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Wow, trucking expenses can really add up. As an owner-operator or fleet manager, there seems to always be someone to pay, another fee, bills, and more! This is really tough in the beginning when you’re busting your butt trucking just to break even.
However, if you develop a good business plan and create a trucking budget you’ll quickly discover ways to cut costs and increase your revenue per mile. Check out a few ways to save and improve your trucking bottom line.
Four Trucking Expense Hacks To Improve Profit Per Mile 1. Improve Employee Management
As a fleet manager, you’re a leader. How you act will influence your employees. You’ll profit if they do a better trucking job. Be sure to use positive reinforcement and to make time to listen to your employees. Learn their names and a little about them, so they won’t feel replaceable. The cost of finding new employees is much higher than retaining them.
Also, you can grow your employees to move up in your operation. For example, provide them with educational materials and give them a shot at working in other areas. For example, if a trucker gets tired of driving see if they want to be a trainer or dispatcher, don’t limit their potential.
Be sure to promote safety practices and lead a lot of safety exercises. If your drivers are safer the number of accidents your trucks are involved in will become reduced. With safer drivers, you’ll have better insurance rates and can avoid the costs of repairing or purchasing new trucks.
2. See if Some Projects can be Outsourced
Every time you need to build a website, increase your SEO, recruit drivers, handle human resources, and more, you don’t have to bring in a new professional. You can simply pay a freelancer, independent contractor, or company to handle the project.
By outsourcing these tasks you won’t have to pay someone a salary or offer them benefits. You will simply pay them for the project or service performed.
3. Save on Miles
Fuel is the number one trucking expense, so you’ll want to save as much as possible. Use a routing program like ProMiles to find direct routes, specifically for trucks. This way you can avoid downtown areas and driving far out of the way.
Other Ways to save file include slowing down. Going 65 mph instead of 75 will save 27% of fuel. Also, reduce idling time and drive less aggressively. Try to come to smooth stops, and slowly accelerate instead of mashing the pedal and slamming the breaks.
4. Get the Right Software Don’t pay tons out of pocket for complicated trucking software that doesn’t have the tools you use. Use a cost-effective business management program like TruckLogics. TruckLogics won’t break the bank and makes it easy to track, analyze, and improve your business online.
While on the road you can view reports like the Profit and Loss report to review how your business is doing, use expense tracking to see where your money is going, create professional invoices to get your money, and much MUCH more!
Sign up for your free TruckLogics trial now to learn how you can save time and money with the market leading online trucking business management program! Please don’t hesitate to contact our amazing, live support team if you need any assistance.
So, you would like to improve your fleet operation? Well, the first step to improvement involves seeing where your trucking business stands. Figuring out your business records to learn about your finances may sound like a headache, and you may feel tempted to call an accountant.
However, you can easily track and analyze every aspect of your fleet operation online with the help of TruckLogics. TruckLogics is the market leading online trucking business management program with every tool you need to run and improve your fleet, even if you’re on the road. How To Efficiently Analyze and Improve your Fleet Operation Business Reports
With TruckLogics you’ll always know how your fleet operation is doing with the ability to create and view detailed business reports at the drop of a hat. For example, the Profit and Loss report will show your trucking businesses’ finances for at any time.
The report displays cost per mile, revenue per mile, and profit per mile, so you’ll know if your breaking even, making a profit, or going under on a monthly, quarterly, yearly, or custom time range.
You can also use TruckLogics to easily manage your expenses and see where your money is going. Any time you or your drivers make a fuel purchase a photo of the reciept can be uploaded to your account for your records. The fuel expenses are so detailed that you can enter the quantity, type, and cost for each transaction.
Are you tired of entering your repeat expenses over and over again for your records? Then let TruckLogics handle it for you. You can set up any payment as a recurring expense and TruckLogics will automatically calculate it into your reports based on its frequency.
Speaking of expenses, don’t forget about paying your drivers! TruckLogics simplifies driver settlements by making them easy to instantly handle online. Your drivers pay will automatically be calculated based on your settings.
You can elect to pay your drivers per mile, loaded mile, percentage of revenue, or manually, then the hauling charge will automatically be calculated. Plus, you can add fuel surcharges, accessorial fees, reimbursements or deductions, and even advance the pay for your driver.
TruckLogics also makes it easy to get your money by giving you the ability to create custom invoices online. The invoices are completely professional and customizable to suit your individual needs.
They’re so quick and easy to create that Trucklogics even auto-fill some of the fields for you and they can be downloaded, printed, or emailed to go wherever they need to!
