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If you own a small business or are an independent contractor, you’re well aware of the headaches and stresses that cash flow can cause. The fluctuations can make it difficult to pay your employees, purchase new equipment, expand your business, or even stay afloat. Often these fluctuations in cash flow seem out of your control; clients pay you on their terms (30, 60, sometimes 90 days) or pay you on delivery, which often happens after you really need funds. But there are things you can do to improve cash flow and understanding your options is what is truly important. Consider these five cash flow tips: Have a cash flow plan.  This may seem obvious, but many small businesses and contractors do not have a plan. List out your expenses and the cash you need to conduct business and then plan for and around it. If you create a cash flow plan you’ll likely put yourself in position to account for those items you need before your customers pay, easing the cash flow crunch.  ATBS provides invaluable benchmarking data to help you make the best choices for your business. Offer discounts to your top customers.  Identify your top five customers and offer them discounts for early payment. Often these discounts are not huge, but large enough that customers may take advantage of them. You may have seen these discount terms on invoices; they often look like ‘1% 10, net 30’ where your customer will get a 1% discount for paying in 10 days versus the normal 30 day terms. That 1% may be just the incentive you need to put cash in your account early, putting it to good use. Consider credit card payment options.  You may be able to work with your customers to pay early using a credit card. In this scenario, your customer still enjoys a 30 plus day payment term (since they don’t have to pay their card balance right away) while you enjoy fast invoice payment. You will need to pay a discount to the credit card company – often between 1.5% to 3% - but this is less than the cost to borrow money from a traditional lending institution and puts that cash to work for you faster. Take advantage of invoice financing or factoring.  Invoice factoring, sometimes  also called accounts receivable financing , is where you sell your invoices to a third party – a factoring company or factor – who pays you up front the bulk of the invoice amount and then manages the collections. The factoring company doesn’t charge a huge fee – often comparable to credit card discounts – and you can get your cash fast. Do your research to see if this method is the best choice for your company. Consider a line of credit.  Depending on your company history or personal credit scores, you may be able to establish a line of credit. This would give you access to cash as you need it and before your customers pay their invoices. In this scenario, you will need to be careful to manage this line of credit, using invoice revenue to pay down your balance so as not to get ‘over your head’ in debt. That old saying that ‘cash is king’ is not an exaggeration. Cash is a huge necessity to grow and sustain operations for small (and larger) operations alike. These five tips are just a few that can help you free cash to grow your small business. Image source:  https://www.flickr.com/photos/jmrosenfeld/

The use of cell phones and tablets is essential for success in the trucking industry. One reason for this is because of the ever-growing number of trucking-specific apps. Truckers now have access to the weather, live traffic reports, diesel prices, and their business, all in the palm of their hands. These apps for truckers allow for easy access to information, improved business operations, and an overall increase in quality of life. If you are interested in increasing your efficiency and happiness on the road, here are 12 popular apps that are perfect for any trucker. T he Best App for ATBS Clients The ATBS Hub Mobile App The ATBS Hub Mobile App makes working with us even easier! With this app, you’ll be able to easily call or email your business consultant, track your Per Diem deduction , and scan or import receipts, settlements, and other documents with just a few taps. Have questions about the ATBS Hub Mobile App? Click here! Trucking Apps Trucker Path Trucker Path is considered by many to be one of the most popular trucking apps. The app is currently downloaded by over 600,000 truckers who use it for pretty much anything trucking-related. Trucker Path provides many features including navigation, parking status, fuel prices, weight stations, etc. Truck Smart Truck Smart is an app that is brought to you by TA Petro. Truck Smart is another all-purpose trucking app that can fulfill many different needs. It can be used to reserve parking reservations, know fuel prices in advance, and submit service requests. Drivewyze Drivewyze Free provides essential in-cab safety alerts, sponsored in part by state agencies in collaboration with Drivewyze, along with insights to optimize fleet performance. It is provided to the entire commercial trucking industry at no cost. Greenlane Greenlane is a strategic fueling app that offers deep diesel discounts. Save an average of 50¢ per gallon and as much as $1.30 off of the cash price at their growing network that includes: Love’s, TA, Petro, Speedway, Sunoco, Stripes, Maverick, and Kum & Go. Greenlane is free to use with no applications, credit checks, or fees, ever! Mudflap Mudflap is an app that focuses on independent Mom & Pop truck stops. These truck stops are usually 20 cents cheaper than major chains and paying for fuel through Mudflap saves you an extra 25 to 50 cents per gallon. They do all of this while charging no fees. Weigh My Truck The Weigh My Truck app revolutionizes how professional truck drivers weigh their trucks. You can weigh your truck, pay with your smartphone, and have your scale tickets sent directly to your email while also keeping track of your weighs directly in the app. Trucker's Slide Calc Trucker's Slide Calc is an app to help semi truckers quickly slide their single, tandem, and tridem axles. It also makes it easy to calculate individual axle weights with weighbridge/whole-truck scales. Business Apps Truckstop Load Board App Truckstop delivers software solutions that support the entire freight-moving lifecycle, from