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Taxes
Business Credit for Trucking Companies: What Lenders Actually Look For
If you’re trying to grow a trucking business, sooner or later you’re probably going to need financing. Maybe you’re buying your first truck. Maybe you’re adding another unit to the fleet, replacing aging equipment, purchasing a trailer, or looking at property for your operation. And that’s usually when the credit questions start. Do you need…
Can Truck Drivers Write Off a Dog? The “Guard Dog” Tax Deduction Explained
If you spend much time around owner-operators—or trucking groups on social media—you’ve probably heard some version of this tax tip: “My dog rides with me and protects my truck, so I write off his food and vet bills as a business expense.” It’s an appealing idea. Plenty of truck drivers bring their dogs on the…
Understanding Trucking Taxes: Fuel Tax (IFTA) vs. Heavy Highway Use Tax (Form 2290)
As a truck owner or operator, keeping up with federal and state tax compliance can feel like a full-time job. Two of the most common, yet frequently confused, vessel taxes in the trucking industry are the Fuel Tax (IFTA) and the Heavy Highway Use Tax (Form 2290). While both funds help maintain our nation’s transportation…
Getting Started
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…
Getting Your CDL
Recently, we talked about the importance of having a plan before jumping into the owner-operator’s seat. Today, we’re going to dive in a little bit deeper about getting your CDL and a few things you need to take into consideration when doing your research. Not all operations are going to require you to have that CDL,…
What are the most common tax mistakes truckers make?
All too often, truckers who make the transition from being an employee to an owner-operator are not as informed as they need to be about the tax laws that govern the industry. This lack of knowledge can, unfortunately, create major headaches for truckers. Find out from the professionals at the Trucker CFO — a provider…
Operations and Strategy
Business Credit for Trucking Companies: What Lenders Actually Look For
If you’re trying to grow a trucking business, sooner or later you’re probably going to need financing. Maybe you’re buying your first truck. Maybe you’re adding another unit to the fleet, replacing aging equipment, purchasing a trailer, or looking at property for your operation. And that’s usually when the credit questions start. Do you need…
Social Security and Payroll Strategies for Truckers: Finding the Right Balance
Understanding Social Security for Trucking Business Owners As a trucking business owner, Social Security strategy might seem like a distant concern, but the financial choices you make today can significantly impact your retirement benefits. One of the most common tax-saving strategies for S-Corp owners is minimizing payroll to reduce payroll taxes, but this decision carries…
How Tariffs Affect the Trucking Industry: Challenges, Benefits & Long-Term Outlook
Tariffs often spark controversy across industries, and the trucking sector is no exception. While many focus on the immediate disruptions and rising costs, tariffs—especially those implemented during the Trump administration—have also brought strategic advantages, particularly for American small-business trucking companies. In this article, we explore the impact of tariffs on the trucking industry, offering both…
Bookkeeping
Business Credit for Trucking Companies: What Lenders Actually Look For
If you’re trying to grow a trucking business, sooner or later you’re probably going to need financing. Maybe you’re buying your first truck. Maybe you’re adding another unit to the fleet, replacing aging equipment, purchasing a trailer, or looking at property for your operation. And that’s usually when the credit questions start. Do you need…
The Ultimate Guide to Trucking Per Diem Updates
For professional drivers and owner-operators, the per diem deduction is one of the most powerful financial tools available to protect hard-earned revenue. It is specifically designed to offset the high cost of eating and living on the road. However, tax laws governing the transportation industry change frequently, and misinterpreting the rules can turn a great…
Client Spotlight: Meet Carol And Joe Shelton
During his visit to the Expedite Expo, Trucker CFO Colton Lawrence got a chance to catch up with Joe and Carol Shelton, fleet owners who found Colton and his Trucker CFO Team to be a valuable asset to their R2R Trucking Company. During this edition of the podcast, you will hear the Sheltons share their experience and the relationship they have built with the Trucker CFO team over the years…