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Voices: Page 114
Voices
Hot buttons: Legalize marijuana?
September 10, 2012
Voices
Owners, drivers: Stand up and be counted
āI know that if our owners and drivers stopped long enough to vote on the issues their voice would be heard.ā āMichael McRae, President of M&M Contractors and Specialized Carriers
September 6, 2012
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Voices
Reader: Government deserves some thanks
āThe public needs trucks and truckers, and truckers need what the public pays for. The public will is expressed through government, not talk radio.ā āJim Mesthene of Waltham, Mass.
September 4, 2012
Voices
Government and jobs: Guiding hand? Or hands off?
Readers weigh in on our September issue hot-button question: What role should the federal government have in job creation?
September 1, 2012
Voices
Reader: āShipping Warsā coverage ādisgustingā
Mary Hanlon of Milton, Ky., had strong words for Overdriveās coverage of the āShipping Warsā TV show.
August 29, 2012
Voices
Track business use of your personal vehicle.
To deduct this expense, record the cost of the car, the date you started using it for business, and the total miles for the year. For each business trip, such as to the bank, record the date, mileage,Ā destination and purpose. This information can be kept in a notebook you carry in the vehicle so that [ā¦]
August 29, 2012
Voices
Use a separate credit card for business expenses.
Try to find a credit card without an annual fee and with a low interest rate. If possible, pay the balance in full every month. Having a business credit card may help you reduce the amount of advances you take from your carrier and will make it easier to keep track of business expenses.
August 29, 2012
Voices
Save your log books.
Your log books are your best record of your per diem (daily) expenses, primarily meals, so be sure to keep it in a safe place along with your receipts and tax returns. You may need your logs to prove your expenses, should you be audited.
August 29, 2012
Voices
Obtain a monthly earnings statement.
All of your records should be converted into a profit and loss statement at the end of every month. The statement should show how many miles you drove, what your revenue was, what your costs were and how much money you made or lost during the month. You can compare month to month to see [ā¦]
August 29, 2012
Voices
Save every receipt, no matter how small.
Why ātipā 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. Your financial services provider will tell you if [ā¦]
August 29, 2012
Voices
Get a notebook to carry with your receipt envelope.
This notebook will be used to record those expenses for which you cannot obtain a receipt, such as when you wash your truck at a coin-operated facility or personal use of your auto, so you can deduct the expenses at tax time. Forward this record to your business services provider monthly with your other receipts. [ā¦]
August 29, 2012
Voices
Open a separate checking account for your business.
If you are the sole owner of the business, open an additional personal account and save yourself the extra fees associated with business accounts. Deposit your settlement checks in this account and pay yourself for driving from these funds. A separate account will also give you easy access to all of the information needed in [ā¦]
August 29, 2012
Voices
Start the new year with a budget.
Without knowledge of your revenue and expenses you can only guess at how your business will perform. Accumulate three to four months of information to properly reflect your spending habits. Donāt forget to budget for savings, estimated taxes, unexpected situations and lean times.
August 29, 2012
Voices
Reader: āThe grass doesnāt get any greenerā
Readers give kudos to the trucking company owner (other than themselves) in their lives.
August 21, 2012
Voices
A look in the mirror: Is Overdrive āfit for duty?ā
Readers respond to Overdriveās August 2012 cover story, āFit for duty,ā about carrier efforts to recruit former military service members to driver ranks.
August 20, 2012
Voices
Hot buttons: Your choice for U.S. president
August 13, 2012
Voices
Owner-Operator of the Month: Brad Chapdelaine
Brad Chapdelaine devotes as much attention to local outreach as he does his bottom line.
August 8, 2012
Voices
Driver on detention pay: āIf all else fails, prayā
Following August 2012 reporting on uncompensated detention pay, Overdrive readers weighed in on practical problems with collecting detention from shippers and receivers.
August 7, 2012
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Regulations
FMCSA's non-domiciled CDL rule in limbo after court grants emergency stay motion
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