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Showing posts with label ”trucking company”. Show all posts
Showing posts with label ”trucking company”. Show all posts

Friday, March 23, 2018

Are You Ready for the Upcoming UCR Deadline?

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ExpressTruckTax has some excellent news for the trucking industry! After nearly a 90-day delay, you are now able to complete your annual Unified Carrier Registration process for 2018.

Unified Carrier Registration, or UCR, requires that drivers and companies who operate a commercial motor vehicle for interstate or international commerce, register their business with the state and pay an annual fee based on the size of the fleet.

Luckily, the UCR fees for this year have been reduced by 9.1%; it doesn’t get much better than that!

You can expect that UCR fees will increase slightly for 2019. However, they will still be 4.6% lower than the fees you paid in 2017.

If you’re a broker, private carrier, or freight forwarder, you are required to register and pay also.

Why The Delay for UCR?


UCR’s usually are available on October 1 and close on December 31; however, this year was a different story due to legal questions centered around a proposal that was issued last September by the Department of Transportation (DOT).

The proposal sparked a lawsuit to be filed by the Small Business in Transportation Coalition against the UCR Board. To make a long story short, the coalition claimed that the UCR Board violated federal open meetings laws for the new fee structure and 2018 registration period to be discussed.

The court was in agreement that the UCR Board failed to provide the proper notice to the public about the meetings but decided to keep the decisions that were made by the board, but what does this mean for you?!

When Do I Need To Register & Pay My UCR Fees?

Great question! You have until April 5 to register and pay your annual fees UCR for 2018.

Here’s what you’ll have to pay this year and next for UCR:



Where Can I Register & Pay UCR Fees?

You can register, process, and pay for your Unified Carrier Registration, or UCR, fees in one place at Official UCR Board Certified Registration website.

April 5th will be here before you know it, so take a moment and handle your UCR requirements today while you still have time!
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Wednesday, March 8, 2017

Use Factoring To Get Paid The Same Day

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The trucking industry can be hard to break into. You need a good cash flow to get your business started and to keep it going. Just because you’ve established yourself as an owner-operator doesn’t mean that you won’t face slow periods where you need a little extra cash flow to get by. Now, this doesn’t mean give up, it simply means consider the option of factoring to get cash fast for your business.

Factoring

Factoring can be the solution to helping you manage your cash flow for your company because it helps you get cash fast because factoring is an advance on accounts receivable.

Basically factoring companies give you a cash advance by paying you for the invoices on loads that you’ve already delivered. Usually, once you deliver a load you won’t get paid for it until 30 to 90 days later, so factoring cuts that time out by paying you the same day.

Drivers and owner-operators tend to turn to factoring as a way to keep their business afloat or to get their business started for a variety of reasons. For example, factoring could be the best option to get paid the same day when drivers can’t cover their bills, when they have a major fuel invoice, or need to pay their drivers. Different companies have varying amounts of time on when drivers actually get paid, and factoring will help drivers get paid the same day instead of waiting.

When you’re just starting out and want lease a new truck factoring can provide the cash that you need to cover business-related purchases in order to get your owner operating business going.

Before you get paid you will negotiate an agreement with the factoring company. The money you get upfront will be a percentage of the amount the load your client owes you. In the factoring agreement, your customer will pay the factoring company for the load you delivered and the factoring company will keep an agreed upon percentage, then you’ll receive the rest.

Our Top Factoring Companies

Here at ExpressTruckTax we pride ourselves in providing quality service and helping truckers out in any way we can, that’s why we’re telling you about two trusted, and outstanding factoring companies that you can turn to for cash advances.

Since 1994 TCI Capital has been helping those in the trucking industry and more get the cash they need on the same day instead of waiting for it. TCI has experienced and knowledgeable representatives to help serve clients with even the most unique funding needs.

Also, TCI offers the credit history and payment trends of potential clients to help companies take on new customers with confidence, and provides online reporting to keep you informed about your transactions at all times.

