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Get a notebook to carry with your receipt envelope.

This notebook will be used to record those expenses for which you cannot obtain a receipt, such as when you wash your truck at a coin-operated facility or personal use of your auto, so you can deduct the expenses at tax time. Forward this record to your business services provider monthly with your other receipts. You must track the date, location, amount and reason for each expense in your log in order to meet IRS ...

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Open a separate checking account for your business.

If you are the sole owner of the business, open an additional personal account and save yourself the extra fees associated with business accounts. Deposit your settlement checks in this account and pay yourself for driving from these funds. A separate account will also give you easy access to all of the information needed in case you are ever audited.

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Start the new year with a budget.

Without knowledge of your revenue and expenses you can only guess at how your business will perform. Accumulate three to four months of information to properly reflect your spending habits. Don’t forget to budget for savings, estimated taxes, unexpected situations and lean times.

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Owner-operators, how are you affected by rising fuel costs?

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Attention to detail

Texas trucker’s focus on maintenance keeps him on the path of success.

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A growing family: Kenworth T680 test drive

The Kenworth T680, though similar to its T660 and T700 brothers, forges new ground with a spacious, driver-focused interior.

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Speakout

Truckers weigh in on regulating brokers and weight and length limits for trucks.

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Roadside Attractions

A coffee cup collection, the weird case of Jabin Bogan, when patriotism turns to trouble and other interesting trucking industry items, plus Truck Gauges and Truck Gallery are featured.

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Pulse

In our March 2010 issue, we reported on the impending Comprehensive Safety Analysis 2010. The feds were trying to work out the bugs in nine test states, after starting with Colorado in 2008.

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Online

Get the latest on compensation for owner-operators and company drivers by attending a free webinar July 26 featuring Gordon Klemp, head of the National Transportation Institute.

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