You can easily track your invoices based on their due date to track if they’ve been paid. Plus, you will receive alerts to remind you when invoices are coming up, due, or late, so you’ll never forget to collect payment. Try TruckLogics Now Why wait? Take control of analyzing your fleet operation to figure out where improvements could be made today. Simply sign up for your free TruckLogics 15-day trial to start using their innovative features for managing your entire trucking business online.
If you have any questions please feel free to contact the outstanding, US-based TruckLogics support team and visit TruckLogics.com for more trucking blogs.
We have a special gift for you today trucking nation, because AMX (Alabama Motor Express) shared their exclusive interview with Chri Burruss, the president of Blockchain In Transport Alliance (BiTA). Buckle up and prepare to learn all about this new technology!
Does blockchain have what it takes to revolutionize the supply chain?
Cryptocurrencies were the talk of 2017. The software that supports it will be the talk of 2018. Blockchain technology is set to revolutionize several industries, including the supply chain. This hot topic and its revolutionary ability have been circulating on many different industry blogs. The topic has also been confusing a lot of people who don’t understand the need for cryptocurrencies or the blockchain technology that allows them to thrive.
Most blockchain experts will tell you, you don’t have to know how it works to understand the benefits.
When it comes to blockchain technology I’m no expert, so I’ll let the experts do the talking. Along with research, I interviewed President of Blockchain in Transport Alliance (BiTA) Chris Burruss. (Interview questions in green)
I'll attempt to break down the basic knowledge needed to get a grip on this complicated new software. Along the way, we’ll find out just how ‘revolutionary’ blockchain tech will be within the supply chain.
What's the difference between cryptocurrencies and blockchains?
Bitcoin is a type of unregulated (currently) digital currency that was first created by Satoshi Nakamoto in 2008. According to Matt Lucas, who works on IBM’s Global Blockchain Engagement team, “It was launched with the intention to bypass government currency controls and simplify online transactions by getting rid of third-party payment processing intermediaries.”
This pretty much just means, knowing this currency would be international, they didn’t want to involve banks and governments and taxes (this might explain why people think Bitcoin is the currency of criminals). Soon they realized there needed to be a secure way to transact business with this new cryptocurrency hence the blockchain was born.
What is blockchain anyway? Blockchain was also invented by Satoshi Nakamoto in 2008. In the most basic terms: a chain of ‘blocks’ make up a list of transactions between different computers or ‘nodes’. No one person controls the blocks. It’s decentralized, working on a user-to-user basis opposed to the point-to-point system currently in use.
Blockchain is a way to keep track of transactions that is supposedly incorruptible and unhackable. It’s like a Google doc for the parties involved, updating instantly, for all to see, with no one person in control of edits. Like Wikipedia for business transactions, except even Wikipedia has some centralized control.
Blockchain technology was invented for the cryptocurrency Bitcoin, but that is just one of its many ‘protocols’. There's a good bit of speculation that Bitcoin and the other digital currencies are just ‘bubbles’, like Tulip mania in 1637, and they are going to pop eventually. While that may be true for some, there is a wide variety of applicable value behind some of the uniquely crafted protocols.
Why are there so many? Each one was created because the previous one didn’t support an aspect that was later needed. Each one was created to fill a specific niche within different industries.
Ether was created because Bitcoin (originally) didn’t support smart contracts or cryptocontracts. Smart contracts help eliminate the cost associated with transactional fees and the third parties needed to verify and enforce them. They are also secure thanks to blockchain's security and decentralization.
Ripple was created for international monetary exchanges because the current system is severely lacking. Let’s say Sally is an exchange student in Europe. Her parents decide to send her money because Europe is expensive. With the Internet of Things (IoT) and the instant communication era we’re in you would think that that transaction would be simple and quick. But, it’s not. It’s a complicated process involving currency exchange rates and international bank systems that take time and money to complete.
Kodak just introduced its own currency to help photographers maintain their digital rights to photos. This gives photographers the rights to the value attributed to their photos instead of a third party stock photo site. There are mentions of this technology being applied to the music industry giving artists the ability to get paid for their talent instead of popularity.
What are some practical applications specific to the supply chain?Let’s forget all about cryptocurrencies for a minute. I know that’s a difficult request but this post isn’t about weird-sounding money. It’s about the seemingly boring tech created to keep up with these transactions. It's this tech that is set to disrupt the current models in several wide-reaching industries.
