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Tag: PIB tips
Partners in Business
PIB TIP: TRACK PERSONAL MILES. You can deduct mile
PIB TIP: TRACK PERSONAL MILES. You can deduct mileage on your personal vehicle if you make a business-related trip to the bank, the post office, a business meeting, a truck show or a dealership, supply store or parts yard – even to a grocery if your purchases are business-related. Keep a log on the dash […]
June 29, 2011
Partners in Business
PIB TIP: PAY CREDIT CARD BALANCES. Having a busine
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 […]
April 13, 2011
Partners in Business
PIB TIP: GET ONLINE ACCESS. Even if you don’t pack
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 […]
April 5, 2011
Partners in Business
PIB TIP: MANAGE CASH FLOW. The best practices for
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 […]
March 21, 2011
Partners in Business
PIB TIP: HAVE A RESERVE ACCOUNT. The best owner-op
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 […]
March 15, 2011
Partners in Business
PIB TIP: HAVE A RESERVE ACCOUNT. The best owner-op
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 […]
March 15, 2011
Partners in Business
PIB TIP: CREATE SEPARATE BANK ACCOUNTS. It’s impor
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 […]
March 8, 2011
Partners in Business
PIB TIP: MAINTAIN PROPER INFLATION. Maintaining co
PIB TIP: MAINTAIN PROPER INFLATION. Maintaining correct inflation is free and is the highest saving maintenance you can perform on your truck. Improper inflation is by far the greatest reason that tires fail or wear out early, also wasting fuel. Daily pre- and post-trip inspections give owner-operators the chance to check pressures and look for […]
February 22, 2011
Partners in Business
PIB TIP: PERFORM ROUTINE MAINTENANCE. Proper maint
PIB TIP: PERFORM ROUTINE MAINTENANCE. Proper maintenance of tires, wheels, axles and the steering column also will help keep your tire costs down. Wheels naturally lose alignment and balance. Bushings, shocks, bearings and valve stems wear out. Checking wheel alignment periodically can pay big dividends. Whenever you start seeing a heavy spot or a flat […]
February 16, 2011
Partners in Business
USE WIDE SINGLES. Wide singles weigh less than dou
USE WIDE SINGLES. Wide singles weigh less than doubles and save fuel. They also cost less than the two tires they’re designed to replace, although you have to buy new rims to get in the game. Wide singles are retreadable, too. An automatic tire inflation system can help keep the tires inflated to proper pressure. […]
February 9, 2011
Partners in Business
PIB TIP: FRIDAY BEST DAY FOR FREIGHT. A Friday is
PIB TIP: FRIDAY BEST DAY FOR FREIGHT. A Friday is usually the best day of the week for freight. Being under a load with the most possible miles over the weekend will make the best use of your time. The Partners in Business program is produced by Overdrive and the consultants at ATBS, the nation’s […]
July 12, 2010
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