Monday, 21 January 2019

This Years' Tax Deadline for Your 1099 Form is Here!

This Years' Tax Deadline for Your 1099 Form is Here!The deadline for your trucking tax forms is almost here! As the owner of a trucking business, you have to make sure your 1099-MISC Forms are filed by January 31st! The differences between the IRS W-2 and 1099 tax form can be confusing to some business owners, but it is important to know.

Employers must report their employee wages and other compensation on IRS Form W-2. If you use freelance drivers or other contracted workers in your trucking fleet, you have to report these payments using IRS Form 1099-MISC.

Knowing the difference between these forms and filing them on time is very important for you and anyone you pay during the tax season. The smallest mistake could result in extra hassle and even fines for you and your employees.

Form 1099-MISC - Is This the Form You Need?

IRS 1099-MISC is a tax return form for reporting payments made to miscellaneous workers during the tax season. You'll need to file this form for everyone you’ve paid who isn't an actual employee of your company. This includes any independent contractor or subcontractor that they may have hired on your behalf.

Below is a list of services, incomes, and expenses for which you will need to file an IRS Form 1099-MISC. If you’ve paid any of these during the tax season, you must file a separate 1099-MISC form for each.
  • Paid $600 or more in services, lodging, and other expenses? File the 1099-MISC. 
  • Withheld federal income tax from under the backup withholding rules? File a 1099-MISC for each worker. 
  • Paid $10 or more in royalties or broker payments instead of tax-exempt interest dividends? File a 1099-MISC. 
  • Paid for an attorney or other legal consultants? That’s a 1099-MISC. 
  • Sold any consumer products resulting in an income of $5,000 or more anywhere that wasn’t a permanent retail establishment? You guessed it - you’’ have to file a 1099-MISC for that too. 

There ARE some expenses that you DO NOT need to report on your Form 1099-MISC this tax season, including:

  • Any non-reportable payments made to corporations, excluding legal consultants such as attorneys. You must provide any paid legal professionals with a Form 1099-MISC regardless of their current corporate status. 
  • Income paid to tax-exempt organizations in the U.S, the District of Columbia, U.S. possessions, or foreign governments. 
  • Any payments made to official employees of your company - they'll need that W-2. 

Form W-2 - Why You Need It

This Years' Tax Deadline for Your 1099 Form is Here!Here’s an in-depth look at the IRS Form W-2 and what’s required of you as the employer.

IRS Form W-2 is a tax reporting statement that you issue to each of your official employees every year. It is necessary for reporting salaries and other fees paid to employees the tax season. Both the IRS and SSA (Social Security Administration) need copies of the W-2 for every official member of your trucking fleet. These forms are as important for you as they are for your employees and their own tax filings. Your drivers each need the IRS W-2 Form to report income and taxes withheld to complete their own tax returns.

Filing your 1099 MISC or W-2 Form 2018 late or incorrectly could cost you and your employees time and money. Missing the W-2 deadline results in a $30 fine for each form unfiled, rising to $60 per form with a top fine of $500 after 30 days! Definitely, something you’ll want to avoid.

Make a mistake? Not a problem! Luckily you can use an IRS Form W-2c to make any necessary corrections.

But hurry - You have to file this form as soon as you discover the error. And don't forget that you also need to send copies of the corrected W-2 Forms to each employee for their own taxes after.

File Your Taxes Today!

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Friday, 18 January 2019

It's That Time of Year, Get Help With Your 1099 Online!

 It's That Time of Year, Get Help With Your 1099 Online!
2018 is over but tax season is already upon us.

Every trucking business owner knows that keeping up with your fleet is hard enough. Tax season makes it a lot harder. No one wants to manage their fleet while trying to crawl out from government paperwork. Handling tax season on your own could cost you valuable time that you could spend growing your business.

Now there’s a way to drive your fleet out from under that mountain of paperwork (and no, we don’t mean burning it all … or running it over). TaxBandits makes managing your trucking business’ records easier than ever!

Phantom File 1099 

What’s scarier than a truck pulling up behind you from beyond the grave? Not much; but the very real 1099-MISC Form can be pretty damn scary to say the least. Luckily, it’s not that terrifying if you maintain your business records.

