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First and foremost, consider your health and your family’s health before deciding to run during the pandemic. If you feel unsafe or are in a high-risk health group, then it likely makes sense for you to stay home. However, in terms of trucking, the current environment is similar to an extended Christmas Holiday season. If you are able and willing to run, there is money to be made while others sit it out. Many owner-operators are choosing to shut down and sit out the market for economic reasons as opposed to health reasons. To determine if this makes sense, let’s look at three different examples of spot market rates so far this year. The first example is spot market dry rates and fuel costs from January 2020. The second example is closer to today’s spot market rates and fuel costs. The third example is the owner-operator choosing to sit the market out because they believe rates are too low. The average rate in January was about $2.00/mile. Fast forward to today and we‘ve seen rates drop dramatically, by about 30 cents per mile (a drop to about $1.70 per mile) as seen in the 2nd column below. And while $.30 per mile is indeed a significant decrease, it’s important to remember that a major contributor to this drop in rates is low fuel prices which resulted in lower fuel surcharges. In fact, falling fuel prices account for about $.09 of the $.30 per mile drop in rates. The last example in the 3rd column shows the cost for owner-operators who choose not to run because they think rates are too low. Even though they aren’t running, they still have to cover fixed costs like truck payments, insurance, etc. There is no doubt that it is frustrating to only make a $583 profit when that exact same load made $791 back in January. However, the choice we have today is to either sit and lose $250, or run and make a $583 profit...that decision is worth $833! The bottom line is that today’s lower rate environment will certainly cut into your net income. However, a good business owner can still make money with lower rates. Economically it absolutely makes sense to continue running to cover fixed costs and take home some profit. Otherwise, you just dig a deeper and deeper hole with fixed costs continuing to add up day after day. We don’t know when things will get better, but when they do, would you rather be stuck trying to make up lost ground, or would you rather be bringing home additional profits for you and your family? Lastly, don't forget that there are Government stimulus programs to help offset your lower net income during this time. If you haven’t already applied for a Paycheck Protection Loan, contact ATBS today to help you get started. Most importantly be safe and healthy and thank you for delivering the freight all Americans count on every day!

By: Henry Albert, Freightliner Team Run Smart Pro There has been a flurry of activity revolving around the fact a large portion of our countries industry has been shuttered as we figure out how to navigate our way through this crisis. There have been stimulus checks sent to many of our nation’s citizens along with various programs to help businesses shelter this crisis which is unprecedented in our lifetime. One of these programs designed to help small businesses is the Paycheck Protection Program (PPP) which is being administered through the Small Business Administration (SBA). The PPP is a loan designed to provide a direct incentive for small businesses to keep their employees on the payroll. The SBA will forgive loans if all employees are kept on the payroll for eight weeks and the funds are used for payroll, rent, mortgage interest, or utilities. The process of applying for the SBA's PPP loan seemed simple enough so I started the process with the bank my business currently does trade with. I deal with a rather large banking institution so it seemed reasonable to expect the process of applying for this SBA loan to be simple and trouble-free. My first step to getting this SBA loan process started was to contact my personal banker who has always been extremely helpful in regard to all of my banking needs whether it was personal or business-related. To say my expectations were not met would be an understatement. All the bank did is direct me to their website to apply for the SBA loan. Upon reaching my bank’s website to fill out the application I became very frustrated as the site kept crashing and freezing up. The next step was to call customer service at which point I was informed they would not be of any help to me. After many hours of aggravation, I determined a different route was going to need to be embarked upon if my sanity was to be retained. This is when a call was placed to American Truck Business Services (ATBS) in order to seek out their expertise on the SBA PPP loan. There is not much to say other than this should have been my first call in order to complete this task of completing the loan process. After helping with my application, ATBS directed me to Continental Bank which is a bank that specializes in equipment financing ( before contacting Continental Bank, make sure you reach out to ATBS in order to complete your PPP Loan application ). The process from Continental Bank was the polar opposite of what I had found with my current LARGE banking institution. All the right paperwork was filled out and in a reasonable amount of time, the SBA PPP loan was approved. In closing, I cannot stress enough how important it is to have the right business partners in your corner. Thank you ATBS and Continental Bank for treating my business with the courtesy and respect a person should expect.