The increased security alone should be enough to pique the interest even the most skeptical. Even companies within the supply chain are in danger of hacking. Maersk had to deal with a cyber-attack recently that disrupted the operations of several port terminals in the US, India, Spain, and the Netherlands. This disruption was felt globally within the supply chain, considering 90% of world trade comes by sea.
Besides the much needed security upgrade, blockchain would increase transparency throughout the entire supply chain. But, some critics are worried this would create too much transparency. They're worried lane rates or contract terms could be seen by anyone, including their competition.
What is currently being used?There are several different systems currently in use. There is EDI (Electronic Data Interchange), XML-based messages or API-based interactions. These systems replaced basic paper transactions with computer-to-computer transactions. The drawback to using a point-to-point system is the time wasted waiting for the exchange. Additionally, all documents must be in a standardized format or they won’t interact properly. If you think about it, it is definitely time to update the technology we use to transact business in the trucking industry. Blockchain technology would synchronize these systems and create instant, secure transactions.
Do you think we will ever fully abandon EDI? "EDI gets a bad rap due to the numerous problems experienced in the supply chain. The interesting thing about that though is standards were developed around EDI technology but they were never adopted or universally used. It's hard to say if EDI will ever be fully abandoned, but I suspect it is safe for a good while."
What are some challenges in adoption of blockchain technology? With the implementation of any new tech, there are going to be challenges. Right now, there is a lot of speculation, misunderstanding, and a lack of trust in the tech. The availability is still very limited too. This will work itself out in time as more companies within the supply chain warm up to the idea of the change. The lack of regulation also scares a lot of people in heavily-regulated industries, like trucking and logistics.
What do you think will be the hardest part of transitioning to this technology? Convincing companies? Or, actually implementing the tech? "I think it's a little of both. The ROI case is going to have to be strong in order for companies to adopt. Right now, some of blockchain technology still remains theoretical so there is work to do there.
If you think of a technology adoption curve, innovators and early adopters represent 2.5% and 13.5% respectively. The bulk of adoption occurs in the early majority and late majority; 34% each. I would say we are still in the innovation phase. The implementation of blockchain, once you get past the coding, standards, forms, etc., should be fairly straight forward.
From a trucking perspective, we have been slow to adopt new technology for any number of reasons but I believe it is largely due to cost without a solid ROI. Blockchain technology is coming and in the long run, those who refuse to participate will be behind the curve.
There are some challenges with adoption today:
Scalability - currently public blockchains are limited to 3-20 transactions per minute. Contrast that with Visa which is capable of approximately 56,000 tps (transactions per second).
Data Privacy - By definition all data is held by all participants. careful protocols have to be agreed to encrypt commercially sensitive data in any ecosystem.
Collaboration - Many applications of blockchain require agreement of protocols within industries.
Commercialization - Blockchain application codes are generally open source and can be utilized anonymously, so IP is difficult to protect."
Are people in the supply chain industry open to this change or hesitant? "From the response we have seen to BiTA and standardization (we just eclipsed 1000 member applicants this week) there is widespread interest and they are open to the concepts. But keep in mind most are still getting their minds around just what blockchain is and what problems can it solve.
Blockchain won't solve every problem so the important first question is, "what problem am I trying to solve?" and then "can blockchain solve it?". I would characterize the interest as cautious rather than hesitant.
There is also a great deal of speculation as to what industry casualties there might be. Blockchain allows trade (purchase) without intermediaries (intermediaries meaning banks, brokers, attorneys, etc.). Because blockchain is a trustless system, we don't have to trust or even know who we are trading with.
Think of of it this way: When you buy a home, how many middle-men (or women) are involved in that transaction? You have agents, title companies, banks, government agencies, etc. Each one taking a piece of the pie and recording its own version of the truth. Records can be manipulated or deleted. Because it is a centralized system, it can be hacked. The distributed nature of blockchain prevents the blocks from being altered or deleted once sealed; it is immutable and unhackable.
So will there be casualties? With respect to the supply chain, I think voice brokers, factoring companies, law firms and similar 3rd parties will be forced to rethink their business models and purpose.
Like many technological advancements, business may need to adapt to the new normal."
With increased transparency, is there a risk to companies’ privacy with respect to contract rates, shipping patterns, etc.? "There are essentially three types of blockchains: Public, Permissioned, and Federated or Consortium.
A public blockchain is permission-less meaning anyone can participate. This type realizes the full potential for efficiency and transparency of blockchain because it is completely distributed with no centralized ownership; it is owned by no one and everyone. But as the name implies, that creates problems with information that entities don't want in the public domain like rates, driver qualification files, etc.