Your Information:
  • Business Name
  • Business Address
  • EIN (Employer Identification Number)
Independent Contractor Information:
  • EIN
  • Or Social Security Number
  • Address
That can be a lot to keep track of! For all non-employees paid $600 or more, you’ll also need:

Total misc. income provided to the recipient (with the federal tax amount withheld)
  • State income
  • Payer state number
  • State tax withheld

You will also have to issue copies to your contractors by January 31st for their own tax records.

Think the IRS won’t notice a mistake? Believe us, they will creep up on you like a certain infamous truck – and you don’t want to get fined over misinformation or a simple miscalculation.

941s and the Trucking Industry

The IRS Form 941, or Employer’s Quarterly Tax Return, is for reporting your employment taxes. If you operate a business with any amount of employees, you will need to file IRS Form 941 quarterly. As the business owner, you are responsible for withholding federal income tax, social security tax, and Medicare tax from each employee’s salary.

TaxBandits makes the form filing process quick and painless!

Take Back Your Time With TaxBandits

Plain and simple, the IRS wants your time and money. Why pay them more than what’s necessary? With TaxBandits, you won’t have to. Staying ahead of the competition isn’t solely about sales numbers. It’s about managing the small things, including taxes. If you want to stay ahead of the competition this year, don’t endanger your business by waiting until the last minute. Take your time back this tax season and contact Tax Bandits for all your tax needs today!

If you’re ready to file your trucking business’ tax forms, TaxBandits is only a click away! We can also help you with your fourth quarter IFTA return!

File My 1099/W-2 Forms Today!

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Thursday, 10 January 2019

Top 5 Apps Truckers Need For Safe Parking While On The Road

Finding safe parking has become more and more difficult for truckers worldwide.

Luckily, several major truck stop chains have created a parking app with “parking near me” features that allow drivers to conveniently find parking in safe locations at any time.

Safe Parking While On The Road

Take a quick break and check out these top 5 apps truckers need for safe parking while on the road.

DAT Trucker App

DAT Trucker features both its load board functionality along with special features for parking information based on your current location.

Easily find upcoming truck stops and the number of available parking spaces right at your fingertips with the DAT Trucker App.

Park My Truck

The National Association of Truck Stop’s “Park My Truck” initiative allows truckers to view nearby parking locations within a 50 to 250-mile radius.

The parking app will also show you the number of spaces available and is updated by the truck stop operators or parking location.

Road Breakers

Have you ever needed to find parking but had no cell service in the area you’ve stopped in? Well, worry no more. The Road Breakers app will store parking data to your phone where service is available so you can locate safe parking in areas with no cell service.


This app lets you put in your destination of the day and provides you with an outlook of what to expect in the area that you are traveling to. This information is catered specifically to drivers by other drivers that also use the app.

Other information including parking, fuel locations, and weight station details are included also.

Trucker Path

The Trucker Path app using crowdsourcing to provide its users with the information they need, meaning that all info is provided by drivers that use the Trucker Path app.

After selecting a location, truckers will see updates on parking availability categorized as “lot is full,” “some spots,” and “lots of spots.”

Try TruckLogics Now

Sign up for your free 15-day trial and see the difference TruckLogics can make in your trucking business. Our program can help you save time and simplify running your entire operation, especially when it comes to independent contractors.

Start My Free Trial 

No Credit Card Required & Zero Obligation
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Thursday, 20 December 2018

Gift Ideas For The Trucker In Your Life

Gift Ideas For The Trucker In Your Life
The driver in your life deserves a relaxing break to celebrate any special occasion with their friends and family, so get them something great. Check out our list of the perfect trucking gifts for both the male and lady truckers.

The Best Trucking Gifts

1. Hands-Free Devices

We know you want to check up on the trucker in your life while they are on the road, but holding phones and other devices can be….. slightly dangerous. Consider getting them a wireless headset so they can talk to you hands-free. You could also get them a dash mount for their phone, and wireless headphones. This is especially important for the states that no longer allow devices to be on your person while driving.

2. Warm Gear

Winter is here, and many states have experienced snow. Your trucker will be up early in the morning and late at night doing pre-trip inspections in the cold. Make sure they can stay warm with utility gloves, a nice hat or coat, and a sturdy pair of work boots.

Also, it’s cold OTR. Make sure they stay warm in the cab once they park with a space heater or electric blanket. We suggest getting a throw-size blanket so it won't take up half the rig.

