Bookkeeping and Tax Services

Business services can help significantly with the organization and reporting of your owner-operator income, expenses, profit and loss reports, and taxes. But if you’re an owner-operator who wants to manage the business yourself, you need a surefire system to keep recordkeeping as simple as possible. Trucking bookkeeping is easier if you use consistent accounting systems and practices.

Use the folders for your monthly profit-and-loss statements and accurate quarterly tax estimates. ATBS offers a variety of business growth features, like profit planning, monthly financial snapshots, and benchmarking your performance against other owner-operators. That’s why an investment in ATBS RumbleStrip services is an investment in the future of your business.

• Read here to see ATBS’ answers to the most common tax questions asked by owner-operators.
• Services can vary based on company operations and gross vehicle weight (GVW).
• If you need help choosing an insurance provider, check out these 4 Quick Tips to Picking an Insurance Company.
• Contact us for more information or to get started on the path to better financial health.

Instead, invest in a RumbleStrip package, and understand why truckers around the country keep coming back to the experts at ATBS. The next thing you should look for in a bookkeeping service is a secure online portal where you can view your digitized documents and review your profit and loss (P&L) statements at any time. With a secure online portal, you don’t have to go into an office or call your bookkeeper to access your information. This is especially convenient for truck drivers who are on the road and aren’t always able to go in and talk to their local accountant.

Note your odometer reading on the first of every month.

Most trucking businesses use either a cash-based or accrual-based accounting method. At the end of the day, your most important concern is whether your trucking business is making money. ATBS services help you to document expenses, understand your profits and losses, and maximize your year-end tax deductions.

ATBS knows truckers are busy, and expenses are high – that’s why they’re here to help you save time and money with bookkeeping, tax, and consulting services. Accurate accounting services from our professional bookkeepers provide your CPA with the timely, organized data needed to do Truckers bookkeeping service your taxes. Our firm helps independent truckers and businesses maintain accurate exemption certificates and ease the headache of a sales and use tax audit. When it’s time for your annual tax filing, don’t end up on a last minute search for “trucking bookkeeping services near me”.

• Always report any changes in your operations to your insurance provider to ensure you’re covered in case of an accident.
• With ATBS, you can rest easy knowing your taxes will be filed promptly and correctly thanks to the support of expert tax advisors.
• If you purchase your vehicle after August 31, then you must pay your taxes within 60 days of purchase.
• All motor carriers operating with a gross vehicle weight over 26,000 pounds must have a New Mexico weight distance tax account.

In addition to your MC#, many states require an intrastate authority if you pick up and deliver loads within the borders of one state. Listen to our mini-cast about how to get startedwith the Trucker CFO. To learn more, listen to Colton Lawrence, the Trucker CFO, talk about the importance of working with the right team. Label the calculator’s register tape with the month and year, staple the printout to each corresponding stack of receipts, then drop the bundle back into the corresponding slot.

Get Your Trucking Permits

The FMCSA requires you to have $750,000 primary liability insurance and $100,000 cargo insurance. Depending on what you haul, additional insurance may be required. Always report any changes in your operations to your insurance provider to ensure you’re covered in case of an accident.

But, perhaps most importantly, working with ATBS helps you save time and money. We know how busy you are with your trucking business and we understand that your free time is precious. That’s why ATBS service packages help you to keep your business on track, without sifting through mountains of paperwork. Read here to see ATBS’ answers to the most common tax questions asked by owner-operators.

Truckers Bookkeeping Service is Here for You

If you need help choosing an insurance provider, check out these 4 Quick Tips to Picking an Insurance Company. Comparing your data to other owner-operators allows you to see the areas where your business is performing better than your peers, as well as the areas where you can improve. A good bookkeeper will be able to use this information to help you figure out where to make adjustments in your business to both earn and keep more money.