Permissioned and federated or consortium blockchains, as opposed to a public one, doesn't allow just anyone to have access. They tend to be faster due to a smaller network which means it is more scalable. However, these blockchains aren't fully distributed meaning it is controlled at a certain level. They also lack the transparency of the public chains."
How will it happen?What will ultimately convince the late adopters? "The marketplace, customers and competition. Back to the adoption curve, the innovators and early adopters will be ahead of their competitors for a period of time and will benefit from that (just like any other tech). There is a risk/reward in being in that initial 16%. At some point, the late adopters will be left with no choice but to adopt if they wish to continue to compete.
Trucking companies in that space will likely be pressured by their customers as well."
How do you start the transition? Augmentation to current EDI tech? "I think it will start with individual use cases. Things like smart contracts, proof of delivery and provenance, payments and settlement solutions, etc. I believe it will be inclusive of EDI technology. I also believe there will be an initial dive into private or consortium (federated) block chains."
How soon do you think blockchain tech will penetrate the majority of supply chain operations? 5 years? 10 years? "That's a crystal ball question and I don't trust my crystal ball. There is a lot of innovation occurring at a rapid pace and I believe that will speed up. One of the keys to success and adoption is going to be interoperability across the spectrum. The promise of blockchain is greater efficiency and reduced cost. It is likely there will be numerous blockchains in the supply chain. To the end user, having to use/tap into multiple blockchains doesn't scream greater efficiency. It is going to be important that the various blockchains are able to "talk to each other". This point is a primary focus on BiTA's standards development.
I suspect we will begin to see the needle of penetration begin to move within the next two years."
So, is it the ‘Year of the Blockchain’? You’re darn tootin'.
Where does this lead us? Are banks in danger of extinction?? Will this eliminate the need for debit and credit cards? Is the future NOW?? Nah, probably not. But, it won't take long. In less than 10 years, 10% of the global GDP will be stored on the blockchain, World Economic Forum predicts.
Early adopters with the most capital will be the ones who adopt first. They'll have to deal with all the initial glitches. The rest of us will wait until they work out all the kinks.
The effect of blockchain on the supply chain may be huge but it'll take a while for companies to fully implement the technology. The supply chain industry will have to start by augmenting current technology in order to even begin to tap into the strength of the blockchain.
There's no question that blockchain technology will profoundly change the supply chain industry.
The only question remains is: when?
"I believe that blockchain technology will have a positive impact on the trucking industry. At AMX, we look forward to promoting and using its ability to provide more transparency between shippers and carriers. Blockchain should further strengthen relationships within our long-term customer base creating more trust through increased transparency. Being a member of BiTA, we hope to be actively involved in creating best practices for this technology -- with our customers best interests in mind. We are excited to implement the technology as it becomes available."
For more information on how Alabama Motor Express is staying up to date with the latest trucking tech, check out our website at amxtrucking.com
Thanks For Sharing, AMX!
We hope you enjoyed learning about the blocktrain technology that's expected to change the way serval industries operate in 2018, brought to you by AMX trucking! Please share your thoughts on the matter in the comment section below and visit TruckLogics for more trucking blogs.
There are many reasons to become a trucker that involve the freedom of the open road and traveling across the country. Only sometimes the appeal of trucking completely ignores the fact that driving long distances can be boring.
All of the sudden you feel like you’ve seen the same tree whizz by on the side of the road a billion times. There are no fun four-wheelers to watch around you, and the hum of your engine creates a relaxing melody that makes you want to doze off. However, you never want to fall asleep at the wheel so check out how to stay awake! Five Solid Tips Tired Truckers Use To Stay Awake 1. Prepare For Your Trip
Before you get started on the road take the steps towards having an energetic drive by properly preparing for it. Take a small cat nap from 20 to 30 minutes to relax and destress. Catching a few Zs will help you stay awake and alert.
Correctly fuel yourself for the road. Eat a healthy meal with veggies, fruits, and whole grain for long lasting, steady energy. If you eat fast food or sweets your blood sugar will spike and then it will take a severe drop that makes you drowsy later.
2. Take The Right Items
While trucking you will get thirsty and hungry, but you don’t want to stop for snacks or ingest the wrong items. Set the chips and sodas aside for coffee and green tea. You can keep coffee warm for hours in a heated thermos or buy green tea in powder form to mix with cold water.
However, it may be best to go easy on caffeine, as it’s a diuretic and you don’t want to make multiple bathroom stops. Hydrating with water is a good way to stay awake and use the bathroom less.
