May 02, 2023

Least Available Truck Parking By Region

What are the best and the worst regions for available truck parking? Our community of nearly 1 million drivers respond to parking availability questions sent to them every time they enter a parking location. Their responses tell the story.

How to Grow a Trucking Business as an Owner-Operator Did you know that more than 70% of all goods in the United States are transported by truck? That's a lot of products that need to get from Point A to Point B, and it makes commercial trucking one of the most important industries in the country. That <a href="https://cdlworker.com/blog/CDL-training" target="_blank">CDL (commercial driver’s license)</a> has a lot of value these days. If you're a driver looking to start your own trucking business or an owner-operator with a truck already on the road, there are a few things you should know as a business owner. In this post, we'll walk you through some tips for growing your trucking business. Let's get started! <h3>Changing Industry Regulations </h3> As the trucking industry continues to evolve, it's important for trucking businesses to anticipate changes in regulations and have a business plan that is friendly to adapt to those changes. One way to do this is to monitor developments at the state and federal level. State legislatures and Congress are constantly debating issues that could impact the trucking industry, such as hours of service, weight limits, and environmental restrictions. By tracking these debates, trucking businesses can be among the first to adapt to new regulations. Another way to anticipate regulatory change is to stay up-to-date on the latest industry news. Industry publications and websites are a great source of information on upcoming changes in the trucking industry. By monitoring these sources, small businesses can stay ahead of the curve and make the necessary changes to stay compliant with evolving regulations. <h3>New Transportation Technology </h3> New transportation technology is constantly emerging, and it can be hard to keep up with the latest trends. However, those who don't stay up-to-date with the latest technology will quickly fall behind their competitors. There are many new transportation technologies that can help trucking businesses grow. One example is GPS tracking. GPS tracking can help businesses to keep track of your trucks, know where they are at all times, and ensure that they are on schedule. In line with this would be Trucking Management Systems (TMS). These systems will prove to be game changers for your business at any level. This information can be invaluable for reducing delays and boosting efficiency. Another example is electronic logging devices. These devices went from optional to mandatory and became a major hurdle for some. By staying on top of the new tech and how they operate will keep you in good shape for industry growth. By investing in and staying up to date with new transportation technology, trucking business owners like you can stay ahead of the curve and continue to grow. <h3>Manage Your Business Finances Well </h3> One of the biggest keys to running a successful trucking company is to manage your finances well. Many trucking businesses fail within the first year due to poor financial management. In order to grow your trucking business, it is essential that you keep a close eye on your finances and make wise decisions about where to allocate your resources. A good way to manage this is to get a good reputable line of credit for your startup to manage your operating costs and raise your business credit score. This will make you look better to lenders. One of the most important aspects of financial management is creating and sticking to a budget. Without a budget, it is easy to overspend on unnecessary expenses and quickly become buried in debt or short on fuel costs. Make sure to map out all of your income and expenses so that you can track your progress and make adjustments as needed. Another crucial element of financial management is making sure that your trucking company has a strong and regular cash flow to keep operations running smoothly. An invoice factoring company, also known as freight factoring, can be a major tool in this area to help get you paid on freight bills now instead of waiting out the payment terms. Many, such as <a href="https://www.tafs.com/">TAFS</a>, also offer a fuel card option to save you additional money on fuel prices at the pump. <h3>Provide Excellent Service </h3> While there are many important factors to consider as an independent contractor, one of the most important is providing excellent service. After all, without happy customers, it would be difficult to stay in business for very long. There are a few key things that you can do to make sure that your customers are always satisfied. First, ensure that your truck drivers are polite and professional at all times. Secondly, make sure that your trucks are always clean and well-maintained. Finally, go the extra mile to accommodate special requests whenever possible. By providing exceptional service, you will encourage customers to keep coming back, which is essential for long-term success. <h3>Develop and Foster Strong Customer Relationships </h3> Trust can be difficult and time-consuming to develop. It is vital in this industry to recognize this and strive to not only develop meaningful business relationships with your customers but to foster those relationships so that they are beneficial to all <h3>TWIC Cards </h3> You may be limiting yourself from loads if you do not obtain a Transportation Worker Identification Credential (TWIC). This card is issued by the Transportation Security Administration (TSA) and allows truckers to enter secure areas, such as ports and maritime facilities. In order to obtain a TWIC card, truckers must first pass a background check and fingerprinting. Once these requirements have been met, truckers can submit an application online or in person at a TWIC enrollment center. The process usually takes about two weeks, and the TWIC card is valid for five years. Having a TWIC card is a big boost for any trucker who wants to grow their business because it expands your freight possibilities, so be sure to apply for one as soon as possible.

