Many drivers are now being diagnosed with sleep apnea, and fear that a diagnosis will mean wearing a Continuous Positive Airflow Pressure (CPAP) mask at night. This mask is the most common medical treatment that provides a constant stream of air to keep breathing passages open during sleep. But luckily there are things that you can do to change your health so that if you are diagnosed, you don’t have to live with the CPAP mask forever. What is Sleep Apnea? Sleep apnea is a condition that causes shallow breathing, and pauses in breathing at night. This causes a disruption in the natural sleep cycle, and can lead to less energy and mental sharpness during the day. This condition has been linked to a number of other health risks over time, such as high blood pressure, stroke, and weight gain. The most common type is obstructive sleep apnea, which occurs when tissue in the back of your throat relaxes and blocks your airway, resulting in loud snoring. There are two other types that include central sleep apnea (involving the central nervous system), and complex sleep apnea (a combination of obstructive and central). A healthcare professional can provide an accurate diagnosis of the condition. What are the symptoms? Major signals are if pauses occur when you snore, and if choking or gasping follow the pauses. You may not notice these symptoms on your own, so ask your partner to observe your habits – or record yourself during sleep. One app that can assist you with this is Sleepbot, available on both iPhone and Android. It is important to note that snoring does not necessarily indicate that sleep apnea is present. Be sure to note your daytime behavior as well to help determine if you might be at risk. Other common signs and symptoms: Headaches in the morning Difficulty remembering things, or concentrating Irritability Depression or mood swings Dry mouth or sore throat upon waking Dozing off when driving, or stopped at a light Dozing off when not busy or active High-risk factors associated with sleep apnea include: If you have high blood pressure If you have a collar size of 17-inches or greater If you are overweight If you are a man If you are related to someone that also has sleep apnea If you are a smoker What can I do to treat my Sleep Apnea? Although weight loss takes time, it is one of the best ways to treat sleep apnea. Here is a great article about getting started with weight loss, and here are some apps you can download to help along the way. Some cases have shown that losing a significant amount of weight can cure the condition entirely, but even just losing 10% of body weight can have a big effect on symptoms. In addition to weight loss, here are some other tips: Quit smoking, as it increases fluid retention in your throat. Avoid alcohol or sedatives at bedtime. They relax throat muscles causing an interference with breathing. Try sewing a tennis ball into a pocket on the back of a t-shirt. When you sleep in the shirt, it will prevent you from rolling onto your back. It is better to sleep on your side, as gravity can cause your tongue and soft tissues to drop and obstruct your airway. Prop up your body from the waist-up during sleep by using a foam wedge or cervical pillow. Be sure to see a doctor immediately if you suspect sleep apnea, as it is a potentially serious disorder. However taking the right steps towards weight loss and lifestyle changes is the best way to move towards healing. For additional resources or questions about sleep apnea visit the American Sleep Apnea Association, or consult your healthcare professional. Sources: http://www.helpguide.org/articles/sleep/sleep-apnea.htm Image sources: Photo 1: https://www.flickr.com/photos/carbonnyc/ Photo 2: https://www.flickr.com/photos/tamakisono/

It’s currently the middle of summer and the warmest months of the year if you live north of the equator. So why are we talking about fuel costs and cold weather? The reality is that the price of diesel fuel is affected in various ways throughout each season of the year. Let’s start by talking about the two primary types of diesel that are used throughout the year -- diesel 1 and diesel 2. Diesel 1, also called kerosene and a close relative to jet fuel, is used in extreme cold to prevent fuel waxing and gelling. Diesel 1 has a higher cetane count and higher flash point, and is more efficient than diesel 2. Diesel 1 also contains less paraffin wax which causes the clouding and gelling of fuel in cold weather. It’s also significantly more expensive to refine, which is why we don’t use diesel 1 year-round. In cold weather climates, diesel 1 is blended with diesel 2 to prevent fuel gelling. Diesel 2 has adequate cetane counts and a high enough flash point combined with a lower cost to refine which makes it the most cost-effective fuel to use in normal conditions. If diesel 1 is more expensive, fuel prices must be highest in the winter...right? Wrong. The table below shows the average change month-to-month in diesel fuel prices from 2003 through 2020. November, December, and January (traditionally cold months) have the greatest average decrease in fuel prices. This is when expensive diesel 1 is blended with diesel 2 in cold weather climates to help trucks avoid fuel gelling. So if we’re consuming more expensive fuel in the winter months, why does the price go down? Supply and demand is the reason. As the holidays