One out of every 25 owner-operators gets audited by the IRS for taxes each year. You want to avoid that happening to you, but you want assurances that you’ve done everything right if it does. Check expenses to your bank accounts to make sure they are legitimate expenses, especially if you’re not the only one with access to the account. With an accrual system, you recognize revenue when it’s earned (before it’s paid) and bills when received (before they are paid).

One of the most important relationships that we have in trucking is with Colton Lawrence and his Trucker CFO Team. They have the experience and expertise within the trucking industry that makes a difference for small businesses in trucking. When it comes to accounting and your taxes, you need to be able to have trust in your provider right off the bat. Whether you’re a single-truck owner-operator or run a small fleet, you know that a successful trucking business takes hard work and commitment. Understanding the financial trajectory of your trucking business, saving on taxes, and bookkeeping your expenses are all crucial business-end operations. With a wide range of trucking-specific features, DAT recommends the ATBS RumbleStrip product suite to help steer you on the right path.

ATBS offers bookkeeping and tax preparation services, among others. ATBS offers numerous service packages to meet every carrier’s unique tax and reporting needs. We’ve been helping independent owner-operators like you for over 50 years. Let our experts help with permitting, compliance, insurance down payments, and more so you don’t have to tackle it all alone. TBS is dedicated to spending the next 50 years making it easy for independents to get started and stay rolling.

The USDOT number is a unique identifier when collecting and monitoring a company’s safety information acquired during audits, compliance reviews, crash investigations, and inspections. Set your company up for success with help from Truckers Bookkeeping Service. Our team gives you the resources and support you need to focus on your business. Trucking management software (TMS) can help you keep track of everything easily. You can handle most tasks in the comfort of your cab using a smartphone, tablet, or laptop. If there is a discrepancy, you want to catch it quickly before it becomes a bigger problem for your trucking business.

Entrepreneurship isn’t for everyone, but anyone can become a successful entrepreneur. All you really need to be an entrepreneur is willpower and resources. Starting your own bookkeeping business can be a great way to build independence and flexibility in your life. It can also give you the flexibility to work remotely and do what you want on your own time. Imagine a life where you set your schedule, bring value to your clients, and relax when you want.

Have More Free Time

You will also have the option to organize your income and expenses into tax categories, allowing you to file your business’s taxes quickly and efficiently. Always start with a business plan that maps out your financial goals. This will help you stay organized when tracking your income and expenses as you work. By creating this first, you’ll be able to continually compare your actual finances with your goals to see if you’re staying on track. Starting your own trucking company can be both empowering and overwhelming.

The Giersch Group will simplify your daily accounting tasks and foster better financial health so you can focus on driving and have more time for your personal life. Contact us for more information or to get started on the path to better financial health. All accounting, bookkeeping, and consultation services are 100% virtual and available anywhere in the country.

You must keep all records used to prepare your tax return for three years from the date you filed the return. These three services offer unique advantages to bookkeeping for trucking business owners. All ATBS packages are designed specifically for truckers, with crucial advice in managing your profits, expenses, and deductions.

ATBS has helped me understand what I need to do to be better in certain areas. My consultant is very knowledgeable, down-to-earth, and helps me with any questions I have. To learn more, fill out our contact form to speak with an ATBS Enrollment Specialist, or view our services and pricing. Your summary and receipts will be returned to you each month along with additional Monthly Expense Envelopes for future use. Please keep your envelopes, receipts and log books for three years in the event the IRS wishes to audit your records. Numbers tell a story, you need CPA and CA experts to write, analyze, and execute the success story along with optimal tax filing.

Keep your books in order with bookkeeping services from small business CPA and CA team. Our incredible teams are experts in all things trucking, and we’ll be there to support you every step of the way. From helping you get insured and get paid quickly to staying compliant with the DOT and ensuring you have current permits, we’re here for you. It is a nine-digit number used by the IRS to identify taxpayers required to file business tax returns. This includes employers, corporations, partnerships, and other business entities. Some states require trucking companies to pay an additional weight distance travel fee.