Apr 26, 2023

Trucker Tax Tips, Part 3: Set Yourself Up for Success with Good Tax Habits Is this the year you get your taxes better organized than ever before? You’ve come to the right place. In part 3 of our 4-Part Tax Primer for Truckers created by Trucker Path and the tax experts at <a href="https://www.atbs.com/trucker-path">ATBS</a>, we’ll address winning tax habits for owner operators. Good driving habits keep you safe and in good stead with the law out on the road. Similarly, good tax habits can keep you stress-free in tax season and in good standing with the IRS. Document Every Deduction This is a key to not running afoul of the IRS. Long-haul truckers especially need good systems for capturing every expense as well as filing and protecting receipts and important documents throughout the year. Trying to remember important details during tax time will only create stress. Stay On Top of Per Diem Expenses To claim the per diem deduction, you have to keep track of days on the road. Keeping a per diem calendar that records full days and partial days can be a saving grace come tax season when memory can fail. ATBS clients can easily track their days on the road using the <a href="https://www.atbs.com/post/how-to-use-the-atbs-mobile-app">ATBS Mobile App</a>. You also need DOT ELD logs with times, dates, and locations for your records. Reconcile Your Expenses Daily Make a habit of ending the day updating mileage logs and recording notes for each job and the expenses incurred for each one. Technology can help. Again, the <a href="https://www.atbs.com/post/how-to-use-the-atbs-mobile-app">ATBS Mobile App</a> is a great example. It also enables drivers to scan or import receipts and documents. Keep Important Documents in Order 1. Did you buy a new truck? You need the documents so you can deduct depreciation. 2. Did you work with new carriers? Get your 1099s in order. 3. Do you have a new lease? Keep your legal documents in a safe place. 4. Do you have additional sources of income? Add them to your quarterly income estimate so you can adjust your quarterly tax payment accordingly. 5. Did you contribute to a traditional IRA or convert your IRA to a Roth IRA? The IRS needs to know. 6. Did a creditor forgive any of your debt? The cancelled debt needs to be reported to the IRS. 7. Do you have a new baby? Be sure and update your tax form—the same with any changes to your marital status. Don’t Wait Until the Last Minute Impending deadlines for filing taxes always add to the stress of tax season. It helps considerably if you’ve been keeping your logs up to date and saving your receipts throughout the year. Also, don’t wait until the last minute to start your taxes. You’re much more likely to make a math error or forget a form when you do your taxes in a panic. Getting a jump on your taxes is the best strategy. And if you choose to enlist the help of an accountant, it goes the same. Get your records and receipts over to them as soon as you can. You want to give them as much time as possible to find every conceivable deduction that can reduce your taxes. Always File Your Return. Even if you can’t afford to pay your tax bill, it’s important to file your taxes. If you don’t file a tax return, the IRS will assess a penalty immediately. The amount you owe won’t go away the longer you wait to pay; in fact, it will grow because you’ll have to pay compound interest. It can also result in your bank accounts being garnished. Consider Filing for an Extension. If you are not able to file a tax return by the deadline, it is possible to file for an extension. This extends the amount of time you have to file your return without penalty. Remember an extension to file isn’t an extension to pay. Getting an extension doesn’t relieve you from having to pay your tax bill and the interest that accumulates on what you owe. Don’t Ignore IRS Notices IRS notices can blindside truckers. They typically come by regular mail, so it can be easy to miss them if you are on the road or don’t have a steady mailing address. Attend to them as soon as you receive them. Delaying can have severe ramifications. Know When to Seek Help If you’re dealing with complicated tax issues or feeling overwhelmed by IRS requirements and deadlines, an experienced tax professional can advocate for you with the IRS and provide invaluable assistance navigating the IRS system. Right now Trucker Path is offering a special discount for Trucker Path users on tax and accounting services from <a href="https://www.atbs.com/trucker-path">ATBS</a>. Learn more here. Next Up in Our 4-Part Tax Primer for Truck Drivers Series: Avoid Trouble In general, it’s best not to mess with the IRS. Learn the things that can make you a target for an IRS audit in our next post.

Feb 23, 2023

May 24, 2023