approach we hear about everyone traveling to see family. What we don’t hear is that once we get to our destinations, we tend to commute less. According to information from the US Energy Information Administration, we consume less motor fuels in January, September, and November. From 2003 through 2020, as a nation, we consume more fuel in each of the other nine months. Thus, higher consumption of fuel causes higher costs than does the blending with more expensive diesel 1 fuel. Source: EIA, millions of barrels per day, https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MGFUPUS2&f=M When driving in the winter months, you need to be aware of weather conditions and determine if you need to purchase more expensive blended fuels in cold climates to keep your fuel from gelling. However, you will generally experience higher fuel costs in the spring and early summer months due to increased travel and greater demand for motor fuels. In January, if you’re looking at fuel prices in Wisconsin while you’re in Texas and thinking you don’t want to fill up in Wisconsin, the cost of downtime for unthawing your gelled engine with un-blended fuel purchased in a southern state will be far more expensive than the blended fuel or a bottle of fuel additive. But in the summer months, you might find yourself paying more for fuel in a “vacation destination” region due to supply and demand. Either way, you can’t apply just one rule year-round. You have to pay attention to the weather, the markets/regions, state fuel taxes, and other variables we’ve discussed in this series to make sure you’re making the best decisions for your business and controlling your fuel-related costs.

If you haven't watched Episode 2, stop what you're doing and go watch/listen to Episode 2. Obtaining IRS Compliance is the single most important part of ATBS' proven process - go get that started before worrying about calling the IRS! In this episode of the Rearview Mirror Series, Tom and Barney explain the general process of what goes into preparing for an IRS negotiation, as well as the basics of how the IRS call goes. Specific negotiation strategies & tactics will be discussed in-depth in Episode 5! Biggest Takeaways: Obtaining IRS Compliance (Episode 2) is most important, this MUST be done before you call the IRS! Think about your story (why you're in the situation you're in with the IRS) and write it down before you call - IRS agents are human beings, and are willing to take your individual circumstances into account. Get your documentation ready! Tax notices/documents, any medical info (physician's note), etc. - that information is vital to use your time effectively on the call. Once you're on the phone with an IRS agent (which can take many hours of waiting!) the most important thing you can do is have great manners - say "please" and "thank you"! Calm yourself and treat others like you want to be treated - if you aren't willing to be kind to IRS agents, and if you aren't willing to let them "lead" the conversation, you'd be better off paying a professional to handle the call. If you have a very large balance due to the IRS, if the IRS is threatening to garnish your wages and/or put a lien on your assets, if an IRS "Revenue Officer" is assigned to your case, or if the stress of dealing with the IRS is simply making your life unnecessarily hard, we highly recommend using a trucking-specific tax relief team (like the ATBS Tax Relief Pit Crew!) to assist you. We'll be talking about Managing IRS Compliance next week so you can ensure you never fall back into trouble with the IRS again after your negotiation is finished! To check out the complete series, click here. You can also learn about ATBS’ Proven Path for owner-operator truck drivers to get caught up on taxes and out of debt with the IRS by downloading our Tax Resolution Guide for Owner-Operators! Remember, if you're in trouble with the IRS, or if you’re just trying to get ahead of any future problems with the IRS, our Tax Relief Pit Crew will be able to help you out! To learn more about our Tax Relief Pit Crew Service Packages, click here.

In this episode of the Rearview Mirror Series, Tom and Barney talk all about the first step in getting caught up on your taxes: IRS Compliance. They dive into what exactly IRS Compliance is, why it's important, and how to obtain it. Biggest takeaways: You're not alone if you are behind on your taxes, and you can - and will - get back on track! You simply have to get started with ATBS' Three-Step Process. Negotiating with the IRS CAN'T happen until you become Compliant (Step 1)! Getting caught up on your taxes and paying your taxes on time every quarter (Obtaining Compliance) will solve the majority of your back tax problems. If you still have a significant balance due to the IRS after going through Step 1, you can move onto IRS Negotiation (Step 2), which we will discuss in the next video. To check out the complete series, click here. You can also learn about ATBS’ Proven Path for owner-operator truck drivers to get caught up on taxes and out of debt with the IRS by downloading our Tax Resolution Guide for Owner-Operators! Remember, if you're in trouble with the IRS, or if you’re just trying to get ahead of any future problems with the IRS, our Tax Relief Pit Crew will be able to help you out! To learn more about our Tax Relief Pit Crew Service Packages, click here.