matching to payment, and everything in between. As non-stop innovators, they’re always improving and growing to make Truckstop the best place for brokers and carriers to work together. DAT Load Board App DAT provides a load board app free for all DAT subscribers. The app posts around 637,000 loads every business day. It includes features like spot market rates, saved searches, sort options, and company reviews. BigRoad BigRoad is an electronic logbook for owner-operators, drivers, and fleets. The app allows drivers to easily track hours of service by calculating the time for you. BigRoad will also send notifications for any errors or violations to help you avoid fines. TNTRUCK App T he TNTRUCK Mobile App is where owner-operators can get fast and easy quotes for trucking insurance , manage drivers and units, as well as access certificates and account information 24/7! General Apps Weather Channel App The weather channel app provides information on exactly what you would expect…the weather! What separates this weather app from others is the ability to look at weather forecasts two weeks in advance. This app also provides alerts and notifications with weather updates in whatever area you are currently in. Windy As the name suggests, Windy is another weather app that is especially good at tracking and providing updates on the wind across the country. The app allows you to look multiple days ahead in order to plan your route accordingly and avoid areas of high wind. The Rolling Strong App Rolling Strong is a health and wellness company that focuses specifically on professional drivers. They offer an app that provides drivers with exercise and meal plans while on the road. A subscription to the company also comes with online coaching from the Rolling Strong trainers. Today, it’s important that you take advantage of what your mobile devices can offer. All of these apps can improve your business and your life, with little to no cost. Take a look at all of these apps and see how much easier it makes your time as an owner-operator.

As an owner-operator truck driver, you work long hours. You are often on the road for weeks at a time. Being able to take a week or two off to recharge throughout the year is important. Unfortunately, it requires not only finding the money in your budget but also the time to be off the road. Planning When to Take a Vacation Many Americans have the luxury of taking time off whenever they want. They just need to have vacation days saved up. Owner-operators, on the other hand, need to be doing a lot more planning. Your vacations should revolve around freight cycles. When freight demand is high, it’s in your best interest to be running. However, when things are slow, and there isn’t as much freight to be moved, vacations are manageable. January and February typically are the slowest months of the year for freight. If you are looking to optimize your productivity and also your income, then vacations after the New Year are your best option. This doesn’t mean you shouldn’t take a day off during the summer months, it just means you should be ready to run hard following your time off. Budgeting for the Time Off We often talk about budgeting, or a profit plan here at ATBS, and its importance. By setting up and following a budget you can be confident that you will be spending less money than you earn. If you are planning to take a vacation, then it’s important to be able to pay for it upfront so that it doesn’t cause you to go into debt. One way to plan ahead is by adding a line item in your Profit Plan a few months prior to taking the time off. Unless you have a large amount of disposable income each month, this likely means you will need to cut something out of your budget. This will help make up for the additional amount being allocated to your vacation. Alternatively, you can also choose to increase your income to pay for the vacation. Picking up a couple extra loads each month leading up to your trip could make up for the cost of being off the road. The Bottom Line Taking time off now and then is a good idea for your emotional and mental well-being. Remember that vacation takes a good amount of planning so that you can cover the costs involved and also afford to be out of the driver's seat. Image Source - https://www.flickr.com/photos/34022876@N06/

In this article, we want to share some ways for you to manage your trucking business during an uncertain freight market. Now would be the best time to start looking at your operation and identify areas where you can generate and save money. By following these tips, you can help make sure you get yourself and your trucking operation through uncertain times. In addition, by getting into the habit of managing your business for times like these, you’ll reap the benefits in the future when the market gets steadier. Be Flexible With Your Operation If you have been an owner-operator for a while, you know that the market goes through its ups and downs. You might also know that the best way for your business to operate during good times might be different than how it needs to operate during bad times. With freight rates being uncertain, it’s time to look into how your business will operate best right now. This means looking into different types of freight or areas of the country that you may not usually operate in but might have higher demand during the current trucking market. On the flip side, if you find a market that is helping you stay successful, there is a chance that operating like this isn’t going to stay profitable forever. You may have to be flexible and look ahead to different markets if the one you are operating in looks like it isn’t going to continue to work out for you based on changing conditions. Don’t allow yourself to get trapped in a situation that was once profitable, but is now a place where you won’t be able to make enough money to keep your business afloat. Most importantly, you have to stay informed and understand the market changes as they are happening. You can do this by talking to other drivers about what is working for them, listening to trucking-specific satellite radio shows to stay informed, asking the fleet you may be leased to about freight changes, reading trucking blogs, and looking at data from Truckstop and DAT . Overall, be flexible and know that what’s