partners in business

Partners in Business tip: Log your spending

Record every check or debit card purchase as soon as the money is spent. Here's how.

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Partners in Business tip: The benefits of trailer ownership

While leased operators don’t have the pressing need to provide a trailer that most independents do, they often find trailer ownership has significant earning potential.

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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 tip: Use overdraft protection

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

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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: Obtain a monthly earnings statement

All of your records should be converted into a profit and loss statement at the end of every month to show miles, revenue, costs and how much money you made or lost.

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Partners in Business tip: Develop a business plan

A business plan outlines the details of your operation, including the types of freight you’ll haul, the traffic lanes you’ll run and the rate you’ll be paid. Here's why you need one.

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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: Remember the warranty during truck loan negotiations

When you are negotiating for a truck loan, make sure your dealership is able to service your truck and that warranty work and downtime will have the least possible effect on your driving time and miles. Get warranty agreements in writing and make sure you understand them.

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Partners in Business tip: Factors that influence interest rates

Want to know what factors most influence your credit rating and, thus, your interest rates for truck loans? Here's what you need to know.

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