Trucker CFO Blog
Going In-Depth On Topics & Trends That Matter To Small Trucking Business Owners
Q1 Estimated Tax Deadline for 2023
Avoid a Costly Surprise Don’t let the Q1 estimated tax deadline for 2023 surprise you. The deadline for making your Q1 estimated tax payment is April 18, 2023. One of the reasons that payment of Q1 estimated taxes can become overlooked or forgotten is that April 18 is also the filing deadline for your personal
Trucking Tax Deductions
Is It Tax Deductible or Not?As we move into tax season, one of the major topics the Trucker CFO team gets asked about is trucking tax deductions and whether different things are deductible or not. In our experience, we have found that the best way to start the conversation about being deductible or not begins
The Impact of the Mid-Term Elections on the Trucking Industry
All politics is local…This often-heard phrase was first shared 90 years ago. It is originally credited to two political writers of that era, Associated Press Washington Bureau Chief Byron Price and Finley Peter Dunne, a Chicago-based journalist and author. While our country and the world have gone through enormous changes since 1932, a strong case
Health Insurance Annual Open Enrollment: an Opportunity that can Help You Manage a Rising Cost
By Colton Lawrence The Trucker CFO Health insurance is a major expense, and the cost of healthcare is one of those price variables that can impact your expense budget both in your business and at home. Having health insurance coverage is a key component in the effort to mitigate these costs – especially when it
September 30 Deadline Is Very Significant For Anyone Who Owes Tax Penalties Or Has Not Filed Taxes For 2019 or 2020
The Trucker CFO Team wanted to share a final heads up on an important deadline that the IRS has set for this Friday, September 30, 2022…
What is the Best Business Entity for a Trucker?
As a trucker choosing a business entity, you have a lot to consider. You may not be familiar with all the choices, but in this blog, we will cover some of the most common options. The four most common types of business entities for owner-operators are…
Properly Handling Paperwork: A Key to Minimizing Heartburn & Enjoying Success in Your Trucking Business
For owner-operators in the trucking industry, your daily responsibilities go beyond being behind the wheel and keeping the American economy moving. When we think about it, the responsibilities involved in a career as an owner-operator merely begin with driving. One of the first lessons that owner-operators quickly learn is that you are operating a business,
Understanding Tax Resolution: Noting The Importance & Value of Having Experienced Professionals On Your Side
As we begin the countdown to the end of the year and we start to look ahead to what tax professionals call “tax season,” we wanted to take some time to discuss Tax Resolution. Throughout the year, we receive calls at the Trucker CFO from owner-operators and independent contractors asking us about issues with outstanding tax debts.
IRS Announces Increase to the Per Diem Rate
If you are an owner-operator or independent contractor, the Internal Revenue Service delivered some good news in September. The federal government is increasing the per diem allowance from the current $66 per day to $69 per day. The increase in the allowance in per diem for days spent traveling away from home is effective beginning
Got a Tax Audit Notification?
In the game of “Would You Rather?” few people would rather be audited by the IRS than suffer a different unpleasant fate. And who can blame them? The IRS is scary. But when you have the Trucker CFO on your side, you won’t have to worry…