working in the present may not be what works best for you in the future. Understand Your Financial Situation During uncertain times, it will be more important than ever that you are completely aware of your finances. This means keeping an accurate and up-to-date profit and loss statement and knowing your break-even point. If you haven’t already done these things, now would be the best time to start. Your profit and loss statement will allow you to see areas where your business is operating well and areas where you can improve. From your profit and loss statement, you will be able to come up with your breakeven point, which is how much money you need to make to at least cover your costs. With that breakeven point, you can look at it on a per day, week, month, and yearly basis. With that breakeven point in mind, you need to be realistic with your revenue expectations and know that you may not earn as much as you would during a really strong economy. This means you can't be picky with your load selection. You aren’t going to be able to choose loads based on whether or not you think it’s “cheap freight.” You need to use your break-even point as your guide in deciding what loads to take. Your decisions will have to be made by looking at the big picture and deciding whether or not you’re earning a profit on this load, and if not, is it getting you to another area or to another load where you will be making a profit? Reduce Costs After you have looked at your financial situation and analyzed your profit and loss statement, you will know areas of your business where you are able to reduce costs. One number that will surely jump out at you is fuel, as it’s one of your biggest expenses. Luckily, fuel is an expense that you actually have some control over. Even though you can’t control the price of fuel, you will be able to have some control over how much you are using. We have an entire article dedicated to the top 25 ways for truck drivers to improve their fuel efficiency . These are changes that you will be able to make immediately in order to save money on fuel. Unlike fuel, truck and insurance payments are costs that you may not have much control over. However, there are other non-essential costs that you will be able to try to reduce. Food and drink is one that comes to mind. These are obviously essential to stay alive, but going out to eat every night isn’t. If you can, try buying groceries and cooking for yourself in the truck. Buying groceries can be a lot cheaper, and healthier, than eating out at restaurants for every meal. Other non-essential costs might be unnecessary upgrades to your truck, service providers you aren’t using, and a variety of personal things you might be spending money on that you don’t need. Preserve Your Cash Along with reducing your costs, preserving your cash is important so that you have enough money to make it through uncertain times. Look for all sources of cash in your business and personal life, so that you can increase your cash reserves. You can start by looking for places where you could delay or reduce payments. This can include vendors where you spend money in your business like truck payments, insurance coverages, and maintenance work. Check to see if you can delay or pay for some of these services or products in 60 or 90 days instead of 30 days. Are there other places you might have cash such as excess maintenance reserves, stockpiles of parts or supplies, or things sitting around your house that you don’t need? Make every effort to convert unused things into cash so that you have the money to get through the uncertain times. A good goal to build towards is having three to six months of living expenses in a cash reserve. Build Relationships During uncertain times, forming relationships with people you can trust is a great way to get yourself, and the people you are working with, through to the other side. If you have been using the spot market for a while, now might be the time to look into contracted freight or to look into leasing with a carrier in order to have some security with your freight. The spot market is not as consistent or as reliable during an uncertain freight cycle. Leasing onto a carrier, or forming a partnership where you are on a dedicated route can provide some consistency when things are uncertain. This way you aren’t going week by week not knowing if you are going to find a load on the spot market that is going to earn you a profit. By leasing with a carrier, or having a dedicated route, you will not only save time by not having to find loads on the spot market, but you will feel a little more confident that you are going to be able to make enough money each week. It may also be a good idea to form a relationship with a business service provider that knows the trucking industry, like ATBS, to help you run the business side of your trucking operation. This is the best way to make sure you are keeping an accurate look at your business’ financials and you know how you are performing month over month. With ATBS, you will also be able to ask questions about how you can improve your business or how your business is operating compared to others. During uncertain times, allow yourself to focus all of your attention on doing what you do best, which is moving freight across the country, and let a business service professional handle all the accounting , bookkeeping, taxes, paperwork, and other tedious back-office duties. Bonus: Don’t Panic Tough times don’t last, but tough people do! The trucking industry, and the economy in general, is a cycle that is going to go through good times and bad times. Just by reading this article, you are helping yourself get through these more challenging times. You can take these lessons learned during the uncertain freight times now and apply them forever to keep your business profits maximized during all cycles By following these ways to manage your business during an uncertain freight market, you will hopefully feel a bit more confident that you will be able to get through. If you are feeling concerned and need somebody to help you better manage your business during the changing times, feel free to give us a call at 866-920-2827 or send us an email at info@atbs.com . We want nothing but the best for those in the trucking industry that we work alongside with!

