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Owner-operators know that preventative maintenance on their truck pays off in the long run. Industry estimates say PM can cut your breakdown costs in half. Maintaining the health of your truck is important, but taking care of yourself is an invaluable part of being a successful owner-operator. Here are the top three tips on how to use personal maintenance to be healthy — by staying out of the doctor’s office and on the road. Perform a pre-trip check of your refrigerator. Just like you perform a pre-trip check on your truck; always inspect your fridge or your cooler before a trip to make sure you have healthy food packed. Foods like turkey wraps or all-natural peanut butter and whole grain sandwiches are rich in protein and lean in fat. Have healthy meals packed to prevent you from stopping for unhealthy convenient food. Getting stuck in traffic or bad weather is inevitable, so be prepared with extra meals to keep you driving past the drive-thru. Stay hydrated. Your truck stays hydrated with fuel; you constantly have to replenish fuel to keep it running. Your body is composed of approximately 70% water and needs to be hydrated to keep it running. That doesn’t mean drinking a lot of caffeinated liquids. (High doses of caffeine can cause anxiety and irritability, high blood pressure, and increased cholesterol.) If you are tired and think you need caffeine to stay awake, try drinking water first and wait 10-15 minutes to see if it wakes you up as you could just be dehydrated. If you’re still in desperate need of caffeine, try some of the new flavored green teas like Lipton’s berry flavored diet green tea. It has 1/3 of the caffeine a cup of coffee or soda has and still tastes great. Utilize your truck as a piece of workout equipment. You would never skip an oil change if you want the engine to last. A workout is a routine form of maintenance that your body cannot go without if you want it to run longer. It’s true that working out when you’re traveling is not easy. Getting to a gym is not always convenient, especially when you are working long, odd hours. But a terrific piece of workout equipment is always with you. While waiting for a load or unloading, use your truck as a piece of workout equipment. Drivers can build up their cardio by walking around their truck and adding weights or water jugs to increase the intensity. You can also do “push-offs” off the fender to strengthen your arms and core muscles. The steeper the angle between you and the truck, the more weight you add to a push-off. Staying healthy is an essential part of running your business successfully. Steer away from disaster and the doctor’s office by using preventative maintenance to keep your body (and your business) running smoothly. For more information on how to stay healthy on the road, visit Rolling Strong! Image Source: https://www.flickr.com/photos/blair25/

Owner-operators are challenged daily with being a reliable driver and a competent business owner. For new owner-operators, owning your business and the managing the responsibilities that come with the business can be overwhelming. Take a moment to review our strategies for owner-operators to achieve and maintain business success. Being a responsible driver is not a new concept. Safety rules and regulations are always changing and even the seasoned owner-operator needs to stay informed. Here are some essential tips to stay safe and lucrative while on the road: Pre-Trip Inspections Doing this before every trip will make you immediately aware of any potential issues, and will help ensure the safety of your rig and the safety of others on the road. Logbook It’s important to keep your logbooks up to date and in compliance. It’s a DOT requirement that you keep a logbook of your driving. Your receipts and toll fees are used to corroborate your logbook so keep it as accurate as possible. Practice Safe Driving Habits Safe driving habits are essential to the performance of your truck and your business. You should always be aware and willing to stop driving when driving conditions are unsafe due to traffic, weather, etc. Getting enough rest is especially important so you are alert while driving. Choose Loads Wisely Make wise decisions regarding what loads to carry. You know your schedule and your ability better than anyone else. Never take more loads than you can reasonably handle, and always be certain the profit is worth the drive. CSA Compliance Ensure you and your rig are in compliance with all the rules and regulations –federal, state, county, and city. CSA can shut down your business and have your license revoked if you do not meet their safety standards. Find more information on the CSA’s requirements and repercussions here. Personal Health Maintaining personal health is not only beneficial to you, it’s also important for your business. The CSA has a list of physical qualifications you must meet to qualify as a fit driver. You may need to be able to lift and carry on a regular basis for your business. Also, a sickness or injury could put you out of commission for awhile. Therefore, staying healthy and injury-free is an essential aspect of your long-term success. Being organized and financially responsible is imperative for success. This can be a big change for company drivers who did not have to take on the additional responsibilities listed below: Calculate Your Profit Potential Getting the most profit and operating with the lowest costs are the main priorities for any business owner. Stay educated and informed on your business performance. A company like ATBS can be a great resource to help you calculate and understand your profit potential. ATBS can provide you a monthly Profit & Loss Statement to show fixed and variable costs. They also benchmark your data against others in the industry to help you understand how your business is doing compared to your peers and highlight areas for improvement. Communicate Effectively Your customers should be kept informed of your schedule, especially if there are any changes. Unsafe conditions, mechanical problems, or other factors that can affect timing should be communicated in a forthright and professional manner. Be On Time Making all of your pickups and deliveries on time is important to your customers. A reliable reputation could make or break your business and can always influence the loads offered. Control Costs Monitor fuel usage to get the most reasonable mileage. Take care of your equipment and do regular maintenance and repairs as they arise. This can help prevent major mechanical expenses in the future. Pay Your Taxes As a company driver, your carrier was responsible for paying your taxes. As an owner-operator, you are now responsible for determining the correct amount and sending it to the IRS every quarter. To receive your maximum tax return, accurate records must be kept of estimated tax payments and to prepare your taxes . Having accurate financial records and setting money aside for taxes is an invaluable practice that will alleviate stress come tax season. Be Productive Be aware of the freight schedule and plan accordingly. Just because you can take time off, doesn’t mean you should. So when you schedule your days off, make sure you’re taking your business’ needs into account. It’s important to know what your breakeven miles are to understand how best to manage your time and schedule. Your breakeven mileage is the minimum number of miles you need to run each month to cover your expenses; everything after that number is profit. You do a lot more than drive a truck down the highway. With so many responsibilities, the role of a driver can be complicated and, at times, overwhelming. But once you learn to manage the many different responsibilities of an owner-operator it can be a very enjoyable and rewarding profession.

