partners in business

Partners in Business tip: Account for monthly variable costs

If you drive 9,600 miles one month and 10,000 miles the next, you’ll have two sets of costs for each month.

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Partners in Business tip: Use overdraft protection

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

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Partners in Business tip: Open a separate checking account for your business

Run a one-truck owner-operator business? Separate your business account from your personal account -- here's why.

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Partners in Business: Health and income insurance

Paying for coverage of personal risks is a cost of doing business.

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Partners in Business tip: Keep an escrow account for maintenance costs

Every good preventive maintenance schedule begins with a maintenance escrow savings account. A good formula for this ties the age of the truck to cents-per-mile savings.

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Partners in Business 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, who can then provide you with a monthly profit and loss statement as well as accurate quarterly tax estimates.

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Partners in Business tip: Change your own oil

A one-truck operator can save almost $200 a year by moving from gallon jugs to 55-gallon drums for oil purchases.

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Partners in Business tip: Properly spec your tires

Smart tire spec’ing can save money in two ways: reducing tire cost per mile and fuel cost per mile.

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Partners in Business tip: Get an engine inspection before you buy used

For any truck you’re looking at buying, try to get an engine inspection by an original equipment manufacturer shop for that engine’s brand.

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Partners in Business tip: Log maintenance records

Only with complete records can you track the work done on your truck and, when necessary, prove that required maintenance has been done.

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