Bookkeeping is an important part of running your business as an owner-operator truck driver. It allows you to keep your financial statements organized and gives you an idea of how your business is performing. As a truck driver, you may have a hard time keeping good records while on the road. That’s why it may be best to look into using a bookkeeping service for your business that works specifically with owner-operator truck drivers. There are many benefits that come with using a bookkeeping service for your trucking business. In this article, we will discuss important things to consider when you search for one. Are you a self-employed truck driver that needs help with your bookkeeping, taxes, or accounting? Click here! Scan and Archive Receipts/Files The first thing you should look for is a bookkeeping service that will scan and archive all of your business receipts and important files. This way you don’t have to keep track of physical receipt copies. The bookkeeper should be able to archive all of your important paperwork in their secure database. Providing your documents should be as easy as sending in pictures , scanning and emailing them, or mailing them to the bookkeeper. ATBS just recently launched the new ATBS Hub , which makes working with us even easier! With the Hub, you’ll be able to scan or import receipts, settlements, and other documents with just a few taps. The bookkeeper will then be able to use the receipts to prepare accurate monthly profit and loss statements for your business. If you ever need any of these files back, a good bookkeeper will be able to easily find and send back electronic copies of the receipts or files that you need at any time. Secure Online Portal The next thing you should look for in a bookkeeping service is a secure online portal where you can view your digitized documents and review your profit and loss (P&L) statements at any time. With a secure online portal, you don’t have to go into an office or call your bookkeeper to access your information. This is especially convenient for truck drivers who are on the road and aren’t always able to go in and talk to their local accountant. With a secure portal, you can log in to your personal account at any time and know that your information is safely password-protected. When you log in to the portal to review your data, you should also look for a bookkeeper that will allow you to call and ask questions without charging extra fees. Industry Benchmarking Another thing you should look for when deciding on a trucker’s bookkeeping service is a company that has industry-specific benchmarking. Ideally, you’ll want to look for a company that works with other truck drivers so you can compare your numbers to similar sized businesses in the trucking industry. Comparing your data to other owner-operators allows you to see the areas where your business is performing better than your peers, as well as the areas where you can improve. A good bookkeeper will be able to use this information to help you figure out where to make adjustments in your business to both earn and keep more money. Tax Reconciliation Looking for a bookkeeper that does tax reconciliation will also be beneficial for your trucking business. A bookkeeper that includes this service will analyze and categorize your revenue and expenses rather than just blindly inputting the data. With high quality tax reconciliations, you will be sure everything has been properly captured and accurately categorized in your profit and loss statement, and if something is missing, your bookkeeper should notify you about any discrepancies. For example, if you utilize a bookkeeper who offers tax reconciliation services as well as industry benchmarking data, they can help you spot expense documentation you may have forgotten to send. If the average owner-operator is spending 30% of their revenue on fuel, and you only show 10% of revenue spent on fuel, your bookkeeper should be able to alert you to the discrepancy. From there they can figure out if you have not sent all fuel expense documentation that needs to be submitted, or if you simply spent less on fuel. Tax Preparation and Bookkeeping - Together Lastly, you want to look for a bookkeeper that will also calculate your tax estimates. As an owner-operator, you have to pay quarterly tax estimates based on your profit. If your bookkeeper also calculates your tax estimates, they are able to use your P&L statements throughout the year to let you accurately know how much your estimated tax payments should be. Paying quarterly tax estimates ensures you don’t pay additional interest, fees, or penalties to the Internal Revenues Service (IRS), and you should always seek out a company that will help you calculate those estimates so you don’t pay more than you should to the IRS. Many preparers simply use last year’s tax return to calculate your current year's tax estimates. However, trucking is an ever changing industry and you need a service that offers current year, timely, tax estimates based on how you are performing now, not what happened last year. Also, having a bookkeeper who prepares taxes makes it easier to file your tax return. Your bookkeeper understands your business and has been keeping track of your revenue and expenses all year - this reduces the chance of errors during tax season since your tax preparer won’t be scrambling to do your bookkeeping all at once. If your bookkeeper and tax preparer work together, they can find all the legal deductions you are entitled to, so you don’t pay more in taxes than you have to. This option is a lot more efficient and more accurate than giving your documents to a tax preparer who doesn’t know your business. What trucker bookkeeping service should I hire? Proper bookkeeping will help keep you and your business on the road. Using these guidelines while you begin your search for a bookkeeping service will help you make an informed decision that will benefit you in the long run. At ATBS, we have helped over 150,000 owner-operators over the past 20+ years run a more profitable business that allows you to spend less time stressing about the books and taxes and more time on things you enjoy. We offer a variety of services including bookkeeping, accounting, and tax preparation, and we understand the importance and impact that these services have on a successful operation. We also offer unlimited business consulting for our RumbleStrip Professional clients. A dedicated business consultant will help you keep your business “between the lines” just like rumblestrips on the highway keep your truck between the lines. If you’d like to learn more about ATBS services or want to get started today, give us a call at 866-920-2827 .

