Partners in Business

PIB tip: Use overdraft protection

There are options that are much less costly than bouncing a check.

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PIB tip: Save every receipt, no matter how small

Why “tip” the taxman? Place an envelope in your truck for collecting your receipts and send them at the end of each month to your business services provider.

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Kevin Rutherford emphasizes clarity of mission, strategy at GATS Partners in Business

In this podcast audio from the GATS Partners in Business seminar, Rutherford explores the difference between detail-heavy business tactics and what many owner-operators clearly need: defined goals and mission that amount to clear strategy.

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10 things to see, do and know for the Great American Trucking Show

The Great American Trucking Show starts this week (Aug. 21) and has plenty for drivers and owner-operators. As a primer for the show, here are 10 things you can see or do or should know for the show.

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PIB tip: Obtain a monthly earnings statement

All of your records should be converted into a profit and loss statement at the end of every month to show miles, revenue, costs and how much money you made or lost.

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PIB tip: 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. The Partners in Business program is produced by Overdrive and the consultants at ATBS, the nation’s largest owner-operator business services ...

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PIB tip: Save your log books

Your log books are your best record of your per diem (daily) expenses, primarily meals, so be sure to keep them in a safe place along with your receipts and tax returns. You may need your logs to prove your expenses, should you be audited.

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Credit, net income improving for owner-operators

A few sunny spots for owner-operators, and a few tips on increasing the profitability of your operation.

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On dying breeds — and free pickup bedliners!

When talking about past "outlaw" segments of trucking culture, owner-operators are hardly the primary participants. (Also: a contest from Plastikote to win a free pickup bedliner -- you're welcome.)

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Plan compliance duties before going independent

It’s easy to look at a load board and dream about getting those rates posted and not sharing them with your carrier. It’s another matter entirely to end up making less than you do now because of all of the additional costs.

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