3. Coffee or Hot Chocolate

Trucking is exhausting, and your driver needs coffee to get their engines revved up and moving. Help them out by giving them the gift of instant coffee in their rig with a portable coffee maker. Also, get them a heavy duty thermos like a YETI. But no matter the brand, just keep in mind it should keep their drink warm for hours. You can even personalize the mug by adding a picture of the two of you or their family or their favorite sports team.

4. Trucking T-Shirts

Truckers like to ride in comfort and style, that means they don’t need just any t-shirt, but cool ones to flaunt at the truck stop. You can get trucking shirts with funny sayings like, “I just dropped a load.” You can also get them shirts from their favorite trucking shows like Ice Road Truckers, or sick truck shops like Jack’s Chrome Shop.

5. Gift Cards or Cash

You can give the trucker in your life the ability to pamper themselves by allowing them to shop for themselves. With a gift card or cash, they can buy exactly want they need or want. We know truckers are always wanting the latest tools or something cool from Wal-Mart.

6. Don’t Forget Their Pets

Gift Ideas For The Trucker In Your LifeMany drivers take furry pals along on the road, and they are more than best friends forever. They’re partners in trucking adventures. If your trucker has a dog, cat, bird or more, include them. Get them a new bone, catnip toy, sweater, bed, blanket, etc. Items that keep the pet entertained are best. The possibilities are endless, and your trucker will enjoy seeing their little buddy included in the festivities.

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Tuesday, 4 December 2018

The App You Need To Boost Truck Driver Retention

The App You Need To Boost Truck Driver Retention
As a member of the trucking industry, we know that one of your major concerns is driver retention. Truck driver retention, and the lack thereof, is plaguing the industry. We know you want to grow your business, and keeping your drivers is a large part of that. So what can you do to improve driver retention and become the best trucking company to lease onto?
Get the App Designed To Boost Truck Driver Retention

At Trucklogics, we understand the need to keep growing while keeping costs down, which is why we built the #1 driver retention app specifically with the needs of your drivers in mind.

Many truck drivers list poor flow of information as a reason why they were dissatisfied enough to quit. TruckLogics eliminates miscommunications––if you and your leased owner-operator both subscribe to our cloud-based software and app, you can both streamline your record keeping like never before.

Power In the Palm of Your Leased Operator

Your leased operators can track their income, run monthly and yearly Profit & Loss reports, and keep accurate, detailed compliance records relating to their maintenance and trip information. But, most importantly, it enables your driver to reconcile settlement statements.

TruckLogics aims to boost truck driver retention by offering your leased operators:

  • Unlimited Income and Expense Entry
  • Fuel Purchase Tracking
  • Monthly Profit & Loss Reporting
  • Maintenance Recording and Automatic Reminders
  • Year-End Tax Reports
  • Address Book
  • Tax Compliance Reminders

How This Retention Tool Works for You

Just like we assisted Mercer, you too can be one step closer to being the best trucking company to lease onto. Reports and settlement integration will become a breeze when you subscribe to one of our fleet owner packages. Minimize miscommunications and record keeping discrepancies by enrolling in TruckLogics and receiving features that enable you to:
  • Manage Dispatches
  • Have Unlimited Multi-User Access
  • Schedule Maintenance
  • Generate and Send Invoices
  • Access Chart of Accounts
  • Address Book Capabilities
  • Create Profit & Loss Reports 
  • Unlimited Mobile Access

Combined with your leased driver’s TruckLogics, app, these features become the ultimate retention tool.

Become the Best Trucking Company to Lease Onto

The App You Need To Boost Truck Driver RetentionPoor truck driver retention can be a thing of the past with the settlement integration and tracking offered by TruckLogics, but it is important to remember that miscommunication is often only part of the reason truck drivers decide to leave.

Other factors that often influence driver departure are low levels of trust and recognition. While TruckLogics’ retention tool can go a long way towards verifying trip data, it is still up to you to build that baseline of trust with your leased drivers. And every so often, don’t forget to tell your drivers they’re doing a good job.

Boost Retention Now

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Thursday, 8 November 2018

How to Choose The Right Load Board For You?

How to Choose The Right Load Board For You?
As an owner-operator, finding the best loads to haul is an essential part of running a successful business. Your success is based on running as many loaded miles as possible to maximize your profits. A great way to find profitable loads is through load boards.