While both tax relief and bankruptcy can alleviate the burden of debt, they serve different purposes and come with their own set of advantages and disadvantages. Tax relief focuses exclusively on resolving tax debts, whereas bankruptcy addresses a broader range of financial issues, impacting one's overall financial standing. While bankruptcy can include tax debts, it doesn’t always cover them. The decision between seeking tax relief or consulting a bankruptcy attorney to initiate a bankruptcy filing should be made after careful consideration of one's financial situation, the type of bankruptcy applicable, and the nature of the tax debts in question, as well as what other unsecured or secured debts you are carrying. This article aims to explore the nuances of tax relief and bankruptcy, comparing their benefits and limitations. By outlining the decision-making process, we hope to assist you in determining the best path for your unique circumstances. Understanding Tax Relief Tax relief refers to programs and options available to taxpayers who are struggling to pay their tax debts. Getting caught up on taxes includes: Becoming IRS Compliant - Get caught up on prior year tax filings Negotiating with the IRS - Set up a payment plan with the IRS to address outstanding debts Managing IRS Compliance - Stay up to date on payments and filings so you don’t fall behind Advantages of Seeking Tax Relief: Preventing the accrual of additional interest and penalties Avoiding more severe IRS actions like wage garnishments and tax liens Offers potential reductions in the total amount owed through various IRS programs Obtaining tax savings longer term if you cannot afford to pay your debt within collection statutes Disadvantages of Tax Relief: May require disclosing extensive financial information Not all taxpayers qualify for all relief programs Relief options like Offers in Compromise can be difficult to obtain May result in Federal Tax Lien filings depending on how much you owe The goal of tax relief is to not only get caught up on past due taxes but to establish a plan to stay in compliance moving forward. Any missed payments, new balance, or delinquent tax return will default any existing agreement, requiring you to start the process all over again. A further goal of Tax Relief is to be sure your other ordinary and necessary living expenses are not sacrificed in the interest of paying back taxes. This prioritizes leaving your other normal household expenses untouched by a proceeding like bankruptcy and provides targeted support of your tax debts specifically. Overview of Bankruptcy Bankruptcy is a legal process designed for individuals or businesses that cannot meet their financial obligations. It offers relief from debt, often at the cost of assets or future financial flexibility. The two primary types of bankruptcy for individuals are Chapter 7 and Chapter 13. In Chapter 7 bankruptcy, assets are liquidated to pay off debt, offering a fresh financial start, but not everyone qualifies, as it requires passing a means test. Chapter 13 bankruptcy, suited for wage earners with regular income, allows for a reorganization of debts through a payment plan over three to five years. Advantages of Filing for Bankruptcy: Immediate relief from collection activities (e.g., wage garnishments, calls from creditors) Discharge of certain debts Opportunity to rebuild credit over time Disadvantages of Filing for Bankruptcy: Negative impact on credit score Public record of bankruptcy filing, potentially impacting future opportunities for loans or employment Potential loss of property Certain debts like student loans are not discharged Tax Debt is not dischargeable in many cases, depending on the age of the debt People behind on their tax filings may have a more limited impact on their tax debt since any newly filed returns would not qualify for discharge in most cases Bankruptcy can offer a fresh start or restructured repayment, but the implications on credit and personal finance are significant. Consulting with bankruptcy lawyers on eligibility and carefully considering all options is crucial before initiating a bankruptcy petition. Comparing Tax Relief and Bankruptcy Tax relief and bankruptcy are two distinct approaches for dealing with financial difficulties, specifically concerning tax debts as well as other financial obligations. Bankruptcy is a broad legal process that impacts all debts that are owed, while tax relief focuses specifically on resolving tax-related issues. Bankruptcy can damage your credit score and limit future financial opportunities. It also stays on your credit report for several years and can affect your ability to secure loans, mortgages, or even certain job opportunities. Tax relief aims to resolve your tax debts without the severe and lasting consequences of bankruptcy. Bankruptcy may involve liquidating assets or following a court-mandated repayment plan. This process can result in the loss of homes, vehicles, or personal possessions. Tax relief aims to protect your assets while negotiating with the IRS to settle tax debts through manageable repayment plans or other arrangements. While not all assets are salvageable, Tax Relief can often provide options that do not include all loans or assets when calculating the ability to pay. Lastly, working with a tax relief professional, like ATBS’ Tax Resolution Team, is a proactive approach that helps you establish better financial practices and avoid future tax problems. We don’t just help resolve past tax debt but try to set you up with strategies to help you better plan, budget, and manage your future finances. ATBS is truly a one-stop-shop for drivers seeking tax, tax debt, and consulting assistance. Determining the Best Path for You When determining the best path for managing overwhelming debt, it’s crucial to assess your financial situation by examining your debts, personal loans, income taxes, and assets. This assessment helps in choosing between tax relief options and bankruptcy filing. Consider the following factors for personal circumstances: Type of debt - Are you dealing with tax debts, or do you have a mix of debts including credit cards and loans? Amount of debt - How large is your overall debt, and how much of it is tied to taxes? Ability to make monthly payments - Can you afford to repay your debts through a repayment plan? Legal Actions - Are you facing wage garnishments, tax liens, or other collection activities? Whether you're considering tax relief, bankruptcy, or a combination of both, seeking advice from experts is critical. ATBS’ Tax Resolution Team specializes in IRS collections and can guide you through the complexities of tax relief. If bankruptcy is also on the table, we recommend consulting with a bankruptcy attorney to explore all available options. Have questions? We're here to help! Call us at (866) 920-2827 or visit our website at www.atbs.com to learn more about your options.