LAKEWOOD, COLO. – May 27, 2020  – Since the CARES Act was passed in March, owner-operators and other small business owners have clamored to find a way to obtain a Paycheck Protection Program (PPP) loan through the SBA. While news headlines purport that securing a loan has been a difficult and arduous process for some, many clients with American Truck Business Services (ATBS) have fared well. In total, ATBS has assisted over 900 owner-operators with loan requests totaling nearly $10 million. In March, ATBS released an eBook outlining the ways the CARES Act could assist owner-operators. The ebook has been downloaded by over 10,000 truckers.  Additionally, Todd Amen, President and CEO of ATBS, has been a guest on the Kevin Rutherford Business and Beyond show multiple times since the CARES Act passed, offering advice to owner-operators in search of a PPP loan. As a result, thousands of drivers have since flocked to ATBS for assistance with the loan. “I first heard about the PPP loan while listening to Kevin Rutherford’s show on Road Dog Radio,” said Kevin Kocmich, 2019 Owner-Operator of the Year. Kocmich was among the many ATBS clients who successfully obtained a loan. While ultimately successful, a number of clients faced initial hurdles. “I didn’t understand where to begin or what route to take,” said ATBS client John Beaurain. His sentiment was shared by many clients, including owner-operator Danny Revis who said he was “not going to even try applying  until hearing that ATBS was assisting drivers.” However, both Beaurain and Revis were also successful in getting loans with the help of ATBS. Some were unable to find a lender that would accept applications, while others didn’t have completed Schedule Cs or other documents. However, many owner-operators were successful in choosing small, local credit unions as opposed to large corporate banks. ATBS clients primarily agreed on two important factors in obtaining a PPP loan: Utilize the help of a business services provider such as ATBS, and find a local lender that’s familiar with you and your business. Recent estimates indicate there may still be $100 billion available for PPP loans. About ATBS American Truck Business Services (ATBS) is the largest tax, consulting, and bookkeeping firm in the transportation industry, with over 20 years of experience working with owner-operators and independent contractors. Since 1998, ATBS has helped over 150,000 clients earn more money, reduce stress, and drive a richer life. In 2016, ATBS developed the RumbleStrip line of service packages, which includes back-office solutions for truck drivers in every stage of their careers. For more information, visit www.ATBS.com.

LAKEWOOD, COLO. – July 7, 2020  – Since the CARES Act was passed in March, owner-operator truck drivers and other small business owners have worked to find a way to obtain a Paycheck Protection Program (PPP) loan through the SBA. Hours before the original application deadline of June 30th, Congress voted to extend the PPP loan application deadline. With President Trump’s signature on July 5th, the new application deadline is now August 8, 2020. It is estimated that there is still $140 Billion available for small businesses in the PPP program. Over the last few months, ATBS has assisted over 1,300 owner-operators with PPP loan requests totaling over $10 million. The next big question that remains is how to get the loans forgiven. In addition to the ATBS eBook outlining the ways the CARES Act could assist owner-operators, ATBS has just released a new eBook to guide clients through the process of PPP loan forgiveness. In this eBook, ATBS walks owner-operators through loan forgiveness topics including: PPP Forgiveness Forms Forgiveness of Payroll and Other Expenses Documentation Requirements Forgiveness Application Deadlines Repayment of the Loan, if Necessary Taxability of Loans The Appeal Process Real-World Examples ATBS encourages owner-operators to take advantage of the extended PPP loan application deadline. Loan recipients should then read through the eBook to help them better understand what is required of them in order to maximize their loan forgiveness potential. If owner-operators are interested in learning more about the services that ATBS offers, please visit www.ATBS.com, or call 866-920-2827. About ATBS American Truck Business Services (ATBS) is the largest tax, consulting, and bookkeeping firm in the transportation industry, with over 20 years of experience working with owner-operators and independent contractors. Since 1998, ATBS has helped over 150,000 clients earn more money, reduce stress, and drive a richer life. In 2016, ATBS developed the RumbleStrip line of service packages, which includes back-office solutions for truck drivers in every stage of their careers. For more information, visit www.ATBS.com.

