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Tax Topics For Expediters Got a Tax question? Need help with a bookkeeping problem? Frank Katz can help you! A tax preparation expert with many years experience plus an in-depth knowledge of the trucking industry, Frank will respond to your questions on this forum.

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Old 03-10-2004, 11:05 AM   #1 (permalink)
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Financial Software for Contracters

Hi Frank. This is my first time in this forum and I plan to read up on all the posts and answers.

I've been hired by an Owner/Operator company for the beginning of April. They pay by the mile and I'm responsible for the fuel and tolls. I'll get paid on a Comdata card.

I have Quicken Home and Business but could change to another program if it would help me to track my expenses, per diem and stuff.

Do you have any recommendations for software that will make my quarterly payments and year end reconcilliations easier? Am I supposed to hire you and you'll provide me with everything I need? LOL.

I'd appreciate some help on this.

Thanks.

Chet
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Old 03-10-2004, 11:05 AM   #2 (permalink)
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RE: Financial Software for Contracters

HI CHETJESTER,
INANSWER TO YOUR QUESTIONS;

I've been hired by an Owner/Operator company for the beginning of April. They pay by the mile and I'm responsible for the fuel and tolls. I'll get paid on a Comdata card.

MAY I ASK WHAT COMPANY YOU ARE GOING TO BE LEASED TO. ALL OF YOUR SETTLEMENT SHEETS WILL BE MAILED TO YOUR HOME ADDRESS. OR ANY ADDRESS YOU SPECIFY. REMEMBER IF YOUR OUT FOR ANY LENGTH OF TIME, THERE IS NO WAY THAT YOU CAN CHECK TO SEE IF THE SETTLEMENT IS CORRECT ACCORDING TO YOUR FIGURES AND MILEAGE THAT YOU ARE SUPPOSE TO BE PAID BY WHAT DISPATCH TELLS YOU, NORMALLY ANY INCONSISTANIES THAT YOU WOULD FIND WOULD HAVE TO BE SUBMITTED WITH IN 30 DAYS AFTER RECEIPT OF SETTLEMENT SHEET TO CORRECT. AND IF YOUR NOT HOME IN TIME YOU WOULD LOSE ANY CORRECTION YOU SHOULD OF REPORTED.

I have Quicken Home and Business but could change to another program if it would help me to track my expenses, per diem and stuff.

BASICALLY QUICKEN IS USED FOR YOUR CHECKING ACCOUNT, YOU CAN ENTER YOUR COMDATA AS DEPOSITS, AND USE THE EXPENSES AS CHECKS MADE OUT.

BUT, THERE IS NO REAL SOFTWARE THAT YOU CAN USE UNLESS YOU WANT TO SPEND $$$. MOST OF THEM ARE FOR COMPANIES AND NOT INDIVIDUALS. YOU CAN USE THE SOFTWARE THAT YOU MENTIONED ABOVE OR MAKE YOU OWN SPREADSHEET. THERE ARE SOME FORMS THAT YOU CAN USE IN MIRCOSOFT WORKS, UNDER SPREADSHEETS. REPAIRS, FUEL, MILEAGE, AND TRIP SHEETS. OR USE MS EXCEL AND MAKE SPREADSHEETS THERE.

IT WOULD ALSO DEPEND ON WHAT TYPE OF VEHICLE YOU WILL BE DRIVING, A "B" UNIT (VAN),MAKE SURE YOU JOT DOWN THE BEGINNG MILEAGE FOR THE VAN, A "D" STRAIGHT TRUCK, OR "E" TRACTOR/TRAILER YOU ARE SUPPOSE TO TAKE ACTUAL EXPENSES.


NORMALLY THE FIRST YEAR YOU SHOULD NOT HAVE TO MAKE ANY ESTIMATED PAYMENTS AT ALL. UNLESS YOU FEEL THAT YOU MIGHT OWE TAXES. THAT WOULD DEPEND ON WHAT YOU ARE DRAWING INCOME WISE.

Do you have any recommendations for software that will make my quarterly payments and year end reconcilliations easier? Am I supposed to hire you and you'll provide me with everything I need? LOL.

YOU DO NOT HAVE TO HIRE ME UNLESS YOU WANT TO FOR ME TO DO YOUR BOOKKEEPING, THAT IS UP TO YOU!!! I DO NOT FORCE ANYONE TO USE ME FOR THERE TAXES AND ACCOUNTING.

BUT, I AM ALWAY ACCEPTING NEW CLEINTS FOR THERE ACCOUNTING AND BOOKKEEPING NEEDS.

THIS WAY YOU WOULD HAVE YOUR SETTLEMENTS SENT TO ME FROM THE COMPANY AND YOUR WEEKLY EXPENSES YOU WOULD MAIL DIRECTLY TO ME, SO THAT THEY CAN BE MATCHED TO THE SETTLEMENTS.

IF YOU WOULD LIKE TO HIRE ME? PLEASE CALL ME AT THE NUMBER BELOW SO THAT WE CAN DISCUSS MY FEES FOR THIS SERVICE.


YOU CAN CONTACT ME AT (704) 739-4039 9AM TO 5 PM M-F
OR E-MAIL ME AT Fkatz1@aol.com

fRANK
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Old 03-17-2004, 01:06 PM   #3 (permalink)
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RE: Financial Software for Contracters

Wow. I thought this question had gotten lost. I looked for it for two days after I posted it, but it was never online. On a lark, I came back tonight, and, wow!!! There it was. I hope you don't think I was being rude. I even checked off that I wanted to subscribe to it for email notifications, but apparantly, that didn't work, either. Strange.

Anyway, not realizing you had "advised" me, I purchased software yesterday from TruckersSoftware. Their driver version. It seemed to have everything I was looking for. I'm hoping it turns out true.

According to the company I'm going to work for, I pay all fuel and tolls, he pays the rest. I'm an IC, but not required to use trip sheets for him. I guess I'll just track the appropriate deductable expenses along with the per diem.

Thanks again.

Chet
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