FleetOne has 28 years of experience in trucking finance and will work hard to get you funding within 24 hours. By providing credit checks and offering an experienced support team to answer all of your questions, FleetOne makes the factoring process quick and simple.

The FleetOne mobile app can be used to make factoring even easier, by providing you with the ability to take a picture of invoices, documents, and more to instantly scan and upload to your FleetOne account. The app also keeps all of your documents and transactions in one convenient location.

ExpressTruckTax is Here To Help


If you have any questions about factoring or about what we can do to help you e-file your HVUT and accurately calculate your IFTA totals please don’t hesitate to contact our dedicated support team at ExpressTruckTax via live chat, phone, or email.
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Friday, January 27, 2017

The Issues With Leasing

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Do you hear that? It’s the call of the open road, with miles of freedom. It would just be great to be an owner operator right? With the ability to schedule your own dispatches, and to drive without little company policies to follow or a manager constantly watching you to make sure you don’t make mistakes? Well to do that you need your own truck to operate, and one way to do that is by leasing one.

A Little About Leasing


Leasing is basically another word for borrow because you’re using someone else’s equipment. Only instead of ‘borrowing’ the semi truck you’ll be paying to use it. In order to lease a truck, you’ll sit down in an office and agree to a contract with set monthly payments over a certain amount of time. The average lease lasts about three years, then you’ll be on your way, driving a truck that someone else owns.

Many truckers turn to leasing because it’s a quick option to jump in a truck when their credit isn’t in order to buy a truck or their finances aren’t in order, because leasing companies often don’t turn those with bad credit away, and don’t require a down payment.

It’s seen as a good way to start driving as an owner operator while you can get your finances together and credit score up to buy your own truck. However, there are some negatives with leasing to consider.

The Downsides of Leasing


When you lease a truck, it’s not your own. Now you may be comfortable with that, but you also might not be. Part of the call of the open road is the romance of being attached to your truck. Not to be mushy or anything but in the automotive industry people really love their vehicles. Will you be able to give your truck up at the end of the agreement?

Plus, when the truck isn’t yours you can’t modify it. Lease contracts will prevent you from installing lift kits, or the latest technology to make your life easier as a trucker.

If you think that leasing is your way to get into a brand new truck you’re wrong. Just like with buying a newer trucker, leasing a newer truck comes with higher monthly payments. Chances are that if you’re trying to start your business you’ll be in an older truck with a lower monthly payment at first.

Also, leasing isn’t a way to get out of higher monthly payments due to poor credit. Your monthly rates will still be higher when leasing if you have a bad credit score.

Speaking of monthly payments, did you know that leasing companies have protecting their vehicles from depreciation in their best interest? So, they want their trucks to be perfectly repairs and maintained. will add on a maintenance fee to your monthly payment. They’ll also add in the cost of insurance.

Don’t forget to watch out for lease contracts that have step up agreements, meaning that over time the amount you pay will increase.

If you buy a used truck you can use it for its trade in value to help you out with your down payment on a new truck. However, with leasing you have to give the truck back, leaving you with nothing to trade in.

Sure, you can lease to own, but generally, at the end of your leasing contract you’ll end up paying more for the truck than you would have if you would have simply bought the truck up front.

Is Leasing For You?


Sometimes leasing is the right option to help guys get their business started. As their business grows they can buy their own new or used truck or continue to lease. Speak with a financial advisor to figure out your best option for your current financial situation and business plan.

For more trucking trips visit ExpressTruckTax.com and please share your thoughts about leasing in the comment section below.
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Wednesday, January 18, 2017

4 Ways For Owner Operators To Improve Business

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Maybe you want to be an owner operator for the obvious reasons like the freedom of owning your own rig and making your own transport decisions, or you’re currently an owner operator looking for ways to improve your business. Either way, it takes a patience and a few attitude adjustments and you’ll have to develop a few new habits in order to get the bigger paychecks to roll in. Luckily we have a little advice on how to make it big as an owner operator.