By Jake Krough Recently, it has become more common to see a female behind the wheel of a big rig. However, there is still a lot of room to grow in this area of the industry. Associations like Women In Trucking are continuing their push to introduce more women to trucking and break some of the norms in an industry that has long been dominated by males. I spoke with long-time Women In Trucking member Linda Caffee and asked her some questions about life on the road for female truck drivers. Linda has been driving as a team with her husband Bob since 2005 but has been driving trucks for many years longer than that. After our conversation, I was left feeling encouraged, knowing that we have women like Linda representing females in the trucking industry. What is life like for female truck drivers? When I first asked Linda about what life is like as a female truck driver she responded with “Awesome”. She went on to explain that women are a viable force in the trucking industry and that the number of women entering the industry continues to grow. Overall, Linda explained that life as a woman truck driver is not that different than life as a male truck driver. This is because the truck and the freight don't care who is driving, as long as it gets to where it needs to go. However, I did learn that women tend to do things a little differently. One of the main differences is that women tend to drive with more finesse, while men tend to drive a bit more aggressively. This is not always true but is a common trend that Linda has noticed. Another thing women do a little differently is talk to each other more compared to men. Women being more vocal is part of what has attributed to the number of women in the industry continuing to grow. Ultimately, Linda explained that it’s all about a woman's attitude and the way they carry themselves that will define what life is like for them on the road. How has the industry changed for female truck drivers? Overall, the trucking industry has become a lot more accepting of female truck drivers. Linda explained that some in the industry used to not be accepting of women truck drivers but now that sentiment is starting to change. Another big change is the way the new trucks are built. Trucks used to not fit people who were too short or too tall, but now they are built to be adjusted for anybody. This used to be a big disadvantage for women to be able to drive a truck. For example, Linda used to carry around a pillow to sit on in order to fit and be comfortable in the truck. Lastly, truck stops now have showers that can be used privately by both women and men. When Linda first started, someone would have to guard the door while a woman would shower. Now, not only are showers private, but they are also more homey and comfortable. Overall, the industry has changed to be more accepting of women drivers and other truckers have been embracing the change. What are the biggest advantages and disadvantages of being a female truck driver? Linda brought up that a lot of women thinking about getting in the industry are scared about being on the road because they might not get to see their family as much. It’s true that you may not be able to attend special family events due to scheduling conflicts, or you may be away from home at a time when your family really needs you. However, in some circumstances, you may be able to see your family more than you would in other professions. Also, truck drivers are almost always available to talk to friends and family on their headset while driving. Another advantage that was previously mentioned is that in terms of the work that needs to be done, there is no distinction between who is driving. When you are choosing a load, nobody knows whether it is a man or woman who is driving, and the pay is the same. The load and the truck don’t discriminate. One of the major disadvantages, according to Linda, is that women may have the tendency to become somewhat of a hermit in the truck. Women may feel more timid and not want to get out of the truck because there aren’t as many other women at truck stops. To combat this, Linda recommends that women truck drivers avoid dark truck stops, stay in lighted roadways, and walk with a purpose. This will help defer potential scare tactics by other drivers. Another way to help be less timid is to stay connected with other women in the industry through social media and other female truck driving groups. This allows you to build a network of women drivers to communicate with while on the road and potentially plan meet-ups to share experiences and support each other. How do you see the landscape changing for female truck drivers in the future? Linda sees the landscape continuing to get better for female truck drivers. The good news is that better trucks and accommodations are already available, which will help continue to bring more women into the industry. If a change towards fewer long-haul loads and more terminal-to-terminal loads takes place, it could be beneficial to woman truck drivers. This would make it more likely for women to do the job because they will have the opportunity to be home more often. Additionally, as women share their positive experiences on social media, it will likely encourage more women to give trucking a try. Every day, there are more ways to network with other women, ask questions, and share experiences. Oftentimes, when a woman learns how to drive a truck, they realize it’s not as hard as it may seem. This will help continue to change the landscape for female truck drivers. What can we do to attract more female drivers? As an industry, the main thing that we can do to attract more female truck drivers is education. This will allow women to realize that there are actually a lot of other women in the industry. Education will also allow females to get up in a truck and realize that trucks have become easier to drive. There are so many safety features now that it almost feels like driving a luxury car. Also, the high visibility inside of the truck makes driving one less intimidating. When you are driving, you can see everything in front of you and it helps you feel more in control with more time to react. Linda feels that she actually has more control over a truck than a car. Lastly, over the years, other drivers have gotten a lot better at sharing the road with truckers. Most of the time, cars treat trucks with respect and know how to drive around a truck. When you turn on your signal, cars are now more likely to give you a chance to get over. A truck has become easier to drive and it is not as intimidating as it once was. Sharing this information with potential women drivers is what will ultimately bring more of them into the industry. -- Much of this information comes from the experiences of Linda Caffee, who is just one of over 200,000 female truck drivers currently on the road. We understand that other women truck drivers will have different experiences and thoughts about the industry. For more information about Linda Caffee, click here .

