Partners in Business

PIB TIP: PROFIT AND LOSS STATEMENT. Your settlement statements and receipts should be sorted into like categories to add up for a total at month’s end. Then your operating information should be incorporated into a consistent format called a profit and loss statement, which should include how many miles you drove, your revenue, your costs and how much money you made during the month. The Partners in Business program is produced by Overdrive and the ...

Read More

PIB Tip

PIB TIP: SAVE YOUR RECORDS. You must keep the records that were used in the preparation of your tax return (records that support income and deductions) for at least three years from the date you filed the return. 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 by the load-matching service TruckersEdge, powered by TransCore DAT, and Schneider National Inc.

Read More

PIB TIP: TRANSPORTATION. For use of a personal vehicle for business, you should include the cost of the car and improvements, the date you started using it for business, the mileage for each business use and the total miles for the year. You should include your business destination and purpose of the trip. These details can be kept in the notebook you carry with your receipt envelope. The Partners in Business program is produced by ...

Read More

  PIB TIP: KEEP A NOTEBOOK WITH YOUR RECEIPT ENVELOPE. The notebook will be used to record those expenses for which you can’t obtain a receipt, such as for a truck wash at a coin-operated facility or personal use of your auto. You should give a record of these expenses to your business services provider monthly, along with other expenses. You must track the date, location, amount and purpose of each expense in your log to ...

Read More

TODAY’S TIP: When you apply for a loan, be prepared to provide as much information as you can. The more you tell a potential lender about yourself and your operation, the more comfortable he will be lending you the money. Show that you are a business owner first and a truck operator second. The Partners in Business program is produced by Overdrive and the consultants at ATBS, the nation’s largest owner-operator business services firm, and sponsored ...

Read More

PIB Tip

PIB TIP: SAVE YOUR LOG BOOKS. Your log book is your best record of your entitlement to per diem (daily) expenses, mainly meal costs. So be sure to keep it in a safe place along with your receipts and tax returns, both of which you may need if you are audited. The Partners in Business program is produced by Overdrive and the consultants at ATBS, the nation’s largest owner-operator business services firm, and sponsored by ...

Read More

Owner-Operator Almanac 2010

The Overdrive 2010 Owner-Operator Almanac offers maintenance tips and schedules, important dates and useful information to keep you ahead of the curve on what it takes to run a successful owner-operator business.

Read More

Free webinar to be on owner-operator compensation trends

The Partners in Business Retention Forum will offer a free webinar on owner-operator compensation trends with National Transportation Institute (formerly SignPost) head Gordon Klemp will be held 2 p.m. CST Nov. 5. Go to www.piblive.com/retentionforum/ for details on registering for it. Since 1995, the National Transportation Institute (formerly SignPost) has provided truckload carriers with detailed pay profiles to help them keep up with their competitors. NTI head Gordon Klemp will present third-quarter data just in from more than ...

Read More