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Partners in Business
The leading business training program for owner-operators.
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Latest Stories: Page 18
Partners in Business
Partners in Business tip: Define your business
Before you buy or lease a truck, spend some time researching the type of freight you want to haul.
June 10, 2020
Overdrive Extra
A closer look at insurance unique to power-only trucking
Insurance companies' policy and claims rules differ when it comes to the two types of insurance to cover trailers pulled power-only: so-called 'trailer interchange' and 'non-owned trailer' coverages. What you need will depend on operations particulars.
January 17, 2022
Partners in Business
Partners in Business tip: Develop a business plan
A business plan is very important for all owner-operators. It can outline many aspects of your operation such as freight types, pay rates and much more.
May 27, 2020
Overdrive Extra
What do you do when you can't source something as simple as oil?
Gary Buchs relays a tale from an owner-operator unable to source 5W40 synthetic oil for service at one of the biggest shops in the country, along the way underscoring tried-and-true, and novel, strategies toward dealing with today's myriad disruptions.
January 10, 2022
Partners in Business
Partners in Business tip: Use a separate credit card for business expenses
Having a business credit card may help you reduce the number of advances you take from your carrier and will make it easier to keep track of business expenses.
June 2, 2021
Overdrive Extra
A $21K overdue bill for ELD service you never used? How friends might help
For these small fleet owners, after three years of escalating overdue notices, their personal network finally cracked the case with a solution. Looking into 2022, invest in your own network to ward off problems, create new opportunities.
December 30, 2021
Business
Per diem tax breaks just got a lot simpler -- and more valuable -- for owner-operators
New IRS guidance notes there will be no need for owner-operators to determine any percentage of meal purchases from a restaurant to reap savings with 100% deductible per diem through all of 2021 and 2022. Savings could top $1,000 annually.
December 3, 2021
Business
How to save taxes, gain biz-management dividends with an S Corp structure
With owner-operator average income now topping $70K annualized, "we've set up a lot of S Corps this year," said ATBS. At that level, the S Corp structure really begins to make sense as a tax-savings and business management solution for a one-truck owner.
November 30, 2021
Overdrive Extra
Don’t be lured into dishonesty to reduce your insurance premiums
It makes for a valid reason for an insurance company to cancel your insurance policy. Once that happens, it follows you like a bad smell after hitting a skunk. No matter how hard you try you just can’t get rid of it and nobody wants to park next to you.
November 24, 2021
Partners in Business
Partners in Business tip: Track personal miles for tax savings
You can deduct mileage on your personal vehicle if you make a business-related trip. It could help you cut your tax bill when tax time comes.
February 26, 2021
Overdrive Extra
Using your business plan as a tool for success
“What will be the difference between the owners who thrive and those who do not?” Gary Buchs asks in this column on the value of the basic business plan, fully engaged over time. Avoid repeating mistakes by putting plans in writing.
October 27, 2021
Partners in Business
Strong freight, rates environment expected to last through 2022
ATBS President Todd Amen dove into some owner-operator benchmarking numbers in a Partners in Business webinar Thursday. The strong trucking market should last longer than normal, he said, but be prepared for the downturn. Also: Latest on per diem changes.
October 22, 2021
Overdrive Extra
'Bobtail insurance' 101
What we mean when we use the 'bobtail insurance' phrase can vary depending on the perspective of the speaker. Here, insurance agent/former owner-operator W. Joel Baker explains why elections beyond just basic non-trucking liability can assist owners.
October 21, 2021
Business
Catch the replay: Owner-operators' 2021 business performance, with ATBS
Catch the replay from the October 21 live webcast presentation and discussion with ATBS President Todd Amen, breaking down results from ATBS' analysis of owner-op revenue, income and cost data throughout the year thus far.
October 12, 2021
Overdrive Extra
Refresher on IFTA accounting for truck owner-operators, and effective fuel strategy
Gary Buchs charts the case of a client operator taken by surprise with his first quarterly IFTA report. Discussion yields an effective strategy -- to plan your fuel purchases based on the price you will pay for the fuel only, minus state taxes.
September 21, 2021
Business
Owner-op average income hits record, topping $70K annualized
Where do you stack up? ATBS President Todd Amen previewed some of the business services firm's owner-operator operational and financial benchmarking data Tuesday, with an operator-focused call coming 9/16. Find income, cost, revenue highlights here.
September 15, 2021
Overdrive Extra
Don't over-insure your trucking business
It could cost you thousands annually. Here, independent owner-op and insurance agent W. Joel Baker offers a rundown of the top 3 types of commercial auto coverages he sees owner-operators and small fleets paying for that they don't need.
September 7, 2021
Overdrive Extra
A case for communication simulation in driver, biz-owner education, training
Gary Buchs with a lesson from his part-time gig simulating a hospital patient in service of nursing-school education: "Talk about a different environment from trucking! Yet I can envision the value simulation training" could hold for drivers, owners.
July 20, 2021
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