You should also have plenty of snacks on hand to keep you energized and entertained. The act of snacking is fun on a subconscious level. Chew on some almonds or carrots. Also, apples are actually more energizing than coffee, so be sure to keep a few in your rig.
3. Crank Something Up
Don’t just listen to the soothing hums of your truck. Crank things up to feel awake and alive by turning up the volume. Find a radio station with your favorite music genre and rock out. Maybe you can even safely perform a drum solo on your steering wheel.
But if you aren’t feeling your usual jams then check out a podcast. There are interesting shows about everything, from trucking to murder mysteries. You could also give an audiobook a try, just avoid anything your high school teachers tried to make you read.
4. Be Your Worst Enemy
You know what annoys you so use those tactics on yourself. Pinch your arms, tickle your neck, scratch your ears. Do whatever makes you frustrated, but not so frustrated that you stop paying attention to the road.
Also, roll down the windows to freeze yourself a little. The cold air will shock you bring you back to being fully awake. The fresh air will help you ward off drowsiness and sometimes the impending blast of air that’s about to hit your face can be exciting.
5. Take Breaks
If you’re too tired to drive don’t go past your limits. Take breaks when you need them. Driving tired is equivalent to driving drunk, it’s not worth it. Pull over and recharge with another cat nap.
Also, taking good long stretches and taking brisk walks to get your blood pumping will also help you feel alert and refreshed. Stay Awake And Safe out There Trucking is a rewarding profession, but it’s exhausting. Not only does driving make you tired, but the physical work that comes with it can be draining. Make sure you get your rest and stay energized. If you get bored or too drowsy behind the wheel wake yourself up or pullover!
Please add your tips for staying awake and visit TruckLogics for more trucking blogs!
2018 is off to a great start, but how are your resolutions sticking since it’s been a little over a month since you made them? Did you vow to live a healthier trucking lifestyle? Because, if you let it, the trucking industry can quickly fill you with bad eating and exercise habits that cause your health to seriously decline.
You don’t want your waistline to outgrow your pants before you notice! Also, you don’t want to let your lifestyle take decades away from your lifespan. Remember to be health conscious about your choices and check out how to lead a healthier trucking lifestyle.
How To Lead A Healthier Trucking Lifestyle In the trucking industry, drivers face a lot of health risks and are more susceptible to health conditions like obesity, high blood pressure, sleep apnea, heart disease, cancer, and more. Don’t add to the statistic, it’s time to take your health into your own hands by making a few simple healthier trucking choices.
Trucking is a stressful profession so many drivers turn to smoking cigarettes to relax at the end of their shift even though this habit is basically chemical suicide. Smoking leads to lung cancer, throat cancer, stokes, heart attacks, and more.
Plus, smoking destroys your looks. It causes your teeth to turn yellow and fall out, plus it gives you terrible breath. You will lose your sense of taste and your skin will lose it’s complexion and wrinkle at a very increased rate.
Pick Healthier Food Options
While on the road it’s easy to let your diet fall through the cracks. Unhealthy fast food options are everywhere, waiting to tempt you with their delicious greasy, fried options. This is why a lot of drivers quickly outgrow their clothes.
You need to be aware of the amount of and type of calories you consume on a daily basis. Use this knowledge to switch to healthier options. We aren’t saying to cut stuff out completely, just do things like replace fries with a side of fruit. Load up on healthier options such as fruits, veggies, and nuts whenever you can.
You can actually pick filling salads at fast food places and order off the heart smart menus at truck stops. Choosing grilled salmon over a burger is always an excellent choice. Plus, there are a number of trucking videos online that will teach you how to cook delicious healthy recipes in your rig.
One way to eliminate sugar and calories is to switch to water. You don’t need all of the crap that’s in soda, which actually dehydrates you. In order to wake up and be alert go for options like black coffee or sugar-free tea. Green tea works wonders as well.
Sitting is a silent killer but it’s not like truckers can drive while standing up. It cuts off blood flow, leads to cardiovascular issues, causes pain in the back, knees, neck, and more! That’s why it’s important to move a little every chance you get.
Whenever you stop for a break get out and stretch then walk around. You can lap your truck or circle the truck stop. Plus, you can take resistance bands and free weights in your truck to squeeze in workouts here and there. By using a fitness tracker you can actually set daily walking goals that are easy to achieve.
As a result of moving more, you will reduce stress and be able to clear your mind. Working out also releases endorphins to make you feel good and fight depression, leading to a healtheir trucking lifestyle.