As a society, it has become less common to have conversations with others face-to-face. This is true for almost everybody, including truckers. Because of this, online forums have become a great place for truck drivers to converse with others in the industry. These forums are commonly used to ask questions, look for answers, discuss industry topics or news, talk about personal interests, etc. If you are looking for a place where you can communicate with other truck drivers, here are five trucking forums that you should follow. Truckers Report  The Truckers Report forum currently has over 243,000 members, 321,000 discussions, and 6,700,000 messages. There are many categories including Good & Bad Trucking Companies, Owner Operators, Trucking Industry, Trucking Tools, etc. The forum allows you to see the title of the most recent post, who made the most recent post, and how long ago the post was made in each category. Many of the categories have new posts made every hour and the forum seems to remain very active.  Trucking Truth TruckingTruth was founded in January 2007 by 15-year trucking veteran, Brett Aquila. Brett created the forum to help people better understand the industry and make the best choices for their career. The forum is neatly organized with straight-forward categories. There is a general forum, a CDL training forum, and a Ladies of Trucking forum. You can also search for discussions based on a certain topic, and look back at some of the most helpful comments made on the forum over the years. Lastly, the forum has help videos where you can learn about the different categories and how to use the different features available when leaving a comment.   Freight Relocators The Freight Reolcators forum currently has over 13,000 members, 35,000 threads, and 530,000 messages. Within each forum, there are sub-forums that discuss topics that are even more specific to what you are looking for. The home page also allows you to see the latest posts across all of the many categories and the latest resources where members discuss different products or services that they are using to help them on the road. Class A Drivers The Class A Drivers forum currently has over 39,000 members, 26,000 threads, and 370,000 posts. The forum’s website lets you know how many users are currently active on the forum and what sub-category they are viewing. This way, you are able to go to an active thread with your comments and receive responses quickly. The sub-categories are given short and concise descriptions so you are easily able to tell what each discussion is about.  ExpeditersOnline.com ExpeditersOnline.com  is the leading expedite trucking website. They have a forum on their website that was established all the way back in 1999. The forum has over 22,000 members, 56,000 threads, and 730,000 messages. The forum allows you to see what's new, what members are on the website, and how long ago a message has been added to a specific thread or topic. If you are looking to get into expediting or are already an expediter, this is the perfect place for you to learn and stay up to date with all things expediting. Trucking Forums: What Should I Look For? These are just a few of the many different trucking forums out there. It’s easy to find other forums online with a quick search. When looking through the different forums, make sure they have active users, are easy to navigate, and that discussion topics are relevant to what you’re looking for. If you keep these things in mind, you will be able to find a forum that is best for you.

We'd all be sitting here naked and hungry! National Truck Driver Appreciation Week 2024 is from September 15th-21st. Truck drivers will be celebrated for the commitments and sacrifices they continuously make to keep our country moving forward. Much of the general public doesn't realize how important truck drivers are in their lives. When we don’t see the processes that our daily necessities and luxuries go through, we can take them for granted. When we go to the grocery store we might see someone stocking a shelf, but we don’t see the truck driver who delivered those supplies. If truck drivers stopped working, the impact on our daily lives and our economy would be truly disastrous. Here are some examples of what the world would look like if it weren't for truck drivers: Imagine the first 24 hours without truck drivers Hospitals would begin running low of basic medical supplies Long lines would begin to form for fuel Mail and package delivery services would stop Within two to three days Grocery stores and restaurants would run out of fresh food Banks and ATMs would run out of cash Service stations would run out of fuel Cities and suburbs would begin to gather piles of uncollected garbage Within one week Lack of fuel would cause motor transportation to cease Lack of fuel would also mean that police, fire, and other rescue vehicles would be unable to provide assistance Hospitals would begin running low on oxygen supplies And finally, within one month Clean water supply would be gone And almost all manufacturers would have to shut down due to lack of components, leaving thousands out of work... This information should help us realize just how important truck drivers truly are. It's important to keep in mind that a truck doesn't deliver anything. It's the truck driver that delivers the much needed inventories and supplies that keeps the world turning. Truck drivers should not just be appreciated this week, but every week, for all of the hard work they do.

