Partners in Business

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Partners in Business
PIB TIP: CHOOSING A TRAILER. Among all owner-opera
PIB TIP: CHOOSING A TRAILER. Among all owner-operators, trailer ownership brings a $6,000 gain in yearly net income. Even with the additional costs of operating your own trailer, the average added earning potential in flatbed, dry van and reefer segments returns the investment in roughly two or three years. The Partners in Business program is […]
December 14, 2011
Partners in Business
PIB TIP: CHOOSING A TRAILER. Among all owner-opera
PIB TIP: CHOOSING A TRAILER. Among all owner-operators, trailer ownership brings a $6,000 gain in yearly net income. Even with the additional costs of operating your own trailer, the average added earning potential in flatbed, dry van and reefer segments returns the investment in roughly two or three years. The Partners in Business program is […]
December 7, 2011
Overdrive Extra
Fuel and Physics
With all the fuel saving products in the marketplace, how do you know what works?
December 1, 2011
Tread design and type of rubber compound account for 40 percent of a tire’s rolling resistance.
Partners in Business
PIB TIP: UNDERSTAND ESCROW ACCOUNTS. Lease purchas
PIB TIP: UNDERSTAND ESCROW ACCOUNTS. Lease purchase agreements often require an initial security escrow of $1,000 to cover expenses the lessee may fail to pay. Maintenance escrows, which are funded throughout the length of the lease-purchase, usually are required. A lease contract should state the precise purpose of escrows and that all unused escrows should […]
November 30, 2011
Partners in Business
PIB TIP: ASSESS LEASE-PURCHASE PLANS. Calculating
PIB TIP: ASSESS LEASE-PURCHASE PLANS. Calculating the total cost of a truck under a carrier’s lease-purchase plan can be difficult. Beyond knowing the monthly lease payment, make sure you know the total purchase price. The interest cost is only one of the factors. Given the price and truck’s condition at the lease’s start, you should […]
November 17, 2011
Partners in Business
PIB TIP: LEARN ABOUT WARRANTIES. Most warranties,
PIB TIP: LEARN ABOUT WARRANTIES. Most warranties, especially on used trucks, are limited. With new and used equipment warranties, take as much time as you need to understand the warranty being offered and the claim procedures, such as who accepts and rejects claims. Warranty costs increase with equipment age but can decrease with major preventive […]
November 9, 2011
Partners in Business
PIB TIP: THREE TESTS FOR A USED TRUCK. Three techn
PIB TIP: THREE TESTS FOR A USED TRUCK. Three technical tests should be pursued on a used truck before you buy it. The dynamometer or “dyno” test usually costs $100-$00 and determines the engine’s strength by measuring drive wheel power. While it’s running, a technician can look for leaks, also, because the engine will be […]
November 3, 2011
Overdrive Extra
Choosing a business form
There are three main things to consider when you choose a legal form for a business: asset protection, taxation and simplicity.
November 1, 2011
Tax requirements are simple for a sole proprietorship, the most common form of an owner-operator business.
Partners in Business
PIB TIP: KNOW A USED TRUCK’S MAINTENANCE HISTORY.
PIB TIP: KNOW A USED TRUCK’S MAINTENANCE HISTORY. While you’re asking your dealer for crucial paperwork, ask him for a record of the truck’s maintenance history, including oil analysis. Any well-managed fleet truck should have this. Any savvy buyer should ask or look for an inspection, test drive, comparison drive, surface clues such as a […]
October 26, 2011
Partners in Business
PIB TIP: EVALUATE USED TRUCKS. Ask to see informat
PIB TIP: EVALUATE USED TRUCKS. Ask to see information from a truck’s onboard computer from the dealer and carefully review the report’s details on idle time, brake actuation per thousand miles, the number of panic stops per thousand miles and time spent in each gear. Then compare your findings to statistics from your independent mechanic. […]
October 19, 2011
Partners in Business
PIB TIP: DEFINE YOUR BUSINESS. Before you lease a
PIB TIP: DEFINE YOUR BUSINESS. Before you lease a truck, spend some time researching the type of freight you want to haul. By knowing what industry you will haul for before you buy or lease a truck, you may uncover hidden costs and specific requirements that will influence your purchase. The Partners in Business program […]
October 12, 2011
Partners in Business
PIB TIP: UNDERSTAND LEASING CONTRACTS. As you prep
PIB TIP: UNDERSTAND LEASING CONTRACTS. As you prepare to lease a truck, make sure you know about alteration restrictions and that all warranties pass through you. Find out when payments are due, what to do in case of an accident or damage to the truck and understand the conditions under which you can get out […]
October 5, 2011
Overdrive Extra
Taking the per diem deduction
Knowing the per diem basics will help you navigate the tax labyrinth.
October 1, 2011
The per diem deduction primarily compensates you for the cost of meals on the road.
Partners in Business
PIB TIP: RESEARCH LEASING. Before you lease a truc
PIB TIP: RESEARCH LEASING. Before you lease a truck, get a cost comparison between an outright purchase and a lease from different dealers. Have your accountant assess each one. Make your lease term as short as possible and know what happens at the end of the lease. If there are mileage limits, make sure they […]
September 28, 2011
Partners in Business
PIB TIP: TRUCK LEASING TIPS: Spec the most common
PIB TIP: TRUCK LEASING TIPS: Spec the most common type of truck for your application, for the sake of resale value. Compare the state residual value with the resale value of a similar truck. Ask to see the truck’s maintenance records before signing the lease, and don’t rush. If possible, have an accountant or attorney […]
September 21, 2011
Partners in Business
PIB TIP: DETAILS ON DEDUCTIONS FOR TIPS: Be aware
PIB TIP: DETAILS ON DEDUCTIONS FOR TIPS: Be aware that on deductions for tips on maintenance service, tire changes, repairs and other such service, you can deduct them only if you actually pay the tip. Falsely claiming tips is fraud. The Partners in Business program is produced by Overdrive and the consultants at ATBS, the […]
September 14, 2011
Partners in Business
PIB TIP: HAVE A FIXED RESIDENCE. One way to avoid
PIB TIP: HAVE A FIXED RESIDENCE. One way to avoid an IRS audit is to make sure you have an established residence where you collect mail, even if it’s a parent’s house you rarely visit. Without a home to be away from, you don’t qualify for the daily per diem write-off for meals. The Partners […]
September 7, 2011
Overdrive Extra
2 trucks, 20 new costs
If you really want to be successful, don’t cut corners or try to save money when it comes to drivers. You get what you pay for.
September 1, 2011
The drivers you hire will make or break your operation. Solicit a large number of applicants, interview them thoroughly and check references.
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