Stay Healthy Out There Trucking is an extremely rewarding profession with the freedom of the open road. However, it comes with great responsibility. Don’t let the temptations of eating totally unhealthy meals and not taking care of yourself ruin your health. By making small adjustments to your diet and seizing opportunities to move more, your heart and waistline will thank you.
Please add your trucking health tips in the comment section below and visit TruckLogics for more blogs.
The flu is hitting truckers hard this year. Germs seem to be lurking everywhere, just waiting to infect their next unsuspecting host. To make matters worse, the germs won’t go easy on you because you’re a trucker. They will take you down like anyone else without remorse.
If you get infected then you could find yourself parked, for days. The only thing worse than being sick is being sick in your truck. You’ll find yourself lying in your cab with the flu for days, unable to deliver your load until your body regains enough strength. We don’t want this to happen to you, so check out how you can avoid getting trucking sick.
How To Avoid Getting Trucking Sick Consider The Flu Shot
It’s not too late to get your flu shot. The flu is still running rampant around the nation. The flu season could even last until April, so it’s better to be prepared than sorry. Just know that the flu shot doesn’t totally prevent you from getting the flu, but it does greatly enhance chances to defeat it.
Clean Your Hands
It’s time to up your hand washing game this winter and disinfect all they germs they can pick up. Most flu germs are transferred by touch and there are a lot of people touch things in and around truck stops 24/7.
The person who touched the fuel pump before you could have been sick. A sick person could have touched a snack or drink and put it back before you picked it up. A stocker handling inventory or cashier handling money could have been sick, and more.
Wash your hands every chance you get and if your sink options are limited carry hand sanitizer in your rig.
Also, don’t touch your face. First of all, the hand sanitizer will burn and if you scratch your eyes or bite your nails you could be spreading germs to your face, making it easier for them to get in your system.
Up Your Nutrition Game
Your body needs vitamins and nutrients to be strong. Vitamin C plays a major role in keeping your immune system strong, so try adding a daily vitamin to your routine. You can also keep Emergen-C on hand to boost your system or eat citrus fruit.
Zinc is another good supplement to take. Plus, you can always boost your nutrition by cleaning up your diet. It’s not too late to keep your resolution to eat better on track right? Try to add as many fruits and veggies to your diet as you can.
Be Hydrated It’s time to set the soda aside for extra water because hydrating is a great way to fend off colds and viruses. The proper amount of h2o strengthens the immune system and flushes out toxins.
You don’t have to stick to only water, just reduce caffeinated beverages that can cause your kidneys to lose water. Juices and sports drinks are just fine for hydration, just be aware of their high sugar content.
Clean Your Rig
You will want to banish any sneaky germs that have infiltrated your rig. That means it’s time to use disinfectant wet wipes on your dashboard, steering wheel, door handles, fridge handle, and more.
Also, when was the last time you washed your bed sheets? If it’s been a while then it’s time to clean them. Who knows how many germs are camping out on your pillowcase.
Stay Healthy And Safe out There There are about three months left in the flu season, but you can make it through. Consider getting your flu shot and up your sanitation and hydration game. Fight back against the flu before the germs take over!
Well, what do you know? It’s that time again. Time to file your IFTA return, because the 4th quarter deadline, is today January 31. If you don’t file by midnight then you could have some scary IFTA penalties to deal with!
Luckily, you have TruckLogics, your trucking business management solution to help you quickly generate your quarterly IFTA report to help you quickly and easily complete your return. We will even cover the basics to make the process go even smoother. The IFTA Deadline Guide For Truckers IFTA is the International Fuel Tax Agreement that was put into place by the lower 48 United States and 10 Canadian provinces for the purpose of simplifying the reporting of fuel use by qualifying motor vehicles that operate in two or more jurisdictions (states).
The IFTA return really helps, because before it was put into place each state had their own, complex rules and regulations for reporting fuel use, and it was a time-consuming hassle. IFTA really simplifies things as it reports the net tax refund due and to redistribute taxes from collecting states to states that are due.
You will need to apply for an IFTA license and keep it in your cab at all times. Then you will receive two IFTA decals that must be kept on your driver’s door at all times and will need to complete your IFTA return four times a year to comply with the law.
To complete your return you need the following information:
The total miles traveled per jurisdiction.
The total gallons of fuels consumed per jurisdiction
The total tax paid on gallons of fuel purchased per jurisdiction, and
The current tax rate per jurisdiction.
Your vehicle qualifies for IFTA if it:
Has two axles and a registered gross weight of 26,000 pounds or more
Has two axles and a registered gross vehicle weight of 26,000 pounds or more
Has three or more axles regardless of weight, and/or
Is used in combination and the combination exceeds 26,000 pounds in gross vehicle or registered gross vehicle weight.