Historically, the Internal Revenue Service has always seemed a little bit scary, slightly out of reach, and shrouded in a sense of secrecy. It’s not been an easy system to navigate or interact with and that feeling only worsened during the COVID years and beyond. The purpose of this article is to shed some light on what the IRS has been up to and what changes to their collections process we anticipate in the coming year. Throughout 2021, 2022 & 2023, we saw a significant decrease in issuance of collections notices from the IRS. This was largely in response to the strain that the COVID pandemic put on taxpayers across the country. Further, the IRS shut down their automated collection functions in its entirety. They’ve been instructed to reopen all of those functions in 2024. This means there will be a large increase in enforcement on all cases where untended back tax exists. The IRS slowly reopened collections functions throughout 2023 and we anticipate a return to more “normal” - pre 2020 - collection efforts throughout this year and beyond. So, what does this mean for you? If you are missing tax returns for the last few years, it is important to remember: The IRS can require that we file the most recent 6-years’ worth of returns if we have not done so; The IRS can (and, will) file on our behalf if we do not file. This protects the IRS' interest in taxes that may be due for that year. When they do this, they are not taking into account any deductions you would otherwise be eligible for and this typically results in much higher balances than would be due if you filed an original return. If you owe back tax and have noticed a softening in the IRS corresponding or enforcing against those balances due, we would suggest you prepare for a reversal of those more lenient practices. If you are in a position where you owe the IRS on prior year taxes and are NOT in a payment plan with them, you should anticipate: A resurgence of collections notices in the mail; A higher likelihood of wage or income garnishments - yes, they can issue levies to 1099 income sources; A higher likelihood of bank levies; A higher likelihood of lien issuance when you owe greater than $10,000. If you do owe back tax, you should contact the IRS to discuss resolution options. If you wish for assistance in this aim, our team of experts is happy to talk to you. On the heels of a time period where the IRS was not enforcing at levels consistent prior to the year 2020, it is also understandable that you may not know, entirely, where you stand with them. If you are in this camp, and wish to get an overview of your IRS account with a roadmap of steps that should be taken to address any outstanding issues, we can help. If you are unsure of where you sit with the IRS, our team of licensed Enrolled Agents can contact the IRS for you in an effort to: Get a big picture overview of your account with the IRS; Obtain a breakdown of all balances due with an understanding of collection statutes for any balances and how long the IRS has to collect; Obtain an accounting of which returns may be missing and need to be filed; Obtain Wage and Income Transcripts for any unfiled years. These will show any income reported to your Social Security Number for any years that have not yet been filed; Obtain Account Transcripts for each year that there is a balance due to the IRS - these will show transactional detail; Outline a roadmap with all available options to reach an amicable resolution with the IRS. Our desire is to be sure you are set up for success. Understanding where you, and your business, stand with the IRS is an important component to that. If you’re a truck driver who is behind on filing multiple years of tax returns and may owe thousands of dollars to the IRS, click here to learn more about how we can help, or give us a call at (866) 920-2827.

If you find yourself waiting in line at the post office on April 15 then it’s time you make a change that will save you time. You can join the 150 million taxpayers who decided to e-file their tax returns last year. Here are five reasons why you should be e-filing your taxes this year. Accurate and Easy When you e-file your taxes you can feel confident that you are going to be getting the most accurate return. The tax software used helps to avoid mistakes and maximize your deductions. It guides you through every step of the process including the new health care law tax provisions. The bottom line is that e-filing your taxes is much easier than actually doing your taxes by hand and mailing them to the IRS. Convenient Options You can e-file your taxes by using commercial tax preparation software or a tax preparer like ATBS, which specializes in working with owner-operators. By having these options on hand you can spend more time doing what matters most to you, and that is driving. Safe and Secure When you e-file with the IRS you can rest easy knowing that they have used secure encryption technology to protect your tax return. The IRS has safely and securely processed more than 1.3 billion e-file tax returns from individuals since the program began. Faster Refund In most cases, you will get your tax refund faster when you e-file. That is because there is nothing to mail in and your return is almost always free of mistakes. The fastest way to get your refund is to combine e-file with direct deposit into your bank account. The IRS issues most refunds in less than 21 days. Payment Flexibility If you owe taxes this year then you can e-file early and set up an automatic payment on any day until the April 15 tax deadline. You can set up payment to automatically come out of your checking account. You can also pay by check, money order, debit, or credit card. Most people stress out when it comes to tax season. By hiring a tax professional and e-filing your return, you can make this year’s taxes painless. If you have not filed your taxes yet, make sure you call us at 866-920-2827.

