ATBS

PIB TIP: PAY CREDIT CARD BALANCES. Having a business credit card is useful. But most owner-operators get into a trap of spending more money than they should. If a credit card balance is not paid off at the end of each month, the interest charges can exceed 18 percent. You’ll get the best rate on credit cards, and other lending forms, by keeping a high credit rating. The Partners in Business program is produced by ...

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PIB TIP: GET ONLINE ACCESS. Even if you don’t pack a computer on the road, once you’re signed up at your bank or credit union for online access, you can check your balance and cleared checks anywhere you have online access to guard against your own or your spouse’s failure to record to record a check. The Partners in Business program is produced by Overdrive and the consultants at ATBS, the nation’s largest owner-operator business ...

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Funding a nest egg

There’s still time to lower your 2010 tax bill. Pick the right retirement account to get the biggest bang for your bucks.

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Choosing a Carrier

When you consider moving to a new fleet, look beyond bonuses and other come-ons.

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PIB TIP: USE OVERDRAFT PROTECTION. Most banks offer this service, which automatically draws from your savings or credit card account to cover a bad check. If savings, you obviously need to keep a good stash to make it work. Linking to a credit card is a less favorable option, but paid off quickly it’s still a lot less costly than bouncing a check. The Partners in Business program is produced by Overdrive and the consultants ...

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PIB TIP: MANAGE CASH FLOW. The best practices for managing cash flow include using a business operating account and never taking cash advances. Avoid overdraft fees by recording every check as soon as it’s written. Don’t forget debit card purchases, and develop a system for logging automatic monthly drafts, such as utilities. The Partners in Business program is produced by Overdrive and the consultants at ATBS, the nation’s largest owner-operator business services firm, and is ...

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Industry’s top challenge: Finding drivers

Trucking executives favor the long-term viability of using leased owner-operators to meet their capacity needs.

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PIB TIP: HAVE A RESERVE ACCOUNT. The best owner-operators have at least $5,000 in reserve before they ever go into business. That amount should be maintained and increased, especially with a truck that ages. The purpose of the reserve account is to set aside money for large or unforeseen items that could put a large drain on your operating cash – major maintenance items, tires, quarterly estimated taxes and insurance deductibles, for example. The Partners ...

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PIB TIP: HAVE A RESERVE ACCOUNT. The best owner-operators have at least $5,000 in reserve before they ever go into business. That amount should be maintained and increased, especially with a truck that ages. The purpose of the reserve account is to set aside money for large or unforeseen items that could put a large drain on your operating cash – major maintenance items, tires, quarterly estimated taxes and insurance deductibles, for example. The Partners ...

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PIB TIP: CREATE SEPARATE BANK ACCOUNTS. It’s important to open a separate bank account that will be used to manage the income and expenses of your business. All your income from your trucking business should be deposited into this operating account. Trucking expenses should be paid for out of this account. The Partners in Business program is produced by Overdrive and the consultants at ATBS, the nation’s largest owner-operator business services firm, and is sponsored ...

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