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!!!

 

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?

 

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.

 

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?