Around July 1, the first of our monthly trucking enewsletters will be available to anyone that is interested.  We’re excited to be able to bring together experts from many areas and all with trucking-focused experience to share their insight with you.  Please email me at mritzema@truckingpayroll.com or comment on this blog post with an email address and we’ll include you in the distribution list.

If you are someone that works with trucking companies and you have an article to contribute, please email me also and we’ll take a look at it.

If you’ve watched any local tv in Michigan, you’ve probably seen the commercials for tax amnesty in Michigan.  The commercials often have people making up reasons for not filing or paying like “it was cloudy so my solar powered caluculator wouldn’t work” and other excuses. 

Well did you know that this amnesty can help truckers too?  Not only can you use this to file and pay Michigan Income Taxes late without penalty but you can also file and pay things like your late IFTA forms!  Many people don’t think of IFTA as a state tax but it is listed in the taxes that amnesty can be used to waive the penalties.

You’ll need to file and pay by June 30, 2011 and you’ll need to complete some extra forms but the penalty savings should make it worth your time.  If you need any help, call your tax preparer of you can email me at mritzema@truckingpayroll.com.  Here’s a link to the details on the amnesty program.  http://www.michigan.gov/taxes/0,1607,7-238-57091—,00.html

In an article posted at fleetowner.com (http://fleetowner.com/management/news/ftr-truck-freight-downturn-0610/)  The analysts predict good rate growth for this year and the next two and a dip in 2014.  What do you think and what are you doing to prepare?

First let’s hope the predicted rate increases come true.  Following that, let’s hope that the higher rates are not eaten up by other costs like EOBR’s.  If there is still money left where will you invest it?  Please let me know by commenting here or emailing me at mritzema@truckingpayroll.com.

Is your trucking company as profitable as it should be?  Other carriers are doing quite well. http://fleetowner.com/management/news/first-quarter-earnings-tl-carriers-0426/

There’s never been a better time to be sure your company uses trucking company best practices in all phases of the operation.  There are plenty of resources available.  Email me if you need to be connected with the resources to boost your bottom line.

Mike

This past weekend, I had the good fortune to attend the Mid-American Truck Show in Louisville, KY. This was my first time coming to the show and I went there to reconnect with people I’ve talked to through the webinars we’ve offered and through conversations over the years.  In addition, I went down there to look at getting a booth for next year’s show.  Through all of this I learned a few things that I’d like to share.

1.  There are a lot of organizations dedicated to trucking and in a broad variety of product offerings.  I expected to see all the truck and trailer manufacturers, the big load boards, and some insurance carriers and I wasn’t disappointed.  There were also many different parts suppliers down to nuts and bolts, a dozen different people with ways to improve your fuel mileage, and people dedicated to making sure your business is properly organized.  By organized, I mean incorporated or LLC, not neat and tidy type of organized although there was probably someone doing that too.

2.  Technolgy continues to evolve the industry.  Advances continue to propel the trucking industry forward through many channels.  As I mentioned above, there are many companies working on many ways to improve your MPG.  Some use additives to your fuel, some offer aerodynamic advantages with equipment and of course the newer engines bring improvements over their older models.  But that’s just one form of technological improvement.  There are also better software options to find loads, track trucks, communicate with drivers, and generate invoices; many of these can be done from your phone.  With each year the technology gets more and more user friendly and more and more accepted by the consumers.

3.  You need more than one day to properly visit all the booths.  Anyone who has attended MATS already knew this but there are just too many people to talk to get them all in one day.  I reccommend at least 2 days.  Case the whole area on day one and go back on day two to have conversations with the people you want to talk to in more detail.  Also, wear good walking shoes as you’ll walk some miles going from booth to booth.

For those of you working on your IRS form 940 in Michigan, Indiana or South Carolina, don’t forget Schedule “A”.  That’s the credit reduction for states that owe the feds money for unemployment.  In Michigan it amounts to 0.6% of FUTA taxable wages and half that for Indiana and South Carolina.  A link to the Schedule is here.  Please let us know if you need any help with this.  You can call us at (866) 296-5911 or email me at mritzema@truckingpayroll.com.

Good luck!