Do you want to become a more successful owner-operator? Do you want to grow and expand your existing business? If you’re looking to bring your truck driving career to the next level or maybe expand your business in the future, there are ways to gain new skills and knowledge while on the road. College Courses Truck drivers don’t need a college degree, which can save you tens of thousands of dollars and put you financially ahead of many of your college graduate friends. However, if you are interested in furthering your knowledge or career then taking college courses might be beneficial to you. Most community colleges and four-year universities offer online courses. If earning an associate's or bachelor’s degree is something that you really want to do, look into reputable colleges that offer online courses or degrees. If you’re interested in growing your business or becoming a better owner-operator then maybe a few select courses in areas such as accounting or business management might help you develop new skillsets. College courses can be expensive. Luckily many schools offer alternatives to traditional courses. Continuing Education or Professional Courses Many community colleges, universities, and even local town adult education programs offer a variety of continuing education or professional courses or workshops aimed at helping you learn and develop new skill sets. These courses are often available online or completed over a weekend at the school. Determine knowledge areas that you might be lacking or rusty and research courses or workshops that might help you develop those knowledge areas and skills for a minimum price and time commitment. Industry Conferences and Meetings Industry conferences are great events to learn about the latest technology and trends, attend educational seminars, and network with other like-minded individuals. Attending events like the Mid-America Trucking Show can be beneficial. Industry Associations Get involved with a trucking association. Many associations offer a range of membership benefits that will help you as a driver and business owner. Take advantage of their webinars and forums to learn from other owner-operators. If you're looking for a challenge, get involved in other areas of the association, such as a leadership position or join the policy committee and advocate for the trucking industry at your local and national level. Not only will you learn valuable skills, but you will be helping thousands of others in your industry. Free Online Courses Many top colleges and universities are now opening their doors and releasing free online courses for anyone across the world. All you need is the internet and the desire to learn. You won’t earn a degree at the end of these courses, but you might learn something new and exciting. Coursera and EDx are two sites that offer free online courses taught by top university professors from schools like Harvard and Stanford ranging in topics from computer programming to medicine to art. Additionally, MIT has created online courses and materials that are very similar to the courses taught in the classrooms on campus. Learn a New Language The workforce is increasingly becoming globalized and being able to speak a second language can not only increase your chance of scoring a client but also increase your pay. Speaking multiple languages might even help you decrease your chance of developing Alzheimer’s and dementia and improve your English skills! Rosetta Stone and Duolingo are both great and fun ways to learn a new language while on the road. Furthering your career or education while constantly being on the road can be difficult. With the internet and new software and apps being developed on a daily basis, learning new skills and knowledge can be easy. Being a lifelong learner will not only help you further your career, but it can keep you healthy and smart for years to come. Image Source - https://www.flickr.com/photos/merlijnhoek/

One of the goals of the government stimulus programs has been to get restaurants back on their feet. And the good news is, one of the new stimulus incentives designed to aid restaurants can bring significant tax benefits to our owner-operator (O/O) clients. This specific tax incentive increases the Business-Meal Deduction from 50% to 100%, with the idea being that people will spend more money eating out thereby supporting the restaurant industry. This incentive is only temporary and is in place for tax years 2021 and 2022. This means O/Os will be able to take a 100% Per Diem deduction as opposed to the traditional 80% Per Diem deduction each full day they are on the road. As always, in order to take the Per Diem deduction, you must still use some sort of written record (e-Log, calendar, etc.) to verify all days spent away from home. For all of our clients using the ATBS Hub, we have a feature for tracking Per Diem days away from home. Per Diem is one of an owner-operator’s largest tax-deductible expenses, and the difference between a tax preparer doing it right versus doing it wrong can mean several thousand dollars to you. We hope this outline provides the necessary guidance you need to take full advantage of the new (albeit temporary) 100% Business-Meal deduction. And as always, if you have any questions, please don’t hesitate to reach out to your ATBS Business Consultant.

