Accounting

Eight Keys to a Rock-Solid Trucking Invoice

Today, most accounting software programs allow you to design your company’s invoice within minutes. Just key in some information, drop your logo into the template and you are in business. Some accounting software may not walk you through everything you need to include in your invoices, however. Having thorough, accurate information ensures that the invoice can be tracked and there is a better chance of the customer paying on time.

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Remember These Tax Deductions for Your Trucking Business

Whether you operate under your own authority or lease on to a carrier, any expense related to running your trucking business is tax-deductible.

Below are some common business expenses that are sometimes overlooked when owner-operators file their taxes. Remember to keep receipts and other records of these expenses throughout the year so that you can provide proof to the IRS if necessary.

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Remember This Deduction on Your Trucking Company's 2016 Taxes

An Expanded Deduction for Businesses

Just days before Christmas 2015, Congress left a big gift under the tree that trucking companies and other businesses can use to save on their taxes for 2016.

Section 179 of the federal tax code allows companies to deduct money spent on equipment from their taxes. Congress’ “Protecting Americans from Tax Hikes” (PATH) Act, which President Obama signed into law on Dec. 21, 2015, permanently increased the annual cap on that deduction from $25,000 to $500,000.

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