Making the transition from company driver to owner-operator is a big step. You will now be your own boss and will need to set yourself up for happiness and success. There are many things to consider when thinking about starting a trucking business. Before you go down this new path, here are five steps you have to take to start your own trucking business with one truck. Click Here to Download our "Starting a Trucking Business Checklist" Write up a business plan Before you start a trucking business, the first thing you should do is write up a business plan . Understanding how your business is going to operate might change over time, but writing out the basics will provide you with a roadmap. Within your business plan, include things like the type of trucking business you want to run. Are you going to run a dry van operation? Maybe you want to focus on specialized loads. It’s also important to describe how you plan to differentiate your operation from others. Another important aspect of any business plan is your vision for growth. Are you interested in bringing on a team driver or even adding additional trucks in the future? While some of these items might change over time, putting your ideas on paper will help give you a plan you can follow. Decide what kind of entity you want to be As an owner-operator, an important decision you will have to make is the business structure of your company. The three most common types of entities for owner-operators are sole proprietorship, S corporation, and a limited liability company (LLC). When deciding on your business structure, the two main factors to consider are owner liability and income taxation. Each structure comes with different tax consequences so it is important you make your decision based on your business needs. Here is a free e-Book that goes into much more detail on the different business structures. Decide what carrier you want to drive for When a driver decides to become an owner-operator, most will make the decision to start by leasing with a carrier rather than getting their own authority . By doing this, you still have the freedom of being your own boss, but you will have the protection of somebody finding loads for you and paying some of the upfront costs. This means you will have to decide what carrier you want to drive for . A few of the things that should be considered is where you want to drive, what type of operation you want to run, and how the fleet treats owner-operators. Carriers will list what parts of the country you will be driving in and what types of freight you will be hauling. Once you have found a few options based off of your driving preferences, you should do a little research on the reputation of each fleet. Figure out how much they pay per mile, if they pay their drivers on time, if they consistently have loads available, and any other information that is important to you in deciding what carrier to lease on to. Get your own truck The most important thing you will have to do before starting a trucking business is getting your own truck. It will be very difficult to purchase a truck up front, which means you will have to decide whether to do a lease-purchase program with a carrier, or purchase a truck through a truck financing company. Lease-purchase programs are available from a wide variety of carriers. Through this program, you won’t own the truck, but you will be making monthly payments on the truck until the contract is up. At that point, you can purchase the truck or start a new contract with the same or different carrier. While you are in the lease-purchase program, many carriers provide benefits including discounted fuel and maintenance. You can also decide to purchase a truck through a trucking-specific financing company. This way you don’t have to lease your truck through the carrier you decide to drive for. When you finance a truck, you slowly make payments on the truck until you eventually own it. Financing your truck allows for more freedom in deciding what carrier you want to drive for. Hire a business services provider to help start your trucking business Hiring a trustworthy professional business services provider, like ATBS, will help accomplish all of the things you have to do before starting a trucking business. ATBS has been in the trucking industry for 25 years, which means we have helped thousands of owner-operator truck drivers make these decisions. We can help with your business plan, with deciding what entity to choose, and help you determine the best path towards owning a truck. Once you have made these decisions, we can continue to help with all of your tax, bookkeeping , and accounting needs while you focus on driving. We will also continue to be available to help with any business decisions during your time as an owner-operator. Are you a self-employed truck driver that wants to learn more about ATBS services? Click here! --- Over 150,000 owner-operators have made the choice to hire ATBS over the past 25 years. We offer a variety of services including accounting, bookkeeping, and tax preparation. We also offer unlimited business consulting for our RumbleStrip Professional clients. A dedicated business consultant will help you keep your business “between the lines,” just like rumblestrips on the highway.