Successful Qualities In Owner Operators


1. Realize Your Value


Right out of the gate you have the realize that people will pay you for your value. You’ll earn as much as you’re worth, so it’s not good to get cocky and lazy. Assuming that your work is worth more than it is won’t get you anywhere. Instead, you have to put in the time and build quality relationships.

You will have to put in more hours. If you’re already working overtime, unfortunately, you may have to squeeze in even more hours on the road. Your weekend life may become a little nonexistent for a while in order to establish yourself. Also, keep in mind that more hours on the road, means more time away from home, so it’s best to be in a position where your pets and family understand why you’re around less.

With more freedom comes more responsibility. You have to make the calls, schedule dispatches, file all of the paperwork, and more. You also can’t assume that other people will fill out paperwork on time or correctly. Be sure to check in on them and go over their work. 

2. Be Practical With Income


The thrill of a bigger paycheck is extremely exciting. It gets you thinking about all the stuff you could buy, like a lift kit for your wrangler or maybe even the down payment for a pool in your backyard. However, you have to wait before spending money on yourself, because there are bumps in the road.

There will be months where business is slow, your truck will need work done, you could catch an illness that makes you unable to drive for a few days, and you could be apart of an accident. We can’t predict the future, but we do know that some days you’re the windshield and some days you’re the bug. So, make sure you have money set aside to cover emergencies.

When it comes to your truck a warranty can help, but they don’t usually cover everything. Take care of your truck. Keep it clean, take it for regular maintenance and tune-ups. Don’t push those oil changes off! Your truck is your expensive tool, it’s not a toy. It’s best to get the total value out of it so you don’t have to face the high costs of getting a new one. 

3. Market Yourself


People won’t magically come to you, you have to make yourself available, and you have to find them. Then build long-lasting relationships with them. Building a longterm relationship with a carrier will bring in more business on a regular basis. You don’t want to have to go hunting for more work every month.

However, not every carrier is the right carrier. Some cut corners and have bad practices. Research everything you can about your options as far as their rates, costs, customer records, safety records, internal relationships, and more.

Take advantage of the internet. Have a site for your business built and spread yourself all across social media and trucking boards. Create a LinkedIn profile and place ads on Craigslist that include your resume. Make it possible for anyone looking for an owner operator to find you. Also, establishing a web presence could lead you to lifelong networking opportunities to keep your business afloat for as long as you can keep on trucking.

Being an owner operator is expensive. Be sure to total in the costs of gas, meals, truck insurance, cargo insurance, tax fees, truck payments, and more. If you like getting breaks on a few of these expenses maybe you should stick to being a company driver.

4. Be Patient


Stay calm, and keep driving. It takes a long time to become a successful owner operator, we’re talking months to years. On average, an owner operator takes home about 40k during their first year, and that’s if they work extremely hard.

You need to slow down and be a planner. Make meetings with financial advisors to get a business plan together. Take the time to consider all the options when buying a truck, between new, used, or leasing.

Heck, take a step back to think about if you truly want to be an owner operator. Seek out other owner operators and ask them for advice on how to get started and what it really takes.

Do You Have What It Takes?


As long as your patient, realistic, ready to put in extra work, and make financially smart decisions you’ll be on your way to becoming a successful owner operator. For more trucking tips visit ExpressTruckTax.com, and be sure to comment on what it takes to be a successful owner operator in the comment section below.


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Wednesday, December 21, 2016

Common Start-Up Trucking Company Mistakes

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Trucking is a competitive industry that millions of people try to break into every year. Also, many truckers seek to make the transition from truck driver to owner operator, and unfortunately a lot of them fail. If you want your trucking company to make it avoid these common mistakes.

New Guys Don’t Plan

Sometimes new trucking company owners don’t take the time to consider what will make their business work or fail. Instead, they say goodbye to their managers and take off down the road without being sure of their next move.

They don’t sit down with a CPA or business professional who can help them draw up the plans for getting equipment, hiring a few people, getting loans, and more. They go in blind and get hit with too many unknowns, and often times crawl back to their manager to ask for their job back as a result.