LAKEWOOD, COLO. – July 23, 2020  – Earlier this month, ATBS conducted a survey of over 300 owner-operators about the effects of COVID-19 on their businesses. This survey sheds some light on how the pandemic has affected owner-operators overall and the use of relief programs and relaxed regulations intended to help drivers through the crisis. When it comes to financial aid, 81% of owner-operators received the $1200 Economic Impact Payment, 53% applied for a PPP Loan, and 30% received funding. ATBS assisted 25% of the owner-operators in the survey with their PPP loan applications. When asked about emergency relief efforts, the majority of owner-operators surveyed have not had to operate outside of normal regulations during the crises. For example, 87% of those surveyed said they have not had to drive beyond HOS rules, 95% have not had to operate with an expired CDL, and 96% have not had to haul a load above weight limits. According to the survey, freight volume and freight rates are the areas where owner-operators were hardest hit. Freight volume has dropped by 50% or more for 35% of the owner-operators surveyed, while 11% claim freight is nonexistent. As for rates, 47% of owner-operators said that freight rates have dropped by 30% or more. However, 65% of the owner-operators are still running during the pandemic, and only 6% have had to furlough an employee or independent contractor. When asked how the virus has affected them in other ways, 83% say they have not had any trouble finding masks or other PPE for themselves or their employees. In terms of freight type, 36% of drivers have moved relief freight related to COVID-19. Owner-operators that are interested in utilizing the services provided by ATBS are encouraged to call 866-920-2827 or visit www.ATBS.com for more information. About ATBS American Truck Business Services (ATBS) is the largest tax, consulting, and bookkeeping firm in the transportation industry, with over 20 years of experience working with owner-operators and independent contractors. Since 1998, ATBS has helped over 150,000 clients earn more money, reduce stress, and drive a richer life. In 2016, ATBS developed the RumbleStrip line of service packages, which includes back-office solutions for truck drivers in every stage of their careers. For more information, visit www.ATBS.com.

Find out how to get caught up on your taxes and put the IRS in your rearview mirror with our new Rearview Mirror Video Series! In this episode, we will be giving an introduction about what you can expect out of the rest of the videos in the series. 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.

As always, if you haven't watched the previous episodes, we'd recommend starting there and working your way forward. Remember, Episode #2 is the single most valuable & important video in this series. If you do nothing other than watch that video, you'll be on the right path. In this episode of the Rearview Mirror Series, Tom and Barney talk through some of the core IRS negotiation subjects including Offer In Compromise (OIC), First Time Abatements (FTA's), Installment Agreements, and much more! Biggest Takeaways: Having the best possible tax return results going into a negotiation is critical. A lot of the hard negotiation work can be reduced by ensuring your total tax bill is as low as possible. When it comes to the programs/strategies/tactics you can use, more often than not they can be layered! Always be sure to ask about all available options & programs to maximize your value during the negotiation. 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, we answer some of the most common questions truck drivers have about back taxes and tax resolution. Some of the Questions We Answer in This Video Include: "Why does the IRS make you pay taxes twice on April 15th?" "I heard your tax debt goes away after 10 years, is that right?" "My buddy told me the IRS will throw me in jail because of back taxes, can they?" "If someone puts a lien on my assets/property, can I still sell the asset/property?" "I have to file back taxes, but I was single then and married now, do I file single or joint in those old years?" "If I file an old tax return, do current tax laws apply, or do the tax laws from that year apply?" "I'm really far behind on taxes, but haven't heard from the IRS, if I look up my transcripts, will that put me on the IRS' radar?" "I heard from someone who told me that taxes are unconstitutional and I don't have to pay them, is that true?" "Have the dates for 2021 changed back to normal for quarterly tax estimates & tax filing? I know they were different in 2020." "I'm getting older, can your IRS debt be forgiven when you pass away?" 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 the final episode of the Rearview Mirror Series, we give a quick summary of the series in total, answer some final user-submitted questions, and give truckers advice on the next steps they can take to get caught up on their taxes and out of trouble with the IRS. 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.

We don’t have to tell you that competition is fierce. Not only are you faced with keeping your name top of mind with prospects and customers, but you also need to out-think and out-execute some of the biggest companies in the world to win consistent business. As a result of these David vs. Goliath battles before you, many successful businesses have out-maneuvered the competition big and small by investing in technology to simplify manual tasks and free up valuable time. So, what are these businesses using and how can you get your hands on them? Here are the top 8 apps and tools that help small businesses boost their productivity and efficiency. Evernote – A handy tool that allows you to clip, store, organize online articles, blogs and content. You can share this content with other users or team members and is a great way to organize information. Google Drive – A fully featured office suite, it’s also a cloud storage system that allows you to store data (5Gb for free). Fully integrates with other Google office or business apps making it fairly functional. Smartsheet – Collaborate and create lists and spreadsheets with a few clicks of a button. Stay organized by uploading documents, color coding rows, and assigning alerts. LocalVox – Publish news, events, deals, and promotions with a click of a button to a number of online channels like social media, websites, local directories, and even email newsletters. Expensify – This app lets you scan receipts with a click of a button, and also helps you keep track of mileage and other business expenses. It’s a great way to organize your costs of doing business. Asana – A nice ‘collaborative information manager’ designed to help you keep track of work projects and events. InDinero – A great app to help you manage cash flow and other business finances. You can sync your bank account and credit cards. The app will even predict future cash flow based on past trend data. Microsoft To Do – Allows you to keep and manage digital to-do lists. You can even share them between coworkers, set due dates, and create recurring to-dos. The great thing about the web today is that there are tons of apps – many of them at no cost – that can really help you improve your business efficiency. They can help you shrink the gap between you and your competition, reduce your business operating cost, and help improve cash flow – something we’re pretty keen on here at eCapital.

