So, You Had an Accident. What to Do (And Not Do) In the Aftermath
Getting into accidents is something that's going to happen to many, many drivers at some point or another. It's an unfortunate fact, but it's something that every driver and carrier has to live with at this point. There are two central responsibilities that come out of this. The first of these is that drivers and carriers should take as many measures as they can to avoid as many preventable elements of crashes as they can. The second of these is to make sure to do (or not do) the following in the event a crash happens.
The Good, the Bad, and the Ugly: February 2010 Expediting Industry Numbers
Sylectus (formerly known as GPSNet Technologies) recently released their analytics and comparative figures for February 2010, and it appears that the industry is continuing the rise that began in June 2009.
A Primer on the Employee Free Choice Act
The Employee Free Choice Act (EFCA) is a bill that's been bouncing around the US Congress for the last few years. The chances are pretty good that you've heard something about it--but given that it's still on the block, and doesn't look to be exiting terribly soon, it's probably worth something of a summary.
When Your Carrier Goes Under, You Don't Have To...
Whether you're an Owner/Operator or a direct employee, it's never good to see your carrier go under. Granted, it's rarely as bad a situation as what we've seen happen lately with Arrow Trucking, and many situations were made worse for Arrow truckers because they were direct employees. Too, it seems to continue to be getting worse for Arrow, specifically in that reports are beginning to surface that medical and other financial claims are apparently being allowed to sit unpaid.
The Recession is Real. Now That We Know That, What's Next?
So, here's the question: what recourse, if any, do you have when your carrier goes under, and what should you do?
2009 was a pretty bad year for most folks in the Expedite industry; a cursory glance at the EO forums will tell you this. Carriers went out of business, Owner/Operators and drivers left the business, miles and rates were down. All told, it seems like most folks were driving in circles, so to speak.
Get a Jump on your Taxes
Follow the checklist:
Make sure you have all the records you need, including W-2’s and 1099’s.
Compare amounts on 1099’s and W-2’s wi...
HAVEN’T FILED A TAX RETURN IN YEARS?
We receive numerous calls from taxpayers who have not filed their income taxes for a year up to 10 yea...
TAX TIP: tax credits and expenses
Question: My family is expanding and home prices and mortgage interest rates are low. The special $8000 tax credit for buying a home is due to expire December 1, 2009. Is this a good time to buy?
TAX TIP: make IRA and pension-plan contributions now
Answer: We ARE NOT about to recommend to anyone to buy a house...
It is a good idea to make IRA and pension-plan contributions now. Don’t delay making contributions for the year. Deposit the full amounts now, AND START EARNING TAX-DEFERRED INCOME SOONER.
Projections, IRS Audits, and Independent Contractors
For 2009, you can contribute $5,000 to a deductible or Roth IRA ($6,000 if you are age 50 or older by year-end). These amounts might be increased by the end of the year.
A tax projection is a mini tax return using actual results from current operations annualized to reflect what a full year result would be. When doing a tax projection, your tax professional uses that profit, annualizes it and uses the expected profit for the year with current tax information such as equipment changes to calculate and project your tax liability for the year.