They don’t plan for more than one load at a time. They haul something to a city far away and drive home with an empty trailer wasting days at a time. Try to get a few loads near each other to make getting out there and back home worth it.

Their Finances are a Mess

With a bad credit score and bad financial planning bring on a lot of problems fast. If you spend all your money on one top of the line rig what will your other drivers use? Something that should have been left in the junkyard years ago?

Don’t just jump in and buy something. If your credit is a mess you’ll have trouble getting a proper loan, or your monthly rate and interest charges may go through the roof. Consider leasing as a cheaper option. There are even lease to own options available.

Another rookie mistake is not having any money set aside for maintenance and accidents. Trucks need regular servicing and run into problems just as much as we do, so be prepared in the event of dents, dings, and accidents. Will you be able to stay afloat if one of your trucks can’t be used for a month?

Then they also forget or don’t realize that shippers pay out on 40 to 60-day bases, so for a load they deliver today, they might not get paid for it for up to two months. What in the world? No money for two months? Then how will you pay your bills and employees? By planning ahead by having savings in advance ready to go in order to avoid payday loan services.

They Cut Corners

Instead of taking the time to call people in their area and develop quality relationships with shippers they just hit the load board over and over for quick, one-day loads that are competitive and don’t offer much return.

They get shoddy equipment that quickly malfunctions and hire less than reputable truckers that will deliver a load for cheaper, but don’t exactly build the best relationships with truckers.

They skip out on quality people to work in the back office at home. Without someone to do the paperwork and filing then it will all come back on you. Do you have time to handle everything yourself? Will you remember to keep up with tax filings and DOT regulations?

They Don’t Market Themselves

How can shippers choose you if they don’t know who you are? Put your brand on the side of your trucks. Put your drivers in uniforms with hats and shirts that display the name of your company.

Also, you can have a small team at home that works on making outbound calls to shippers in order to set up meetings to introduce yourself and talk about your business. As a result, long lasting relationships with repeat customers can be built.

You need to invest a little into having a professional website that displays your contact information. Plus, take advantage of social media to display your trucking company to millions of people online. Eventually, as your budget grows you can invest in google and social media ads.

They Start off too big

A lot of new guys cut off more than they can chew in the beginning and may choke as a result. Instead of slowly growing with two rigs they jump into business with five new trucks. If you don’t have loads for them to carry they’ll sit and collect dust as the bills pile up.

They hire truckers from all over. Someone in Charlotte will start paying guys in New York and Chicago instead of getting in with their local guys who usually are more reliable with cheaper rates. Creating a few personal relationships with truckers you can give raises to as your company grows will take you a lot further than have too many truckers all over the place.

There are too many people in the back office. New owner-operators get nervous about all the stuff that needs to happen so they’ll bring on secretaries and a big sales team, without considering the fact that they can’t pay that many people yet. Wait for the business to roll in before promising paychecks to too many people.

Slow Down and Plan it

Your trucking company can be successful. All you need to do is sit down with a financial planner and build a plan for your growing company. It may take off a little slower than expected, and there may be a few more things to consider than you thought, especially financially.

However, by taking it slow and adjusting to your new role as an owner operator and by building quality, long lasting relationships, before you know it you could have 10 trucks in your fleet or more!

For more tips on how to make it as an owner operator visit ExpressTruckTax.com and be sure to share your secrets to success in the comment section below.
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Monday, January 18, 2016

Celebrity Trucking: Famous People Who Used to Drive Trucks

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You ever wonder if that driver you’re passing is gonna be the next Elvis Presley? Okay, maybe not -- but the King of Rock used to be king of the road. Before going on Christmas Vacation, Griswold patriarch Chevy Chase was also once a truck driver. So maybe you knew those -- but what other stars used to live the trucking life?


A Particular Set of Skills


Not only has Taken star Liam Neeson played a Jedi Knight and a Batman villain, he was once a member of the Trucking Nation. Before making a name for himself on the screen, Neeson drove a truck and operated forklifts for the Guinness brewery. Turns out his resume is as varied as his acting abilities!