IFTA Reporting With TruckLogicsIFTA reporting is easy with TruckLogics, because your miles are all calculated and tracked by ProMiles, the innovative truck routing software. All of the information from your trip sheet entries is automatically calculated for your IFTA report.
You can access your IFTA report in your TruckLogics account at any time to review or edit your information. It will list your miles traveled per jurisdiction, gallons of fuel consumed, and more. Everything needed to complete your return is included.
Also, you can use the TruckLogics app to take photos of your fuel receipts at any time and upload them directly to your account. This will allow you to keep detailed records for your trucking business and for IFTA.
At the end of your quarter, all of your IFTA calculations will be accurately calculated in your IFTA report. It can then be downloaded, printed, and emailed to easily go wherever it needs to. Best of all, it can be used to quickly complete your return.
If you need any assistance, the live US-based TruckLogics support team. We’re available over the phone Monday - Friday from 9 AM to 6 PM EST at 704.234.6946
With running a trucking business comes great responsibility. Not only do you need to efficiently manage your operation to yield a profit, but you’re responsible for treating your trucking employees well and for paying your taxes.
January 31 is actually a major employee tax return deadline, because Form 941, Form w-2, and Form 1099-MISC are due. This may seem like a lot, but each of these forms can be easily filed with the help of our sister product, TaxBandits. We recently covered Form W-2 and Form 1099-MISC, so today is all about Form 941. How To E-File Form 941 For Trucking Employees Form 941 Overview
Form 941 or the Employer’s Quarterly Return is used to report tax withholdings from your employee’s paychecks. As an employer who pays wages to workers, even if you only have one, you’re responsible for withholding social security, Medicare, and income taxes from their wages.
This form is used by the IRS to make sure you’re doing that. It’s also used to pay the IRS the amount of Medicare and social security tax you owe as a trucking employer. Businesses are required to file this form on a quarterly basis and the deadlines are:
First Quarter - April 30th Second Quarter - July 31 Third Quarter - October 311 4th quarter January 31
Filing Form 941 With TaxBandits
TaxBandits makes it easy to complete this quarterly form in a matter of minutes. All you have to do is create your free account to get started. Then you will follow their simple step-by-step e-filing guide that helps you correctly fill out your Form 941 and transmit it directly to the IRS.
The e-filing guide includes exactly what information is needed to complete Form 941 along with where it needs to be entered. All you have to do is provide the following information:
Your employer details, including the name, employer identification number, and address
Your total employee count
Medicare, income, and social security tax withheld
Deposit made to the IRS
Your tax liability schedule (monthly/semi-weekly)
Your signing authority information
And your online signature PIN or Form 8453-EMP.
You have to sign Form 941 online in order to complete it and you have two online signature options. You can electronically sign your form with your online signature PIN from the IRS. If you don’t have one, you can apply for one online for free with TaxBandits. Just keep in mind that this process may take up to 45 days complete.
However, don’t worry if you don’t have 45 days. You can use Form 8453-EMP to instantly sign Form 941 online. Simply download Form 8453-EMP from TaxBandits, fill it out, and re-upload it. The entire process only takes about a minute.
The IFTA Deadline Is Almost Here Don't forget about the 4th quarter IFTA deadline coming up on January 31. You have less than a week to complete your return. That means it’s time to start your IFTA report if you haven’t already.
Good thing TruckLogics makes it easy to track all your IFTA totals online. Your trip sheet entries automatically update your quarterly IFTA reports. You can also quickly add and edit your IFTA information at any time.
The quarterly IFTA reports include every IFTA total needed to complete your IFTA return. Plus, they can be downloaded, printed, and emailed. Please don’t hesitate to contact the live, US-based TruckLogics support team.
One way to improve your operation is to improve your communication with your employees, especially when it comes to your drivers. They are busy out on the road and you don’t have the time to constantly call them.
When they can’t reach you to ask questions frustrations can quickly rise. That’s why TruckLogics makes it easy to improve driver relationships and help your fleet run smoothly. Check out our innovative, time-saving features to benefit both you and your drivers. ImproveYour Driver Relationships With Our Innovative Trucking SoftwareTruckLogics is the complete trucking business management solution, that's specifically designed to simplify managing your entire operation, even while you’re out on the road. By taking every aspect of running a fleet into consideration they were able to produce a number of features to simplify managing a trucking operation online. There are features to improve driver relationships, to make IFTA easy, for accounting, and much MUCH more.