Motor Carrier Authority refers to the legal permission granted by the Federal Motor Carrier Safety Administration (FMCSA) to operate as a motor carrier or trucking company in the United States. This authority is necessary for any company or individual planning to transport goods or passengers using commercial motor vehicles across state lines. The process of obtaining motor carrier authority involves completing an application, paying the appropriate fees, and complying with various federal and state regulations. This includes but is not limited to, obtaining a USDOT number, securing insurance, appointing a process agent, and implementing an alcohol testing program. Additionally, motor carriers must undergo compliance reviews and may be subject to safety audits to ensure they are operating safely and in compliance with federal regulations. Having motor carrier authority and receiving an MC number is crucial for companies in the trucking industry as it allows them to legally operate and provide their services to customers. Have questions about getting your own authority? Click here! Who needs MC trucking authority? The entities that require MC trucking authority include motor carriers and freight brokers who transport freight across state lines. Carriers, in this context, refer to companies or individuals that transport goods or passengers for hire using commercial motor vehicles. These carriers must obtain MC trucking authority before operating as common carriers, which means they transport goods for the general public. Freight brokers, often referred to as intermediaries, connect shippers with carriers. They do not personally transport goods, but they help arrange transportation services. Freight brokers must obtain MC trucking authority to engage in this activity. Who does not need MC authority? There are certain circumstances in which carriers or freight brokers are exempt from obtaining MC authority. One such exemption applies to intrastate carriers who exclusively operate within the borders of their own state and do not engage in any interstate transportation. These carriers do not require MC authority as they are solely focused on serving the transportation needs within their state. Another exemption applies to private fleets. These fleets are owned and operated by businesses exclusively for their own goods transportation needs. Since private fleets do not transport goods for the general public, they are not required to obtain MC authority. There are also specific situations where MC authority is not required for carriers. For instance, carriers transporting non-regulated cargo, such as certain exempt commodities, may not need MC authority. Additionally, carriers operating exclusively within a designated commercial zone may be exempt from obtaining MC authority. Is the MC Number and USDOT Number the Same? The MC Number and USDOT Number are not the same, although they are both important for carriers operating in the trucking industry. The USDOT Number is a unique identifier assigned by the Federal Motor Carrier Safety Administration (FMCSA). It is required for all commercial vehicles involved in interstate or intrastate commerce, regardless of the type or size of the vehicle. This number helps track a carrier's safety record and compliance with federal regulations. On the other hand, the MC Number is specific only to carriers involved in interstate operations. Also, brokers require an MC number but do not need a USDOT number. While both the MC Number and USDOT Number serve as identifiers for trucking companies, they aren’t both required for all commercial vehicles. MC Authority Application Process The application process for obtaining operating authority in the motor carrier industry can be a complex and time-consuming task. The entire process can take anywhere from 20 to 60 business days, depending on the specific circumstances. Applying for motor carrier authority requires meeting certain requirements and submitting the necessary documents and fees. To ensure a smooth application process, it is important to follow these steps diligently. Step 1: Create a Business Entity To apply for your MC authority, the FMCSA will consider your cargo type, company type , and more. This is why the first step is to obtain your Employer Identification Number (EIN) from the IRS and establish yourself as an official business entity. Carriers and brokers must also be approved for liability and cargo insurance coverage . This is crucial because, without coverage, you cannot proceed with the FMCSA registration process. Step 2: Apply for Your USDOT and MC Number The Unified Registration System is used to apply for your USDOT and MC Number, replacing several older forms and creating a single online registration system. To obtain your DOT number, proceed to the Unified Registration System portal and follow the instructions. You cannot proceed with your MC authority application until you’ve obtained your DOT number. Once you've obtained your DOT number, you can start your MC authority application. Gather your truck information, including VIN, year, weight, etc., incorporation details, and license plates (if applicable). Keep in mind there is a $300 non-refundable filing fee. Step 3: File BOC-3 Paperwork BOC-3 stands for Blanket of Coverage and is a legal document that designates a process agent in each state where a trucking company operates. This process agent acts as the company's representative for important legal matters and is responsible for accepting legal and court documents on behalf of the company. To file BOC-3 paperwork, you will need to provide the necessary information about your designated process agent, including their name, contact information, and the states where they will be operating on your behalf. It is important to ensure that the process agent is willing and able to fulfill these responsibilities. Step 4: File Your Universal Carrier Registration (UCR) Permit The UCR permit serves as a verification of active insurance coverage. It ensures that your operating authority is up-to-date and valid in the states you operate in. Your MC number and DOT number are required for this step. Luckily you should have already secured liability and cargo insurance by this point in the process. However, this is still an important part of the process. Step 5: Paying the Heavy Vehicle Use Tax (HVUT) HVUT is an annual tax assessed on all heavy vehicles operating on public highways. This tax is essential for maintaining compliance with federal regulations and ensuring the smooth functioning of the trucking industry. To pay HVUT, you will need to file Form 2290 , also known as the Heavy Highway Vehicle Use Tax Return, with the IRS. This form requires you to provide information about your vehicles, such as the VIN (Vehicle Identification Number) and gross weight. The HVUT payment is based on the weight of your vehicle, what cargo you hauled, and how far you hauled it. The funds collected through HVUT are used for various transportation-related purposes, including the maintenance and construction of highways. Remember, paying HVUT is a vital step in maintaining your motor carrier authority and ensuring compliance with federal tax regulations. Also, you cannot register for IRP (International Registration Plan) until you have submitted your form 2290. Step 6: Register for an International Registration Plan (IRP) Carriers must register for an International Registration Plan (IRP), which is an agreement among 48 states and Canada. This allows carriers to register their vehicles in one location and pay apportioned license fees to operate in other jurisdictions. The fees vary based on the amount of time operated in each jurisdiction and can range from $1,500 to $2,000 per vehicle. By registering for IRP and obtaining apportioned plates, your trucking company will have the necessary authorization to operate across multiple jurisdictions. This streamlines the process and ensures compliance with regulations in each state. Step 7: Set Up an International Fuel Tax Agreement (IFTA) Account IFTA is a similar agreement between 48 states and Canada for collecting taxes on fuel use. Quarterly returns must be filed in your home state to remain compliant with IFTA. Other states may require additional permits in addition to an IFTA license. To be certain all regulations are being met, familiarize yourself with the rules of any state you will do business in. Step 8: Enroll in a FMCSA Drug and Alcohol Testing Program Once you have your MC authority, DOT number, and permits, you need to complete one more step. The FMCSA mandates all CDL drivers in your organization to join a drug and alcohol testing program. The FMCSA and USDOT have set rules for testing, substances, and frequency. The FMCSA provides instructions on staying compliant with their drug and alcohol testing requirements. Ready to Set Up Your MC Authority? In conclusion, obtaining MC trucking authority is vital for motor carriers and brokers in the transportation industry. This authority signifies compliance with federal regulations and ensures the safety and integrity of operations. Click here to download our list of industry partners who provide services for truck drivers with their own authority and take advantage of exclusive discounts . It is important to note that maintaining active operating authority and adhering to federal regulations is essential for remaining in business. If you have additional questions about getting your own operating authority or need help with the process, click here !

