Any L/O, O/O use ATBS?

Waste of time, waste of money.

 

Do it your self ... takes me about 4 hours to pull together all my receipts for the year and an hour more to fill in the tax forms ... 5 hours of work.

ATBS will charge what? $15 a week, times 52 weeks = $780 ... Not bad for 5 hours of work. And what exactly is ATBS doing for you. Once a month you have to gather up all your receipts and mail them off to ATBS - after you 've logged them in your own bookkeeping system so you can verify your numbers - numbers you need to be keeping if you are going to be properly managing your business - against their numbers.

Oh, ATBS will give you a monthly report on your business, say about 3 weeks after the end of the month. The point that leading edge of those numbers are now 7 weeks old ... again the tighter you run your numbers, the better your chances of success . You need to be tracking your numbers daily, doing analysis weekly and trending week to week. See, by the time ATBS gives you your report it is useless and gives you no value.

And quarterly taxes. ATBS gives you give nice letter to send to the IRS, along with sending a check for 25% of the net from your weekly settlement. If you want to send a check to the IRS for 25% of your earnings, you don't need ATBS to tell you that. Besides your total tax bill for the year, for your business, should well south of 10%. A level that if you only pay once a year when you file, the penalty -if there is a penalty - might be $20 or $30.

So in summary, waste of time, waste of money.

 

do yourself a favour DC CAB, take the time to read this free ebook on the whole L/p O/o game. There is a chapter that shows how to do your own dirt simple bookkeeping that has been deemed 'Very Good Advice' by several CPA's for truckers. The rest of the book is great too, especially if your planning on L/p'ing a truck. It teaches you how to squeeze every dime out of your truck, and everyone I have ever met that actually follows it closely, doing what it recommends, is successful.

this is not an advertizment, its a free book for newer drivers wanting to become Owner-Ops, written by driver, and not some radio show host trying to market his ideas.

http://mastergeeks.opendrive.com/fi...ime Class-8 Lease-Purchase Owner-Op Guide.pdf

 

Rawze, you a great!

 

Bad an-us! Luv this forum!

 

Personally, I use a CPA. Have been for about 7 years now. She charges me $200/year and never has me file quarterly. Says, why give IRS the money. I use her because her husband is a small fleet owner, so I know that she keeps up with all of the changes.

 

How about an updated link on that ebook there Rawze? I wouldnt mind having that to read through.