Download our complete "Tax Resolution Guide for Owner-Operators" by clicking here! As we approach Halloween, I find myself watching more and more scary movies. As creepy as vampires, werewolves, and zombies are; nothing quite compares to the fear of finding an IRS letter in the mailbox telling us we owe them money. Dealing with back taxes and the IRS can be scary at first, but if you follow the right steps you can find your way out of the dark. Perhaps the best way to learn would be to take a cue from the characters in scary movies! You may be surprised the more treats than tricks you can find when dealing with back taxes. What you don't know can hurt you. In one scary movie, someone walks into a dark basement where a monster is lurking in the shadows – even after we were yelling at the TV for them to not go down there. Your back taxes are no different! The longer they sit unnoticed or ignored by you, the bigger the problem will grow. Facing the problem head-on and being ready with a plan of attack is the best way to defeat the monster. What can you do? Know what years you still have to file, what you owe, and how long you have until the next deadline. The first step most tax resolution firms take is to find out exactly what you owe, and what years still need returns filed. This is especially important if the IRS filed a tax return for you. Knowing what your total back taxes are will help with understanding the best course of action. You can even contact the IRS yourself and get the years in which you are missing tax returns, and the balances. If you ignore the problem, it can grow out of control. Think of your typical zombie movie – it doesn’t take long for one little bite to spread over the entire population. The number grows bigger and bigger, and it just gets harder for the good guys to fight them off! Left unchecked, your tax bill can grow exponentially with each passing month and quickly overwhelm you. By addressing any letters you receive from the IRS as soon as possible, you can prevent these problems from growing out of control. The last thing you want is to receive a Final Notice of Intent to Levy, which means the IRS is preparing to seize your assets (settlements or wages)! What can you do? In most cases, swift action is the best course to take. Whether it's contacting a tax professional such as ATBS, or simply responding to the letter by calling the listed 1-800 number – it’s important to take action as soon as possible. Letting these letters go unaddressed could result in the IRS garnishing your wages or property. By taking action now, you’re letting the IRS know that the issue will be resolved and prevent them from future threats. Use the proper ammunition. You’ve seen the movies, so you know that there are some sure-fire ways to stop monsters in their tracks – such as wooden stakes for vampires, or silver bullets for werewolves. Although solving tax issues isn’t as simple, there are steps you can take to get there. After contacting your tax resolution firm or ATBS, you will need to file your missing tax returns. You may even be able to reduce the balance owed to the IRS. If you neglect to file your taxes, the IRS will do a Substitute for Return for you – which is the worst filing status. They will not take into account any expenses or deductions, which can mean thousands of dollars you should not have to pay taxes on. Certain business deductions can help reduce your liability, especially if you know what deductions to look for in your industry. If you are missing documents, you can order a Wage and Income Transcript to help file the appropriate income. Make sure that you have proper documentation of any receipts or expenses you claim, so that if your return faces any additional scrutiny by the IRS you will be prepared for any potential audit. Depending on your situation, you may qualify for several different resolution options. Talk to your ATBS tax professional to see what your options are. Once you’ve resolved your back tax issues, it’s important to stay on top of your taxes in the future. Have a plan of attack, and don’t let the monster return. If you’re an independent contractor, this means paying appropriate quarterly tax estimates, and filing your taxes timely every year. Always be sure to find a trusted firm that has helped thousands of people in circumstances like yours. You will want to understand the company’s process, and be sure that it truly helps you fix the problem. A tax resolution firm should know the ins and outs of what the IRS expects, as well as understand the industry in which you work. Never be afraid to ask questions. When you’re watching scary movies this Halloween, think about what everyone is doing wrong. Think about what you would do differently, and apply it to your taxes! You can prevent being overwhelmed by back taxes by being prepared, and being proactive now. Be ready to face the monsters head-on, to prepare you for the future of your business!