The days are longer and the temperatures are warmer – so it must be spring. For many of us, that means it’s time for some spring cleaning. But why stop with sprucing up your living space? This year, consider extending the “spring cleaning” concept to your finances as well. How can you tidy your finances? Here are some suggestions: “De-clutter” your portfolio As you go through your home during your spring cleaning rounds, you may notice that you've acquired a lot of duplicate objects – do you really need five mops? – or at least some things you can no longer use, like a computer that hasn’t worked for years. You can create some valuable space by getting rid of these items. And the same principle can apply to your investment portfolio, because over the years you may well have acquired duplicate investments that aren’t really helping you move toward your goals. You may also own some investments, which, while initially fitting into your overall strategy, no longer do so. You could be better off by selling your “redundant” investments and using the proceeds to purchase new ones that will provide more value. Get organized During your spring cleaning, one of your key goals may be to get organized. So you might want to rearrange the tools in your garage or establish a new filing system in your home office. Proper organization is also important to investors – and it goes beyond having your brokerage statements in nice neat piles. For example, you may have established IRAs with different financial services companies. By moving them to one provider, you may save some fees and reduce your paperwork, but, more important, you may find that such a move actually helps you better manage your investments. You’ll know exactly where your money is going, and it could be easier to follow a single investment strategy. Also, with all your IRAs in one place, it will be much easier for you to manage the required minimum distributions you must start taking when you turn 70-1/2. (These distributions are not required for Roth IRAs.) Protect your family’s financial future When cleaning up this spring, you may notice areas of concern around protecting your home – perhaps there’s a crack in your window, or your fence is damaged or part of your chimney is crumbling. Your financial independence – and that of your family – also needs protection. Is your life insurance sufficient to pay for your mortgage, college for your kids, and perhaps some retirement funds for your spouse? Do you have disability insurance that can provide you with some income if you become ill or injured and can’t work for a while? Have you considered the high costs of long-term care, such as an extended nursing home stay? A financial professional can help you determine if your insurance coverage is adequate for all these needs and if you're paying too much. Look for recurring expenses Each year it seems like most of us are always signing up for at least one subscription based service. Log in to your bank account and browse through your statement. Do you see any recurring expenses that you no longer have a need for? If you do, then make sure you cancel them because that is money right back in your pocket. Knock out your debt If you have found yourself struggling with debt, then now is the perfect time to start working towards eliminating it. If you need a little help getting started with the process, take a look at The Avalanche Method . With this, you will prioritize your debts by their interest rate. Start by paying off the debt that has the highest rate and then move on to the next highest debt until you are debt-free. Another popular method is The Snowball Method , where you will start with the debt with the lowest balance and move on to the next highest balance until everything is paid off. Start your tax planning for next year Don’t wait until the end of the year to start planning for next year’s taxes. If you are a company driver that receives a W-2 make sure that your W-4 form is up to date. If you get married or have kids then your allowances will have changed. This is also a good time to start making charitable donations, which will help lower your taxable income. Consider putting these spring cleaning suggestions to work. They may help you keep your financial house in good shape for all the seasons yet to arrive. This article was written by Edward Jones for use by Greg Hall, Financial Advisor with Edward Jones. He can be contacted via email at greg.hall@edwardjones.com or via phone at 303-985-0045.