**If you're an ATBS Client, please send your documents to ATBS using the ATBS Hub. To download the app and learn more, visit www.atbs.com/mobileapp.** As a truck driver you probably collect a couple handfuls worth of receipts each month you are on the road. Things like fuel, parts, and showers are all tax deductible so you need to save a receipt to prove the expense. If you like to do everything electronically, the idea of using a computer scanner to send each of those receipts to your accountant isn’t all that exciting. We recommend using CamScanner to send your receipts and documents directly to your accountant right from your smartphone. CamScanner is the world’s number one document scanning and sharing app. With over 10 million downloads it has over a 4.5 average customer rating. It is available for free from either the Apple app store or Google Play. To help get you started we have created a step-by-step guide on how to use the CamScanner app. 1. Register a new account. 2. Provide either an email address or phone number, and a password to create an account. A link will be emailed or texted to you for confirmation. Use that link to activate your account. 3. Sign in with your username (either email or phone number) and password. 4. Prepare your receipt or document by writing your ATBS CODE and identifying what item on the receipt is a business expense. Be sure to mark each item with a pen - do not use a highlighter as it will be difficult to read. 5. A camera icon will appear on the bottom of your screen after you have signed in to your account. Select that icon to capture an image of your receipt. 6. This will open into camera mode and when you hold your phone steady, it will automatically focus. Make sure you can clearly read the receipt or document when taking the picture. 7. Press the camera icon to capture the image. 8. Review the photo and press "Next" if the receipt is legible. If you would like to redo your picture, use the back arrow to retry. 9. Your image will be automatically cropped and enhanced. You'll also have the option to rename the document in the upper left hand corner of the screen if you'd like to. 10. Next, press the checkmark to Save. 11. In the upper left hand corner of the screen, select the share icon. 12. In order to send documents to ATBS, ONLY USE the PDF option. 13. In the upper left hand corner, click Share. 14. Select your email program. 15. Insert your ATBS CODE in the subject line of the email and send it to fleet1@atbs.com. Please note: tax documents should be sent to tax@atbs.com. CamScanner will automatically save a copy of the scanned documents on the homepage of the app. If you have any problems sending your documents to ATBS, please contact your ATBS business consultant. Not an ATBS client? Click below to learn more about the services we provide!

Tax scams can happen any day of the year, but are especially prevalent during tax season. Criminals can attempt to steal your money or personal information in a variety of ways including over the phone, through email, and with text messages. Read the following tips to find out how to stay safe from tax scammers. How can I tell if I am getting scammed? Scammers often use many of the same tactics in their attempts to steal from people. Being aware of these common tactics can help you determine if you’re dealing with a scammer. Common scamming techniques include the following: Asking for information through email, text message, or social media One of the first things you should remember is that the IRS will never ask for information via email, text, or social media. Keeping this in mind will eliminate the possibility of falling victim to a scam. If you receive an online message asking for information from somebody saying they are the IRS, assume it came from a scammer and ignore their request. If given the option to block or report the scammer, do so. Demanding Immediate Payment When it comes to tax scammers, a big red flag will be if they demand that you make a payment immediately. The IRS will never call you demanding immediate payment without first sending you a notice in the mail. The IRS would also allow you to question or appeal the payment prior to making it. Requiring Payments a Certain Way Another sign that you may be dealing with a scammer is if you’re asked to make a payment a specific way. Many scammers will ask you to make payments only with a prepaid debit card or by wiring the money. The IRS will never force you to pay a certain way and will allow you to decide which method of payment works best for you. Asking for credit or debit card numbers over the phone The IRS will never ask you to provide credit or debit card information over the phone. If you’re being asked to provide credit or debit card numbers over the phone to make a tax payment, you are likely dealing with a scammer. Threatening to bring in police to arrest you for not paying If you refuse to make a tax payment and are threatened with arrest, then you are dealing with a tax scammer. The IRS will not make threats of arrest for not making a payment. Don’t allow these threats to scare you into making the mistake of providing personal information to a scammer. What are the most common scams? Identity Theft Identity theft occurs when someone uses your personal information, such as your name, Social Security number (SSN), or other identifying information, without your permission, to commit fraud or other crimes. In many cases, an identity thief uses a legitimate taxpayer’s identity to fraudulently file a tax return and claim a refund. Pervasive Telephone Scams The IRS has seen a recent increase in local phone scams across the country, with callers pretending to be from the IRS in hopes of