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Trucker Taxes Discuss taxes specifically related to truckers and the trucking industry here. Owner Operators have some hard decisions when it comes to tax time, but so do company truck drivers. Give us your hints here! STOP Uncle Sam from ravaging your wallet.

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Old 07.02.2009
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Service Clarification

DanH:

I'm confused a little about the service you are proposing to offer. Are you just scanning, organizing and posting receipts to the internet? Or, are you proposing to actually catagorize those receipts in some form of accounting tabulation for our tax preparers? Or, are you offering a one stop shop for all of it?
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  ^ Top   #12  
Old 4 Weeks Ago
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good idea

I am having a bit of trouble with understanding how by adding forgotten expenses these guys are actually figuring out they made a bigger profit, as adding expenses should only decrease your profit, but i will assume you are talking about profit saved by not giving more to the IRS.

However I like your idea and have brainstormed a business model like that for years.

Of course I have been too busy trying to truck. My wife and I went through some pretty bad times until I snapped and forced her to pay attention and learn quickbooks. You are 100% correct all of those hours add up in the end.

However if you have and understand quickbooks and accounting in general it does no take that much. As long as you stay on top of it.

I think a comprehensive program that includes set up and training would be a great value. If i had a dollar for every O/O who has no idea of what a chart of accounts is I would be a wealthy man. Once set up the seemless integration of expenses being entered into his QB program would be worth every penny.

However this needs to be done without your service having access to his bank accounts or payables invoices ect. They do have remote access programs that would allow you access to his desktop. I have tried that before and I am not sold on it.

The need for this though is huge. If every O/O out there actually knew what it costs to run a truck, and ran it like a business the rates would go up nearly overnight.

The trucking industry is hugely subsidized by morons that come in lose all thier money destroy thier credit and end up driving for someone else again.

As for the engineer a few posts up. Ask yourself why they are pushing the O/O route? Enough said.

Great idea though good luck. If i had known about a service like this about 10 years ago I might not be bald now. I am blaming my hair loss on stress.

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