Constructing a personalized profit plan is one of the most important things that an owner-operator can do. This is your roadmap to financial success. A profit plan consists of two main items: revenue, and expenses. When determining revenue for a client, we run through quite a few different pieces of information that help give us a complete picture. We start by determining the number of miles a client thinks they will run on any given month. We then use their rate per mile to give us a good starting point. Other factors like fuel surcharge and miscellaneous pay will allow us to determine total revenue. Once we have determined the kind of revenue your business expects to make, it’s time to talk about the expenses you will encounter. Things like your truck payment, truck insurance , licenses, permits, and FHUT are all fixed expenses. These are things that you pay for whether or not your truck is running. In addition to fixed expenses, there are also variable expenses that can fluctuate from month to month. Things like fuel, maintenance, and fuel taxes are all examples of variable expenses.  Once we have helped you put together your profit plan, you will know exactly how many miles you need to run each month in order to break even. Once you hit your break-even point, from there it’s all profit in your pocket. It’s a good idea to review this profit plan several times throughout the year to see how you’re doing and make sure your numbers haven't changed. Are you making enough money to pay your quarterly tax estimates? Have you saved enough for that vacation you’ve been planning? Are you running the miles you thought you would? All of these are questions you should be asking yourself on a regular basis. If you haven’t created a profit plan for your business yet, call ATBS to get started. Your assigned business consultant will walk you through all the things that help make up your monthly revenue and expenses and guide you to higher profitability.

The freight market has been navigating rough waters lately, creating challenges for many owner-operator truck drivers. The upcoming 2024 election adds another layer of uncertainty, with hopes pinned on a potential market rebound post-election. However, it’s important to recognize that regardless of the election outcome, the freight market won’t transform overnight. Policy changes and economic shifts take time to ripple through the industry, making immediate improvements unlikely. Instead of waiting for the market to rebound, there are proactive steps you can take now to regain control, and positively impact your trucking business: 1. Diversify Your Freight Options Diversifying the types of freight you haul can be a game-changer. Instead of sticking to familiar routes and cargo, explore new opportunities in industries less affected by economic fluctuations. Consider looking into routes in areas of the countries that others aren’t willing to run through, as well. For example, taking on freight that others may shy away from, such as routes into the heavily populated Northeast, can set you apart from the competition. By being willing to haul in areas that are more challenging, or less popular, you can tap into a niche market with potentially higher demand. 2. Enhance Fuel Efficiency Fuel costs are one of the most significant expenses for truck drivers. By implementing fuel-saving practices, you can achieve substantial cost reductions. Regular vehicle maintenance, proper tire inflation, and adopting fuel-efficient driving habits are just a few ways to lower fuel consumption. Investing in fuel-efficient technologies, such as aerodynamic add-ons and low-rolling-resistance tires, can further increase savings. 3. Leverage Technology Embracing technology can give you a competitive edge. Utilize apps and software for route optimization, load matching, and real-time tracking to find the best loads, reduce empty miles, and improve efficiency. Telematics systems offer valuable data on vehicle performance and driver behavior, enabling informed decisions that can boost your business’s bottom line. For more resources, see our lists of the best fuel savings cards and apps  and the best overall apps for owner-operators  to maximize your efficiency and savings. 4. Focus on Customer Relationships Building strong relationships with your customers is key to ensuring a steady flow of business. Providing reliable service, maintaining clear communication, and going the extra mile can make you the preferred choice for shippers. Loyal customers are more likely to provide repeat business and refer you to others, creating a stable foundation for your operations. 5. Optimize Your Financial Management Effective financial management is crucial in navigating tough market conditions. Keep detailed records of income and expenses, create a budget, and monitor cash flow closely. Working with a financial advisor specializing in the trucking industry, like our team at ATBS, can help you make informed decisions. Reducing fixed costs, such as by renegotiating insurance premiums or leasing agreements, can further stabilize your finances. 6. Stay Informed and Adapt The freight market is ever-changing, so staying informed about industry trends is vital. Engage with industry associations, read trade publications, and attend webinars like our ATBS Independent Contractor Benchmarks and Trends Driver Webinar on September 18th , to stay current on the industry. Being adaptable and willing to pivot your business strategy can help you weather market fluctuations. Networking with other truck drivers and industry professionals can also provide valuable insights and support. 7. Invest in Professional Development Continuous learning and professional development keep you competitive. Whether it’s understanding new regulations, learning about truck technology advancements, or honing your business skills, investing in your growth can yield long-term benefits. Earning certifications in safety, compliance, or specialized freight can also enhance your marketability and unlock new opportunities. While the freight market’s future remains uncertain, owner-operators can take concrete steps to strengthen their businesses. By implementing these strategies, you can navigate current challenges and position yourself for long-term success, regardless of the political landscape.

At ATBS, we understand that sometimes it can be difficult to find your routine. We know that as an owner-operator, your days and weeks can look very different. However, here are the Top 10 Things an Owner-Operator Should Do Every Day! 1) A Pre-Trip Inspection of your rig. Not only is it mandatory, but it's a great way to start your day. 2) Make the bed. It makes everything look cleaner, and it's an easy thing to accomplish first thing! 3) Plan your meals and snacks for the day ahead of time. Remember to include healthy snacks like fruits & veggies. 4) Map your route and fuel stops. Since fuel is such a big expense, this is a great opportunity to keep more of your hard-earned money! 5) Smile when greeting your dispatcher, a toll booth operator, or even the TA clerk working the register. 6) Plan to move. Seek out a place to walk at the truck stop, find a workout facility nearby, or do a quick workout in the truck. 7) Buckle up! 8) Reach out to your loved ones. Using a headset of course! 9) Send the day's receipts and track your Per Diem in the ATBS Hub . 10) Drive carefully!

