Trucking Accounting & Tax Preparation Services

Many preparers simply use last year’s tax return to calculate your current year’s tax estimates. However, trucking is an ever changing industry and you need a service that offers current year, timely, tax estimates based on how you are performing now, not what happened last year. Created by a professional accounting firm in Atlanta, Georgia, TranspoCFO provides quality bookkeeping services to trucking businesses.

If there is a discrepancy, you want to catch it quickly before it becomes a bigger problem for your trucking business. 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. You may submit a summary of your expenses using our online form or you may choose to include it in your monthly expense envelopes that you provide to us. 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.

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When outsourcing, it’s important to choose a reputable provider with experience working with trucking companies. Keeping your business’ books is a full-time job and a critical part of your operation. The Trucker CFO is a Certified Public Accountant (CPA) who specializes in helping owner-operators, independent contractors, fleet owners and trucking entrepreneurs. With our bookkeeping service, we utilize strategies and solutions to help you manage your money effectively and help increase your profits. Also, having a bookkeeper who prepares taxes makes it easier to file your tax return. If your bookkeeper and tax preparer work together, they can find all the legal deductions you are entitled to, so you don’t pay more in taxes than you have to.

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. At PorteBrown Accountants and Advisors, they understand that transportation companies are the lifeblood of commerce and the economy.

Bookkeeping Tips for Truckers: The Basics

During the 14-day protest period, TBS will establish your BOC-3 while you file for insurance. TBS will process your MC#/USDOT Number and BOC-3 for free (both are required to activate your authority), with no annual membership fee or application processing fee. Your out-of-pocket cost will be the $300 Federal Motor Carrier Safety Administration (FMCSA) registration fee and the $50 BOC-3 registration fee which covers the lower 48 states. Let TBS deal with the mountains of paperwork and complicated forms. Our experts will make sure everything is processed correctly the first time, so you won’t have to wait to get those big rig wheels turning. There are numerous reasons to choose TBS as your factoring and back-office support team, but here are few quick reasons why so many truckers are part of the TBS family.

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. Safety audits occur at any time after your USDOT Number is activated.

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Trucking bookkeeping services that allow you to scan receipts make it even easier to track your business expenses. Having accurate records is also essential in the case of IRS audits. Yes, many trucking companies outsource trucking accounting services to third-party providers. Outsourcing is a cost-effective way to manage your financial records while allowing you to focus on running your business.

Know how Invensis provides accurate accounting & bookkeeping services for a restaurant which helps effective cost monitoring and growth. Keeping compliant is as important as finding loads to haul and keeping a well-maintained vehicle. This e-book will tell you how to stay DOT-compliant and will help you decide whether you have time to handle the process yourself or need to hire a service truckers bookkeeping provider for that part of your business. If you decide to hire a compliance service, this e-book will guide you through some of the regulatory and safety questions to help you get the most for your money. Truckers should maintain separate accounts for personal and business expenses to make it easier to track and prove a clear separation between personal and business expenses.

Waiting on invoices to be paid in full makes it difficult to grow your business. With freight bill factoring through TBS, you can get paid hours after delivering a load. Use your working capital to help improve and expand your business, and let TBS take care of your back-office billing and collections. 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.

• As a truck driver, you may have a hard time keeping good records while on the road.
• Many of our CPAs have dedicated their careers to finding ways to save truck drivers money and time.
• They are a certified QuickBooks ProAdvisor able to train your staff on the software and integrate cloud-based bookkeeping with their consulting services.
• 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.
• The bookkeeper should be able to archive all of your important paperwork in their secure database.
• Use your working capital to help improve and expand your business, and let TBS take care of your back-office billing and collections.