stealing money or identities from victims. These phone scams include many variations, ranging from instances where callers say the victims owe money or are entitled to a huge refund. Some calls can threaten arrest and threaten a driver’s license revocation. Sometimes these calls are paired with follow-up calls from people saying they are from the local police department or the state motor vehicle department. Phishing Phishing is a scam typically carried out with the help of unsolicited email or a fake website that poses as a legitimate site to lure in potential victims and prompt them to provide valuable personal and financial information. The IRS does not initiate contact with taxpayers by email to request personal or financial information. This includes any type of electronic communication, such as text messages and social media channels. False Promises of “Free Money” from Inflated Refunds Scam artists routinely pose as tax preparers during tax time, luring victims in by promising large federal tax refunds or refunds that people never dreamed they were due in the first place. While honest tax preparers provide their customers a copy of the tax return they’ve prepared, victims of scams frequently are not given a copy of what was filed. Taxpayers should take care when choosing an individual or firm to prepare their taxes. Honest return preparers generally: ask for proof of income and eligibility for credits and deductions, sign returns as the preparer, enter their IRS Preparer Tax Identification Number (PTIN), and provide the taxpayer a copy of the return. What should I do if somebody is attempting to scam me? Over the phone If you get a phone call from someone claiming to be the IRS and you think you might owe taxes, call the IRS at (800) 829-1040. This way you know you are talking with somebody from the IRS and they will be able to help with the payment issue. If you know you don’t owe payments, or have no reason to believe you do, report the incident to the Treasury Inspector General for Tax Administration at (800) 366-4484 or at http://www.tigta.gov. Also, you can contact the Federal Trade Commission and use the FTC Complaint Assistant at FTC.gov if you believe you have been specifically targeted by a scammer. Email If you receive an email from somebody claiming to be the IRS, and they are requesting personal or financial information, you should not reply. Also, make sure not to open any of the attachments or click on any of the links. Next, forward the email to the IRS at phishing@irs.gov. Finally, mark the original email as spam and delete it. Text Message If you receive a text message from somebody claiming to be the IRS, you should treat it like you would an email. Do not reply or click on any of the links. Forward the text to the IRS at 202-552-1226, and if possible, include the number in a separate message. Finally, make sure you delete the original text and block the number if you can. Website If you come across a website that claims to be the IRS that you believe is a scam, you can email the URL to phishing@irs.gov. When you send the email, make sure to include “suspicious website” in the subject line. How can I further protect my private information? Online Even if a scammer isn’t attempting to communicate with you directly, it’s still possible for your personal and financial information to be compromised. In order to further protect your private information, make sure you keep your computer protected and are smart online. One thing you can do is take advantage of security software that updates automatically. This includes a firewall, virus protection, and file encryption for important data. Also, don’t give out any personal information unless it is through trusted websites. Treat your information like cash and don’t be careless with it. This includes posting about past addresses, a new home, a new car, and other life events on social media. Finally, make sure you’re using strong, random passwords that you keep to yourself. Offline There are simple things you can do offline to make sure your personal information stays safe. One thing you can do is avoid carrying around your Social Security card, or other documents that have your Social Security number included. Also, keep old tax records safely protected at your home in a safe that is under lock and key. These are records that you don’t want lying around for people to easily look at. Finally, if there are tax records that you don’t plan on keeping, make sure you shred the documents before you throw them in the trash. What should I do if I believe I have been scammed? If you believe you have fallen victim to a tax scam, follow these steps to limit the effect of the theft: First, you should determine what information the thieves compromised. This includes emails, passwords, and more personal information like your Social Security number. Next, you should place a freeze on your credit or debit card accounts. This will allow you to stop the scammers from taking any more money or records from your account. You should also place a fraud alert on your account which forces a business to verify your identity before issuing credit. Finally, reset your passwords on any online accounts. This includes email, social media, and financial sites. You should try to keep a different password for each of your accounts to make it more difficult for the scammer to access your information. If possible, take advantage of multi-factor authentication which requires a security code to log in to your account that is usually sent to your phone number. Having the right knowledge and knowing what to look out for will help protect your business and personal finances from scammers, keeping you safe throughout the year.