Establishing a Limited Liability Company (LLC) can offer a layer of protection and professionalism often sought in the transportation industry. From the perspective of liability, tax implications, and branding, structuring a business as an LLC has significant advantages for truck drivers. This article will provide a roadmap to establishing an LLC, detailing the pivotal steps involved and other crucial setup tasks to consider, guiding you through the journey of turning your truck driving operation into a formal business entity. Are you a self-employed truck driver who needs help forming your own business entity? Click here! The Benefits of Starting an LLC for Truck Drivers Starting an LLC (Limited Liability Company) can offer significant advantages for truck drivers and trucking businesses within the trucking industry. Below are some benefits of forming an LLC: Limited Liability Protection An LLC safeguards the personal assets of a truck driver, protecting them from the risks associated with business obligations. This means in the event of business debts or legal action, personal properties such as a driver’s home or personal savings would typically not be at risk. Tax Flexibility With an LLC, truck drivers have the ability to choose the most advantageous tax structure for their financial circumstances. They can opt for pass-through taxation, where profits are reported on personal tax returns, or elect to be taxed as a corporation if it benefits their financial goals. Credibility and Professionalism Establishing an LLC conveys a strong message of dedication to responsible and compliant business operations. For trucking companies, this level of professionalism can be pivotal in attracting clients and securing contracts, as it suggests a commitment to legitimacy and stability. In sum, an LLC provides essential shields and options for truck drivers and their businesses. This makes it a compelling choice for those in the trucking industry seeking to establish or grow their operations. Steps to Start an LLC Starting a Limited Liability Company (LLC) within the trucking industry involves several important steps: Choose a Base State Identify the state in which your LLC will primarily conduct its trucking business. This decision should consider tax structure implications and operational convenience. Name Your LLC Carefully select a unique and compliant name that meets state requirements and reflects your trucking business. Designate a Registered Agent Appoint a responsible party or service within your base state to receive legal documents on behalf of your LLC. File Articles of Organization Submit the necessary formation documents to the state office, outlining key details about your trucking company. Obtain an EIN Apply for an Employer Identification Number from the IRS, which is necessary for tax purposes and to hire employees. LLC Operating Agreement Draft an agreement that details the ownership structure, member roles, and operation procedures of your trucking business. By following these steps methodically, entrepreneurs in the trucking industry can establish a solid foundation for their company under the protective structure and flexible tax benefits of an LLC. Other Important Setup Tasks Starting a trucking business requires more than just registering your company as a limited liability company (LLC). After determining the appropriate tax structure and formalizing the entity, there are several other critical setup tasks that must be addressed to ensure operational readiness and legal compliance. Business Bank Account Setting up a dedicated business bank account is vital for managing finances, tracking expenses, and maintaining the financial integrity of your trucking company. This separation from personal finances also supports the limited liability status, helping to protect personal assets. Licenses and Permits Your trucking business must acquire the necessary licenses and permits to operate legally within the trucking industry. This may include a Commercial Driver's License (CDL), motor carrier operating authority (MC number), and various state-specific permits. Insurance Coverage Obtaining adequate insurance coverage is essential for protecting your business from potential risks. Required insurance may include liability insurance, cargo insurance, and coverage for any non-owned trailers. These foundational steps create a stable platform for your LLC trucking company to operate within the broader framework of the trucking industry. Tax Options as an LLC After forming an LLC, the business will have the option to be taxed as a C-Corporation, an S-Corporation, or neither and file as a Disregarded Entity, where the business income and expenses are reported on the owner’s personal tax return on a Schedule C. By electing to be taxed as a C-Corporation the business would be required to pay corporate income taxes and the shareholders would be required to pay individual income taxes on the wages and dividends that are distributed by the business entity. This is known as “double taxation” and makes this election unwise for any small business. A great option for a trucking business may be for the owner(s) to elect for their LLC to be taxed as an S-Corporation. The S-Corporation is considered a pass-through entity. This means the income is not taxed at the corporate level and the profits are distributed to the shareholders who pay tax on the percentage of business income allocated to them at the individual level. The individuals are responsible for paying income taxes but they do not pay self-employment (Social Security and Medicare) taxes on distributions. It’s important to note that S-Corporations are required to run regular payroll and pay themselves a W-2 wage. This should be deemed reasonable compensation, which the IRS defines as the wages for a comparable individual in the same industry, with similar experience, and located in a similar location. And, you must file a corporate tax return in addition to your personal tax return. Depending on the level of consistent income, it may be a tax advantage for an LLC to elect to be taxed as an S-Corporation. However, if that income level is not high enough, an LLC electing to be taxed as an S-Corporation may cost more than the savings received in taxes. A general rule of thumb that ATBS suggests is if the business will produce a net income of $80,000/year or more there may be some tax savings being taxed as an S-Corporation. This chart is a simplified example comparing the taxes for an LLC taxed as a sole proprietorship and an LLC taxed as an S-Corporation. LLC - Taxed as a Sole Proprietor LLC - Taxed as an S-Corporation Income $90,000 $90,000 Wages - $50,000 Taxable Income $90,000 $40,000 SE Tax or FICA $13,770 $7,650 TAX SAVINGS $0 $6,120 Here is a free e-Book that goes into much more detail on the different business structures. The decision of whether or not to incorporate your business and file your taxes as an S-Corp should be based on detailed business and tax analysis by your accountant . If you have any questions or want more information, please call ATBS at 866-920-2827, or visit our website at www.atbs.com.