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Latest Stories: Page 19
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
Overdrive Extra
Quarterly estimated taxes due next Tuesday
Set aside the time to deal with the administrative side of your business. Like preventive maintenance on your truck, proper attention now will save you hours and money in the future and lower your stress, setting you up for better decision-making.
June 9, 2021
Business
New tax break for owner-ops uncovered in restaurant stimulus
Savings could amount to as much as $1,000 on tax bills. It comes from being able to deduct 100% of the cost of restaurant meals while on the road instead of the traditional 80%. It will be in effect for all of tax years 2021 and 2022.
June 3, 2021
Overdrive Extra
Know the value of your time to assess true profit
Gary Buchs on how to assess cost, profit and driver pay per hour to evaluate any given load. It could help you know that customer who’s got a huge detention problem is no longer worth the time and effort, among other benefits.
May 3, 2021
Overdrive Extra
Roadcheck prep: Invest in inspections to save money, hassle later
A good way to learn and gain confidence that you won’t get a roadside violation is to invest in equipment inspection, observe the inspection process at your shop/the scales, and ask questions.
May 22, 2018
Business
Weighing an engine rebuild vs. a truck trade
When you've got to choose between overhauling an engine or trading in an aging truck, there's a lot to consider. Here's how owner-ops Phil and Annett Albert made the decision.
April 2, 2021
Overdrive Extra
There's much more to business ownership than having an authority
History is rich with companies that worked tirelessly to save their sinking ship rather than change when the need became inevitable. Yet failure to effectively plan for the change can be its own Achilles Heel of sorts.
March 29, 2021
Business
Owner-operator income saw strong 2020 gains
The average net income in 2020 for leased and independent operators combined jumped to $67,742 in 2020, thanks to pandemic-related changes.
March 16, 2021
Regulations
How to mount an effective DataQs challenge
Setting up a successful DataQ begins at the scene of the crash or routine roadside or weigh station inspection -- documenting the facts of the case and, then, following through when errors are made.
February 15, 2021
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