Accounting is the process of recording, measuring, and communicating information about the financial transactions taking place in a business. Accounting often helps determine the financial position, results of operations, and cash flows of a business. As an owner-operator truck driver, accounting is an important part of running your business. With this information, you’ll be able to tell how your business is performing and if you’re profitable. Are you a self-employed truck driver that needs help with your accounting, bookkeeping, or taxes? Click here! At ATBS, we can help with your accounting by reviewing your financial records and transactions to prepare your monthly profit and loss statements. With these profit and loss statements, we can analyze how you’re performing in different areas of your business. From there, we can advise you of areas where you’re performing well and areas where you need to improve based on the financial results of other owner-operator truck drivers in the industry. With this information, we can provide you with your quarterly estimated tax payments and prepare tax returns for you at the end of the year. With our secure client portal, you’re able to view all of this information at any time. If you have questions about your financial statements or how to improve in certain areas, you can speak with your dedicated business consultant who can discuss strategies to implement and improve your business. If you aren’t keeping track of your numbers and reviewing them consistently, you’re operating your business in the dark. Most successful business owners will tell you the key to running a successful business that reaches its goals is a strong understanding and reporting of their revenue and expenses. Strong accounting practices are critical to achieving long term success and profitability. At ATBS, we have helped over 150,000 owner-operators over the past 20+ years run a better business. We offer a variety of services including bookkeeping, accounting, and tax preparation , and we understand the importance and impact that accounting has on a successful operation. We also offer unlimited business consulting for our RumbleStrip Professional clients. A dedicated business consultant will help you keep your business “between the lines” just like rumblestrips on the highway keep your truck between the lines. If you’d like to learn more about ATBS services or want to get started today, give us a call at 866-920-2827 .

Roadside inspections are a critical part of the trucking industry. They help ensure that truck drivers are compliant with the laws and are operating safely on the road. It is important you are ready for the possibility of a roadcheck each time you depart for the day. Failing a roadcheck will result in time off the road and money lost for you and/or your trucking business. In order to avoid violations the next time you are stopped, follow these tips to make sure you are prepared for Roadcheck 2025. Know what to expect from Roadcheck 2025 The best way to prepare for your next roadcheck is to know what to expect. If you have gone through a roadcheck before, this will be simple. Just keep in mind what was checked and remember to make sure all of those elements stay in proper condition. If you have not gone through a roadcheck, just know that a majority of inspections are level 1 inspections . The parts of your truck that will be inspected during a level 1 inspection include: All sides of the tractor and trailer Tires, wheels, rims, and hubs Brakes Lights Major safety components Proper load securement Along with the parts of the truck that will be inspected, you will need to make sure you have the proper paperwork and identification, which we will go over in more detail later in the article. If you are driving during the annual CVSA Roadcheck Inspection Blitz, there is always one element of the truck that will get special attention. This year’s inspection blitz will be held May 13-15 with a focus on tires and truck driver hours of service. Make sure your truck is well-maintained If you know what to expect during a roadcheck, you will know exactly what you need to maintain on your truck in order to avoid any violations. Prior to getting on the road, you should go through your pre-trip inspection to make sure there aren’t any problems. This will not just make sure you are able to pass a roadcheck but it will also make sure you are safe on the road. A few things you should make sure you check during each pre-trip inspection are: Under the Hood (engine, hoses, wiring) Tires, Wheels, Rims, Hubs Tread Depth Brakes Tire Pressure Lights Load Securement If you have been a successful trucker for a while, you know to go through with these pre-trip inspections each time you are about to go out on the road for the day. Bonus Make sure your truck is neat and clean! A filthy truck with trash on the dash or obviously loose parts bungee corded together is an easy way to get a DOT officer’s attention. A clean and neat-looking truck just might get a driver a pass while the inspectors are busy seeing what maintenance or safety items the driver of the dirty truck does not seem to care about.​ Have the appropriate paperwork In order to be prepared for Roadcheck 2025 you will need to make sure you have the appropriate paperwork. Make sure it’s organized and that you know exactly where it’s located. This way, when it comes time for your roadcheck, you won’t have to waste time looking for it. A few of the documents you should have ready are: Drivers License/CDL Proof of Insurance Medical Examiners Certificate Record of Duty Status Daily Vehicle Inspection Report Periodic Inspection Reports Shipping Papers Vehicle Inspection Certificate Skill Performance Evaluation Certificate Having these documents is just as important as having your truck and trailer in order. Failure to prove you are in possession of these documents will result in violations and time off the road. Comply with all of the rules and regulations With hours of service (HOS) and ELD rules in place, it’s important for the trucking industry to make sure these rules and regulations are being followed. This means that HOS rules and staying ELD compliant have become essential elements of any roadside inspection. Although your ELD will record your HOS information automatically, it’s important to still understand how these rules work. It will also be worth your time to learn about how specific HOS rules apply to you and if you qualify for any HOS exemptions. In order to avoid any ELD violations, make sure your device is functioning properly. If not, make sure you follow the procedures for reporting a malfunctioning device. If the device is malfunctioning, make sure you have a copy of the user manual, instruction sheet, and a supply of blank ‘records of duty’ sheets. What happens after a roadcheck? After Roadcheck 2025, you will learn whether or not you pass or fail. Passing would mean that no critical violations were found. You will receive a CVSA decal to display on your vehicle to indicate your vehicle has successfully passed. Failing would mean critical violations were found. If you fail, your vehicle will be placed out of service and won’t be able to operate until the vehicle or driver violations are corrected. If you have any questions about how to prepare for Roadcheck 2025 or how to get your truck back in service after failing a roadcheck, give us a call at 888-640-4829.