Planning is an essential part of owning your business. You should always have a strong plan set up for where you are now, and how far you would like to take things down the road. Here are a few tips on how to start a successful business plan: Write Down Your Plans Even long-established companies have a plan that outlines their market, products, and objectives. If you’re not sure where to start, here is a step-by-step guide to help you get started. Success begins by first determining what it is you want. This business plan is the roadmap to your success. It is a constantly evolving document that projects several years ahead and outlines the route your company intends to take in order to grow. A well thought out plan also helps you to step back and think objectively about the key elements of your business venture, and informs your decision-making. A business plan is about results, what you want to do, and how to achieve your goals. You can use this plan as a foundation to branch off from, and then update it each year you’re in business. Develop Business Goals and Visit Them Periodically Entering into business without clearly stated development goals could cause failure. Since most new businesses go under within the first 18 months of starting, it’s vital to have these goals set up ahead of time. Many businesses have learned this the hard way. In trucking, a main goal could be how much income you want to earn in a year and some secondary goals could be miles run, fuel efficiency, increasing the number of trucks, etc. Estimate Taxes Based on Current Revenue Tax planning may not be the most exciting part of owning a business, but down the road it can help you save a lot of money. Some new business owners don't realize they will have to pay taxes quarterly and will receive a different tax form at the end of the year. Many new business owners also put off taxes because they are daunted by trying to get their products or services to market. Putting off your taxes can mean increased interest and penalties as well as the potential to forget about additional deductions if you wait multiple years to file your taxes. Don’t Try to Do Everything Yourself – Delegate! The inability or unwillingness to delegate has led to the downfall of many business professionals and owners, regardless of the company’s size or revenue. It is impossible to do everything yourself at the highest possible quality. No matter how passionate you are about the business that you run, there are many tasks to keep it running. But the good news is, you don’t have to do everything yourself as there are many companies out there to help! Delegating work means you’re giving someone else the responsibility and authority to do something that is normally part of your job. Far from relinquishing control of your business, allowing experts to help can lead your business in the direction of your goals. ATBS can be an extension of your core team by handling your tax, accounting, and business services needs. As an owner-operator, you likely don't want to be bogged down with the daily management of paperwork. Look to streamline your business by using a trucking-specific company you can trust! Image source 1: https://www.flickr.com/photos/djking/

Here at ATBS, we wanted to provide an update for those who may have questions about the IRS Free File pilot program. If you haven’t heard, the Internal Revenue Service is proceeding with a pilot program that will allow taxpayers to have their taxes prepared directly through the IRS website as an option along with doing an electronic file or working through a tax professional or other third-party tax preparer. Residents in select states will have the option to participate in the direct file program, which is being set up as part of the provisions of the Inflation Reduction Act, in the upcoming 2024 tax filing season. The nine states included in the pilot are states that do not have a State Income Tax, including Alaska, Florida, New Hampshire, Nevada, South Dakota, Tennessee, Texas, Washington, and Wyoming. The pilot will also include four states that have a State Income Tax – Arizona, California, Massachusetts, and New York – and in those states, the direct file pilot will incorporate filing state income taxes. There is no intention for the IRS to require taxpayers to use the direct file option and if the pilot proves successful and the agency moves forward with the program, it will simply be another option for taxpayers in addition to existing avenues to file. Owner-operators and truck drivers who receive a 1099 will not be eligible for the pilot program. This is because the pilot will not cover all types of income, deductions, or credits. At this point, it’s anticipated that only specific income types, such as wages from Form W-2 and certain tax credits, like the earned income tax credit and the child tax credit, will be covered by the pilot. Some examples given by the IRS that would disqualify a taxpayer from filing through the direct file pilot would be those receiving the health care premium tax credit or those filing a Schedule C with their tax return. In future years if the agency moves forward beyond the pilot, those could be incorporated into the free file program. However, it may be difficult for the IRS to file for 1099 truck drivers because the IRS would only have gross income and no expense data. Continuing to utilize a preparer who is familiar with trucking is going to remain the best way to capitalize on deductions that help drivers save money on taxes. Participants who will be invited to use the free file program in the pilot phase will be notified this year. Those participating in the pilot program will have their own dedicated customer service representatives to help them with the filing process. Truck drivers who are employees and receive a W-2 are encouraged to participate in the program if selected. Hopefully, this helps clear up any questions or confusion you may have. If you have additional questions, please feel free to contact us.