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  1. Dynamite 1

    Tax Deductions

    They probably are not, Frank passed away a few weeks ago. RIP
  2. Dynamite 1

    Paying your drivers

    Why would you pay or make your drivers pay to get their pay. Makes no sense when there are options that cost nothing !!!!!!!!!!
  3. Dynamite 1

    Paying your drivers

    You dont have that with TAB !!!
  4. Dynamite 1

    Paying your drivers

    Not always, some banks charge to DD into an outside account or they hold the money till it clears, hence you make deposit on Friday, drivers dont get it till Monday. All depends on the bank !!!!!!
  5. Dynamite 1

    Paying your drivers

    Yes, but its not a huge deal and it works great and all free.
  6. Dynamite 1

    Paying your drivers

    Transportation Alliance Bank, use to be affiliated with Flying J but not anymore since they sold to Pilot. Driver simply get an account and they receive a debit card that they can use anywhere. You as the owner can transfer money into your TAB account and then transfer pay to your drivers. They...
  7. Dynamite 1

    Let's Truck Solutions

    We dont participate in any of the programs but we do listen to Lets Truck / Kevin Rutherford every night and incorporate alot of his information into our business model.
  8. Dynamite 1

    Paying taxes as a subcontractor?

    Go see some of the trucking companies in the town you live in and ask them who they use and if they are happy and have been with them for awhile. Best way to find a good tax person that knows trucking.
  9. Dynamite 1

    Tax question

    I agree also, should be corrected. In the long run with only showing what you made after the fuel was out will equate the same way on your taxes but i would wonder if he is trying to take the deduction. Which i have heard of some doing. Really though, everything you made plus your fsc should be...
  10. Dynamite 1

    Interest rate

    We pay 5% a year on the balance on our lines of credit. Borrow 30k pay 1500 in interest for a year. If balance is 15k At the start of the next year the interest is 750. They also prorate for early payoff.
  11. Dynamite 1

    Credit Score

    I use the Tina Evans method, good credit scores for 15 yrs. and counting !!!!!
  12. Dynamite 1

    Multiple Year Losses

    See, there you go. Different tax advice from different experiences in the business. Rule we were always told was you had to show a profit 1 out of every 5 years or it was considered a hobby. We do show some profit every year in the business and then there are those pesky personal taxes and...
  13. Dynamite 1

    LLC employye question

    What he is trying to tell you, I believe, is that llc's dont cross state lines. It will not protect you out of the state you operate out of. I could be wrong but that was the way we took it when it was explained to us. That's why we went with the "s" corporation.
  14. Dynamite 1

    LLC employye question

    Yes, as long as your llc does payroll and pays the taxes owed.
  15. Dynamite 1

    "Hobby" loss

    Just hold back some of your deductions to show a little profit. Simple as that.
  16. Dynamite 1

    Turbo Tax.

    Legit, you just admitted to manipulating numbers. If they are not exact and you are reporting manipulated numbers then you are not filing a correct return.
  17. Dynamite 1

    How is your business set-up? LLC? Inc.? DBA?

    pallud is rite whistler. an llc will not provide any protection away from the state it is filed in. only a a full corp will and that is also determined by the court you are taken to. here in illinois the courts tend to swing the way of letting a suing party bankrupt a corp. but not the personal...
  18. Dynamite 1

    How is your business set-up? LLC? Inc.? DBA?

    corporate filling fee here is 125.00, 1099 prep 110.00, lawyer 350.00 and no other fee's. tax prep corporate, personal, state and federal around 1500.00.
  19. Dynamite 1

    How is your business set-up? LLC? Inc.? DBA?

    have all the faith in the world in this firm along with several hundred other corps from this area. has it been tried in court, no. am i worried if it would, no. did i get the best as you say, yes. have others that use them been tested in court, yes, at least 4 that i know of and one of them...
  20. Dynamite 1

    How is your business set-up? LLC? Inc.? DBA?

    maybe where your from but not where im from. it does cost a little money but 5-10 k. somebody bent you over or seen you coming. we are with one of the best cpa firms in central illinois. they have their own corporate lawyers they use to set up and advise on all aspects of corporations and...
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