Now I'm scared to death....please help!

Hey everyone!

This is my first post so I hope I am doing this correctly.

I was just reading the post about owning your own company and looks like I have already made several mistakes.

NightWind or anyone willing to help...

Let me give you little background....I quit my job selling real estate almost 2 years ago to stay home with my son. After a month or so I decided that I needed to find a job that I could do from home. A friend of a friend needed help dispatching his trucks. The trucks would load at the auction, deliver to the destination and I would find vehicles for them to bring home. This was great for a while until the trucks started to disappear and the insurance was cancelled. Long story short, I decided I wanted to continue and that my husband and I would open our own company. I received my authority in January. I have two trucks with 53' wedge trailers. I am transporting automobiles using an online dispatching company. I have insurance, BOC 3, etc. I have 2 CDL drivers that I pay a percentage of the load to. I have an OTR fuelcard account. I dispatch, coordinate maintenance and whatever else comes up. Am I in over my head?

The things that I think I have messed up on are.....I only chose 8 states on my IRP account. I have, on occasion, went into a state that was not on my account. What do I do now? Do I add the state?

Does the fuel card company keep any records for you other than how much to charged and paid back?

I desperately need more info on fuel taxes and IFTA. I keep up with mileage....sort of. Maybe I need help with this too.

I am also considering a semi with a 5-6 car hauler. That is if the mistakes made were not to serious. I believe my IRP account will change from 54,999 pounds to what I do not know. Also, is there another tax I have to pay for being over 54,999 pounds? Or anything I need to know before buying a semi that would differ from a dually?

As you can see, I could go on and on.

Let me say thanks in advance to the brave soul who takes on this challenge!!!

 

Do not take my replies as gospel. This is just my understanding of your situation with the information provided. I use a service that monitors, files, audits my records etc. so in the event I get audited by DOT or IRS etc. I am safe. I have 1 truck and I operate it so I do not have the time or luxury to stay 100% current with these issues as well as the laws etc. so this is why I chose to hire a service for my company requirements.

 

Thanks for the info. I will call and see about adding those states. Do you have any suggestions for an audit company? Or what I would "google" to find one?

 

you better hoe you don't get aught in those states you arn't licensed for. If you need to go into them you can buy a tmporary permit. If you do it mre often then it wuld be worth it to add them permenantly.

If you can keep your head above water then you aren't over your head

 

oh and if you fueled in the states you aren't registered in you are in trouble. Better call them and find out what you need to do because your fuel card tracks EVERYTHING

 

Who do I need to call? My state or the state I traveled in? And do I do this thru the Dept. of Revenue? This is where I received the IRP info.

 

REMEMBER THAT IF YOU HAVE CDL EMPLOYEES YOU MUST HAVE AND KEEP ALL REQUIRED RECORDS ALONG WITH A PROCESS FOR RANDOMS...YOU CAN DO YOUR OWN RANDOMS OR HIRE A SERVICE THAT WILL INCLUDE YOU IN THEIR POOL AND THEY WILL LET YOU KNOW WHEN A RANDOM IS REQUIRED FOR A DRIVER.
I RECOMMEND YOU JOIN YOUR LOCAL TRUCKING ASSOCIATION. THEY WILL ASSIST YOU IN GAINING THE KNOWLEDGE YOU NEED REGARDING THE DAILY OPERATIONS OF YOUR COMPANY

 

and you need the drivers complete work history for ten years and you HAVE to varify it for three years.

you call the states you ran in.

 

I am feeling more foolish by the second. I should have known better. Looks like I need an audit company, an accountant and a trucking association. Can anyone recommend any of these services. I am in Georgia, west of Atlanta. I now on top of all of this.....I have barely been making a profit. Any idea what these services are gonna run?

 

MedicineMan, I call the Dept of Revenue for that state?