Soldier, Trucker, Actor


You may know Charles Bronson from film classics like The Magnificent Seven and the Death Wish series, but he too spent time behind the wheel. Drafted into the Army in 1943, Bronson drove trucks for the Air Corps before becoming a tail gunner on a B-29 bomber.

Hasta La Vista, Baby


While on the road, one trucker found his true calling after watching Star Wars. Director James Cameron quit the trucking business and went on to become one of the biggest filmmakers in history -- whose film Avatar was only recently de-throned as highest grossing domestic release by the latest Star Wars picture. Do you think his fascination with blowing up trucks in his movies is some kind of therapy?

Trucked by an Angel


After driving a cab, future gospel singer and Touched by an Angel actress Della Reese sought more money as a truck driver. Reese’s route had her hauling produce from Toledo to Detroit a few times a week. While she went on to become a household name, Reese enjoyed trucking, and especially liked that she never had to load or unload her truck!

From Stardom to Trucking


On the other hand, how many celebs decided the trucking life is for them? Once a wide receiver for the Dallas Cowboys, retired player Roy Williams now runs his own fleet, RDUB Trucking out of Odessa, TX. While it’s not the retirement he envisioned -- his company now operates with 14 vehicles. Not a bad retirement plan if you ask me!

But whether you’re going to be the next Elvis, writing the next summer blockbuster, or starting your own fleet -- you have to keep up with your 2290’s. So you're not as famous as Liam Neeson, but we'll still help you file your 2290 at ExpressTruckTax. And if you're a fleet owner like Roy Williams, check out ExpressIRSForms for W-2s and Obamacare Forms 1094 & 1095.

If you have questions, our US-based support team is available through phone, email, and even live chat. We'll assist you any way that we can by phone at 704.234.6005, or by email at support@expresstrucktax.com.
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Thursday, November 18, 2010

Freight Logistics for Beginners

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Featured Blogger
Benjamin Bellville
When you go to start a trucking company it is important to understand freight logistics for beginners as this is the core of a trucking operation, whether a one truck operation or a multiple truck fleet. Logistics is defined as the management of the flow of goods, information or services from the point of creation to the point of consumption. Freight logistics simply put is the process by which you will get the goods from point A to point B, but entails much more than just driving the truck. Let’s take a look at all of the operations that will make up your freight logistics daily process.

1. Management - managing yourself, other drivers or employees to make sure that all the cogs in the wheel are rolling together properly.
2. Booking Freight - making contracts for direct freight or finding loads from brokers on load boards.
3. Dispatching - properly assigning the load to a truck that can get the freight there in a timely and compliant manner.
4. Safety and Compliance - ensuring that all company operations follow federal and state guidelines for safety and compliance, as well as keeping the company files stored properly up to code.
5. Accounting - keeping proper records of accounts receivable and accounts payable.
6. Transporting Goods - driving in a safe and compliant manner while making sure to be on time with agreed to scheduling for pickups and delivery.
7. Customer Relations - building strong relationships with brokers, shippers and receivers as well as any businesses you work with to maintain other aspects as mentioned above.
8. Mechanical Upkeep - making sure your equipment meets guidelines set forth by federal and state regulations, keeping it looking presentable and professional.

Perhaps the number one reason that many one truck operations fail quickly is that they are started by a former owner operator who is used to someone else performing all of these tasks for them and they neglect one or more of these steps when they operate their own company. You have to be able to wear many hats as an independent trucker and have the time to dedicate towards the cultivation of all areas.

It can seem overwhelming at times to find the time to put towards each task as much of your time is spent doing the transporting of goods and you also have to have proper rest so you can be safe behind the wheel. In order to accomplish this you need to be able to kill many birds at a time rather than doing each separate. Multitasking properly is something you should be good at before you even consider starting your own small trucking company.

In my next blog post here on Express2290 I will be getting into ways in which you can make freight logistics for beginners more manageable to optimize your time and your business image so be sure to come back and check it out.
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