Driver Settlements You know what truck drivers like? Getting paid. That’s why TruckLogics simplifies driver settlements. You can actually set the driver settlement settings according to how you will pay your drivers, including per mile, per loaded mile, manually, or percentage of revenue.
Then TruckLogics will automatically calculate fees such as fuel surcharges or accessorial fees into the total for you. You can also add reimbursements for driver expenses and deduction from the total as well. TruckLogics also makes it easy to advance the pay for your drivers.
TruckLogic’s cuts down on driver confusion with the easy dispatching tool that provides clear and concise instructions. You can quickly create a dispatch at any time and instantly assign a driver and equipment.
Your drivers will be able to see these dispatches with details such as the pick-up and drop off locations, any special instructions for them, contact information for the shipper in case they have any questions, and more.
Check calls are also made easy because you can notify your clients of your progress and location at any time. Plus, you can easily send your BOL and proof of delivery.
The TruckLogics App
The TruckLogics app mobilizes your business and provides ways to quickly connect with your truck drivers. For example, you can use the mobile chat feature to discuss locations and even share files.
You and your drivers can use the app to snap photos of important documents and send them wherever they need to go. This makes it incredibly quick and convenient to upload fuel receipts.
The app can also be used to keep detailed trip entries. Trip entries can be added and edited to keep extremely detailed records of your business and IFTA report. To review a trip at any time you can use filter options to select it from the date, place, or from a certain time frame.
Multi-User Login Access
You can actually allow your drivers to access your account to help out with your workload because they can upload their own documents. For example, drivers can upload their own fuel-ups, expenses, and dispatch documents so you won’t have to hunt them down for this information. Try TruckLogics Why wait when you can streamline managing your operations with one, convenient online program now? Sign up for your free 15-day TruckLogics trial to see how our easy-to-use software will help you save time and improve your driver relationships. We will even provide you with a one on one demo to personally show you all that TruckLogics can do.
We’re really in the middle of tax season now. The January 31 deadline for your 4th quarter IFTA report is almost here. Plus, on top of that, as a trucking business, you have quite a few trucking employment tax returns to also file by the January 31 deadline.
You need to file Form W-2, Form 941, and Form 1099-MISC by the deadline. You also need to issue copies of Form W-2 and 1099-MISC to your recipients by the deadline or you will have some hefty penalties to face. However, these deadlines don’t need to make you panic, Our sister product, TaxBandits will help you quickly and easily file with time to spare. E-File Your Trucking Employment Returns By January 31 First of all, TaxBandits is designed to make the e-filing process incredibly quick and simple so you can complete your forms in a matter of minutes. There’s no need to hire an expensive accountant when you can quickly take care of your taxes yourself to save tons of time and money.
All you have to do is create your free account to get started. Then you can select the form you need to follow and use the step-by-step instructions to complete it instantly and transmit it directly to the IRS.
TaxBandits doesn’t want to leave you hanging, which is why they’ve provided helpful text along the way to answer all of your questions. Plus, the text explains what information is needed to complete your forms and where it needs to enter.
Also, TaxBandits offers a wide variety of features to meet the business tax filing needs of everyone, from small business owners, large corporations, and even accountants. To make filing easy for your company you can use the API system to integrate the TaxBandits e-filing tool into your existing software. TaxBandits E-Filing Features One of the best time-saving features TaxBandits has to offer is the bulk upload feature, because you can use it to instantly upload all of your information at once instead of entering your data one-by-one.
Also, you’re responsible for distributing copies of your forms to your employees, but that doesn’t have to be a hassle. Forget about going to the post office! Use our postal mailing feature to have us print and mail hard copies of your forms to each of your recipients for you.
If you’re too busy to file your tax forms, then let another trusted employee handle the hard work for you. Use the multi-access feature to allow your employees to log in to your account and help manage your forms and transmit them directly to the IRS.
However, you don’t have to feel nervous about granting them access, because you can track all of their actions in the activity log. You will be able to see exactly who performed an action and the time that the action was performed. IFTA Is Almost Here! While filing all of these trucking employment tax returns, don’t let IFTA fall by the wayside. You need to file your 4th quarter IFTA return by January 31. However, if you’ve been reporting with TruckLogics, you’ll have your return completed in no time.
Simply log in to your account to access your quarterly IFTA report that accurately lists all the totals needed to complete your return. The IFTA calculations are based on all of the information you’ve entered during the quarter. They can also be downloaded, printed, and emailed.
If you have any questions, please don’t hesitate to contact the TruckLogics support team.
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