However, with so many options on the market today the trick is finding the one that meets your needs so you can start saving time and money.

What To Look For in a Load Board?

1. Free Trial Offers

Before settling down on one load board, look for one that offers a free trial so you can take it for a test drive to see if it fits your needs. Be wary of load boards that fail to offer free trials, as this could waste your time and money.

2. User-Friendly

Other than the price this is probably the most important aspect to consider. Is the program easy to use and navigate? Look for a solution that won’t waste your time searching for loads, posting your vehicles, or using other valuable features.

3. Cost-Effective

Find a load board that fits within your budget! A good load board will pay for itself after just a few loads. Don’t be afraid of comparison shopping.

You will find lots of load boards with a variety of features and varying prices from free to $100+ per/month. Be warned that a free load board will not have the security, quality loads, or advanced features that a membership load board has to offer.

4. Mobile App

As a driver, you’re always on the run, so you need a load board that provides the same level of access and ease of use on your phone or tablet as you would expect from your computer.

How to Choose The Right Load Board For You?

5. Notifications

You will want a load board that sends 24/7 alerts and notifications to your phone or email. This way you never miss out on another opportunity.

6. Number of Loads

When you are looking for the right load for your vehicle in a preferred area you need a lot of loads to choose from. Make sure you are using a load board that provides both volume and variety.

7. Constant Updates

A load board isn't much good if it isn’t updated regularly. Loads come and go quickly, so check how frequently the board is updated before settling on one. Look for loads with real-time updates and results. 

Our Pick For #1 Load Board: DAT

Save time hunting down loads with freight matching services such as DAT’s TruckersEdge and Power Load Board. DAT has been the trucking industry’s most trusted spot marketplace since 1978. They are the biggest and best load board available! See where the most loads are and what they pay.

Check Out The DAT Load Board

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Tuesday, 2 October 2018

Essential Safety Tips For Winter Trucking

Essential Safety Tips For Winter Trucking
A white tractor-trailer driving on the interstate in the snow.
Let me be the first one to say that winter is closer than it appears. Even though it is only the first week of October, now is the time to get yourself and your vehicle up to speed for the upcoming season. Here is everything you need to know about driving in the snow. Be sure to share this blog with your fellow drivers to make sure you are all on the same speed!

Driving a tractor-trailer comes, of course, with its own set of risks and rewards, but severe winter conditions demand a particular set of skills and preparation. Too often consequences befall drivers will fail to alter their driving habits when the seasons change. Staying aware is essential to safety while in poor weather conditions.

Winter Trucking Safety Tips

Winter is coming!! And yes, you will need more than chains to get you though. 

#1 Slow Down

Most winter accidents are caused by driving too fast under the conditions. While the speed limit might be set at 75, it doesn’t mean you should be encouraging going that fast on snow-covered roads. Please slow down and take the time you need to get to your destination safe and sound.

#2 Follow At A Safe Distance

Leave plenty of room between your rig and those around you. While you might be a safe driver, it is easy to get swept into a collision because of the guy next to or beside you. Take it easy and be careful changing lanes to pass vehicles.

#3 Stay Off The Shoulder

While you might think this is a safe location, it can be hazardous especially in low visibility situations. In blinding snow, another truck might mistake you for being on the road and slam on their breaks. This would likely cause them to slide or slam into the back of your trailer.

#4 Lay Off The Jake Brake

Essential Safety Tips For Winter Trucking
Logging truck driving through a snowstorm on the interstate
While some driver might prefer to use their jake brake in various weather conditions, we don’t recommend this on icy roads. Avoid engaging the foot brake as much as possible unless your truck and trailer are straight on the road. If you brake while the truck isn’t straight, your trailer could slide and spin out your unit. Your vehicle will slow down while your trailer will not.

#5 Use Your Better Judgement

If you feel the situation is a danger to you or other drivers, get off the road until the weather has passed. Find a safe place off the road and get there safely. We know that is what your family would want you to do in a dangerous situation. Your job is not worth your life.

If your rig ends up in a ditch somewhere, you will find yourself quite alone. Sorry to say there will be very few people who will step up and say they had insisted on the delivery time.

Be safe out there!

Let us know your thoughts and share your experience in the comment section below! Follow us on social media to get the latest news, information, and trucking tips!

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