As we move past tax season, it's the perfect time to organize your financials. But where do you start? If you have boxes full of bank statements or investment summaries, you might be a little unsure of how long to keep everything. Below you will find our guide for how long you should store all of your important documentation. This will help you to reduce your financial clutter. What to keep until the warranty expires or the return period is passed Sales receipts - unless you need them for tax purposes, and then you should keep them for three years. What you should keep for one month ATM printouts - These can be discarded after you balance your checking account each month. What to keep for one year Paycheck stubs - These can be thrown away once they have been compared to your W-2 and your social security statement. Utility bills - These can be thrown away after one year, unless you are claiming a home office. If you are, then they need to be saved for three years. Cancelled checks - If these are needed for tax purposes then they should be saved for three years. Credit card receipts - If these are needed for tax purposes then they should be saved for three years. Bank statements - If these are needed for tax purposes then they should be saved for three years. Quarterly investment statements - Keep until you receive your annual statement. What to keep for three years Income tax returns - Keep in mind that you can be audited by the IRS for up to three years after filing your taxes. If you don’t file a tax return at all, there is no statute of limitations. Medical bills and canceled insurance policies Records of selling a house - You will need this for capital gains tax Records of selling a stock - You will need this for capital gains tax Receipts, canceled checks, or other documents supporting income, or deductions on your taxes - Keep for three years from the date the return was filed, or two years from the date the tax was paid, whichever is later. Annual investment statement - Keep for three years after you sell your investment. What to keep for seven years Records of satisfied loans What to keep while active Contracts Insurance documents Stock certificates Property records Stock records Records of pension and retirement plans Property tax records and disputed bills - Keep the bills until the dispute is resolved. Home improvement records - Hold for at least three years after the due date for the tax return that includes the income or loss on the asset after it’s sold. What you should keep forever Marriage licenses Birth certificates Wills Adoption papers Death certificates Records of paid mortgages

I have been in business for myself for some time now. It’s easy for us as humans to become complacent and operate things on routine. But with new technology and business advances happening every day around us, it’s important for me to take time to evaluate how my business is doing in terms of changes happening in our industry. As a business owner, if I find that I have a cutting edge in the industry, just like a good knife needs to be sharpened, I too need to stay active and up to date. I must take the time necessary to plan and adapt to changes in the marketplace. Knowing business costs and expenses is a vital part of an evolving business. Reflect on how I obtained my customers. Was it because I was cheaper, faster, offered better service, or was it just luck that I called at the right time when they needed a carrier?  When I meet with my financial planner at the end of each year, we discuss next year’s plan and look ahead to ways to reinvent my business. The key is to stay fresh and ahead of the competition. Effective business planning should be done regularly each year. For me, it’s a good game plan to use the SWOT Analysis each year. By gaining an understanding of my Strengths, Weaknesses, Opportunities, and Threats, I can get a good picture of how my business is performing and what areas may require attention.  You can also keep up to date and current with your industry by doing the following: Attend industry meetings and conferences Plan time to meet with your Accountant/ Financial Advisor to discuss business affairs Attend leadership, management, or business training events within your industry Take training courses when necessary Write a strategic business plan of action for each year How you plan and how you adapt to evolving changes in the industry will determine if your business can survive and thrive in an ever-changing marketplace.