Every truck driver should know how to conduct a pre-trip truck inspection. However, many don’t take the time to go through this inspection every time they hit the road. It’s critical to go through this process to make sure everything is operating properly. Failure to do so can result in consequences that can cost money and take you off the road, or worse. Here are five reasons why it’s important for you to perform your pre-trip truck inspection. Click Here to Download our "Pre-Trip Inspection Checklist" It keeps you safe The most important reason to perform a pre-trip inspection is for your safety. It can be dangerous to go out on the road with a load that is not secured, brakes that are damaged, wiring that is not connected, etc. Taking the 30 minutes to ensure that everything on your truck is working properly is worth it if it means you don’t hurt yourself or somebody else. Don’t get in a habit of skipping a pre-trip inspection because you’ve never had anything go wrong before. It is important to understand that every time you hit the road without checking your truck, there is a chance you’re putting yourself or someone else in danger. It’s the law As a driver, you’re required to ensure your vehicle is safe to operate and free from defects. Legally, you need to do this by indicating that you performed a pre-trip truck inspection while “on-duty not driving” duty status. If you do find an issue, you will need to complete a driver vehicle inspection report to avoid violations during an audit. It’s better to catch an issue before a DOT officer does. This will help avoid a violation and a decrease in your CSA score. Depending on the case, the DOT officer could issue a fine. It keeps you on the road There are a few ways that not doing a pre-trip inspection can keep you off the road. First, if the DOT catches something wrong with your truck, they can give you a violation and put your vehicle out of service until the issue is fixed. Likewise, if you don’t become aware of a minor problem for a long time, it can eventually become a major problem. It’s better to catch something minor early so that it can be fixed quickly. Lastly, having something wrong with your truck can lead to an accident that causes damage to your truck and injuries to yourself or others. If an accident happens, it can keep you off the road for an extended period of time which further hurts your bottom line. It saves you money As mentioned earlier, doing your pre-trip inspection can help you catch a minor problem before it becomes something more serious. Chances are, a minor problem will cost less money and fixing it as soon as it pops up will get you back on the road quicker. This way you avoid losing money for the repair and losing money while you wait for your truck to get fixed. Also, it is better to catch an issue prior to hitting the road so that you can get it fixed at the shop rather than on the side of the road. Roadside repairs typically cost three to five times more than repairs in the shop. This will also save you from having to pay for a tow truck to help you get to a shop. It reduces liability It is important to keep in mind that your truck can be involved in an accident that causes serious damage and injuries. Even if it isn’t your fault, it is possible for you to be found liable for an accident if there is no proof that a pre-trip inspection was done properly. This is a big reason why it’s so important to perform your pre-trip inspection and keep track of whether or not you found an issue that needed fixing. If you find an issue and get it fixed, make sure you keep track of when and where the repair happened. It’s possible, and highly likely, for a lawyer to find you liable for an accident if there is an issue with your truck that could have been prevented by proper pre-trip inspection. How to perform a pre-trip truck inspection Here is a summary of what you need to look at when performing a pre-trip truck inspection. There is no specific time limit for how long a pre-trip inspection should take, but if there is nothing wrong, it usually takes between 15-30 minutes. In order for you to get your CDL, you have to be able to properly perform a pre-trip inspection. Engine and front of the truck You should take a look at all of the components under the hood including the critical fluids. These include power steering, coolant, windshield washer fluid, and engine oil. You also need to check the water pump, alternator, and the air compressor. Lastly, make sure you review the suspension, brakes, and tires. Truck side and rear When checking the sides and rear of the truck, make sure you take a look at the air hoses, exhaust, and the catwalk. Also, make sure you review the drive axle, including the tires, brakes, and suspension. Coupling Device Make sure you specifically check the fifth wheel and kingpin. The tractor portions will include the skid plate, slide locking pin, and the pivot pin and release arm. You also need to check the trailer portion which includes the apron, the bottom of the trailer, and the kingpin. Cab check and engine start The cab check should begin with you checking your seatbelt, the shifting distance, room for the clutch, and that the parking brake is on. Once you turn the vehicle on, check the windshield wipers, the gauges, the heat and defrost, and the vehicle lights. This is also the time to build air pressure for the airbrakes for the brake check. Brake check Drivers must ensure that all aspects of the brake system are in proper order. This includes the air brakes, parking brakes, and hydraulic brakes. Safety equipment check Lastly, you must confirm the cab includes a fire extinguisher, three safety triangles, and electrical fuses. Do I really need to perform a pre-trip truck inspection? Yes! Don’t get lazy when it comes to your pre-trip truck inspection. Take the time to go through with the inspection to help mitigate problems on the road. There is always a chance that something could go wrong even if you’ve never had a problem before. By performing your pre-trip inspections, you’ll save yourself time, money, and potentially your life or someone else’s down the road.