So, you want to take advantage of home office tax deductions on your tax filing? With more and more Americans conducting work from home, this is a method for lowering your tax liability. If you are a self-employed individual, and you use a portion of your home for work-related activities, you could deduct home office expenses. While this is an available deduction, it is one that brings some risk and could flag the Internal Revenue Service to audit your tax return. You will want to understand the IRS requirements before you claim a home office deduction. Standard Home Office Requirements Before you claim any home office deduction, you must have an area inside your home used regularly and exclusively for work-related activities. In other words, a fax and computer in the corner of a bedroom used occasionally for sending out marketing pieces will not qualify as a home office in the eyes of the IRS. Another key word in this requirement is “exclusive”. The area designated as a home office must have exclusive use as a home office. It is a principal place of business or a location designated to “meet or deal with patients, clients or customers in the normal course of your business”, according to the IRS. On the other hand, a “separate structure not attached to your home” may also qualify as your home office. Not long ago, the IRS expanded its definition of business activities that can be considered in determining whether a taxpayer’s home office is their principal place of business. Today, if a home office is used “exclusively and regularly for the administrative or management activities of your business”, it does qualify. In addition, administrative activities such as billing operations, managing your books and business records, ordering office supplies, or setting up business meetings and appointments also qualify. Just be sure these activities are ones taking place in this location. Employees or Schedule C Taxpayers In the past, Independent Contractors, and employees who work from home could claim the deduction. With 2017’s Tax Cuts and Jobs Act, the deduction is no longer available for employees. This change affected all employee business expenses but was offset by a significant increase in the standard deduction. Limits on Write-offs The law places caps on the amount you can deduct from the business use of your home. Generally, your home office deductions can’t exceed your home-based business income. Also, if you have to pay Alternative Minimum Tax (AMT) when you itemize deductions, the home office deduction may be a contributing factor. Finally, if you depreciate a portion of your home as part of your home office deduction and later sell your home at a profit, you will pay a capital gains tax on the total amount of the depreciable deductions. Home Office Deductions Once you meet the IRS requirements, there is a long list of items you can deduct including: Office equipment A portion of real estate taxes paid Mortgage interest Rent Home utilities Insurance Depreciation Painting and general upkeep expenses Repairs Landscaping, only if you receive clients or customers at your home for business Note: These apply proportionally to the size of the office in relation to the size of the home. If you are self-employed, a good reference to use is IRS Form 8829, which is called, “Expenses for Business Use of Your Home” to compile and calculate all home office deductions. Furthermore, you will need to report these deductions on Form 1040 Schedule C, Profit or Loss From Business. In 2013, an alternate, Simplified Method, was put in place making it easier to claim the deduction. You must still meet the “regular’ and 'exclusive” requirement for Expenses for Business Use of Your Home, but you don’t need to depreciate the home or keep track of the various expenses. Instead, you merely list the square footage of your space and you will receive a $5 per square foot deduction up to 300 sq ft or $1,500. This amount often exceeds the actual expense method, and you don’t have to pay capital gains due to depreciation when you sell your home. Tread Carefully As a taxpayer, you want to be sure to get every tax deduction you deserve. But there is some risk to this endeavor which is an increase in the likelihood of an IRS audit. In fact, the IRS has increased its vigilance in identifying home office deduction fraud, so you will want to be sure and remain compliant. ATBS has been filing on behalf of self-employed contractors and employees of companies since 1998. Every year our trained staff is judicious in ensuring you get every legal tax deduction you deserve. Our excellent relationship with the federal government, our team of tax resolution specialists, and our staff of CPAs and Registered Tax Return Preparers translate to knowing more than any other firm how to file for the most tax deductions you legally deserve. Let ATBS help you with your taxes – call us today at (866) 920-2827.

Back on March 27th, 2025, representatives Pat Ryan (D-NY) and Zachary Nunn (R-IA) reintroduced legislation to establish a refundable income tax credit for qualified commercial drivers. First introduced by representatives Mike Gallagher (R-Wisconsin) and Abigail Spanberger (D-Virginia) in April 2022, the bipartisan Strengthening Supply Chains Through Truck Driver Incentives Act would provide short-term incentives to attract and retain new drivers. The lawmakers expect the bill to do three things: Create a new refundable tax credit of up to $7,500 for truck drivers holding a valid Class A CDL who drive at least 1,900 hours in the year. This tax credit would last for two years. Create a new refundable tax credit of up to $10,000 for new truck drivers or individuals enrolled in a registered trucking apprenticeship. This tax credit would also last for two years. Allow new truck drivers to be eligible for the credit if they did not drive a commercial truck in the previous year or drive for at least 1,420 hours in the current year. They may receive a proportion of the credit if they drive less than 1,420 hours in the year, but drove at least an average of 40 hours a week upon starting to drive. The Gallagher-Spanberger legislation is endorsed by several associations including the American Trucking Association, American Loggers Council, National Grocers Association, International Foodservice Distributors Association, American Building Materials Alliance, Forest Resources Association, Hardwood Federation, Wood Machinery Manufacturers of America, Third Way, and National Pork Producers Council. Also in 2023, Reps. Dusty Johnson (R-South Dakota) and Jim Costa (D-California) introduced the Safer Highways and Increased Performance for Interstate Trucking (SHIP IT) Act, a bill that, among other things, also called for a temporary $7,500 tax credit for eligible drivers. That bill puts a cap on eligibility linked to adjusted gross income for the taxable year not exceeding $135,000 for couples filing jointly; $112,500 as head of household; or $90,000 individually. New truck drivers who did not drive a truck during the preceding tax year would also be eligible for $10,000 under the same rules. Since these bills were reintroduced in the House early in 2025, there have been no further updates. So at this time truck drivers will not be eligible for any new “truck driver tax credits”. However, there are still plenty of tax credits and deductions truck drivers are eligible for. If you would like to learn more about these and make sure you’re paying as little as possible to the IRS, feel free to contact us . We will continue to keep an eye on any developments when it comes to this legislation and update this article as necessary.