Tuesday, 17 April 2018

It's Tax Day 2018! How To Apply For a Tax Extension?

Today is the last day to file tax return 2018! If you need the additional time, it is not too late… yet! Learn how to get a tax extension before having to face hefty IRS penalties and interest.

Tax Day 2018! How to Get a Tax Extension?

Despite your reasons for needing additional time, the IRS will automatically grant you a six-month extension of time to file your federal tax return. Also, the application process is quick, easy, and you will likely receive approval within the hour.

Why Should You File Tax Extension 2018?

If you owe taxes to the IRS and do not file your tax return or file an extension by midnight tonight, you will face IRS penalties and interest. The penalty amount will be based on the total tax amount you owe to the IRS.

However, penalties and interest typically do not apply when you are expecting a tax refund and fail to file a tax return.

Federal Income Tax Return Penalties

The penalties for failing to file a tax return or tax extension is much higher than failing to pay taxes owed to the IRS. If you fail to pay at least 90% of the owed tax amount you will be charged a late payment penalty of .5% per month.

If you fail to file your tax return or tax extension you will be charged a whopping 5% of your tax amount per month your return is late. This amount will be capped at 25% after five months of incompliance. The minimum penalty amount for filing your return late is the smaller of $100 or 100% of your owed tax amount.

How to Apply For a Tax Extension?

IRS Form 4868 is the 1040 extension formally titled the Application for Automatic Extension of Time to File U.S. Individual Income Tax Return. If you need to file tax extension Form 4868, you will need to e-file by midnight tonight. If you file by the tax extension deadline, you will receive an additional six months to file your tax return without incurring IRS penalties.

You can file tax extension 2018 quickly and easily with our sister product ExpressExtension. Their step-by-step interview-style process is equipped with built-in audits to ensure error-free filing.

Hurry before it is too late!! You have until midnight to avoid penalties! Luckily it only takes a few minutes to file your tax extension with ExpressExtension.com; create a free account now, click here.

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Friday, 13 April 2018

How Smart Truckers Outsmart The Tax Day Deadline

April is here Trucking Nation! That means a few things for us in the transportation industry. Both your personal income return and IFTA fuel taxes are both due this month. Are you prepared for these tax deadlines?

Are You Prepared For These Tax Extension Deadlines?

Typically, Tax Day is April 15th, but this year it falls on Sunday and Monday is Emancipation Day, a legal holiday in Washington, D.C. The official Tax Day Deadline is April 17th, 2018.

Need More Time To File?

The IRS is far more forgiving about doling out additional time than you might expect when it comes to the 2018 personal tax deadline. Filing an income tax extension is easier than you might think, especially if you e-file a tax extension online. You can file tax extension Form 4868 for an automatic six-month extension to submit your federal income tax return without penalties.

If you submit your application to the IRS by midnight on April 17, 2018, you will receive an additional six months to file your tax return without incurring IRS penalties.

However, while Form 4868 does give you an extension of time to file income returns, it does not extend the time to pay. If you are unable to make your tax payment, you will need to pay penalties and interest, It is recommended that you pay as much of the owed taxes as possible to lower your penalty cost.

What You Need to File a Federal Income Tax Extension

Assuming you file on time, you will automatically receive six months to file your return to the IRS, and you will not be subject to late-filing penalties. You will have until October 15th, 2018 to file your tax return.

To file for a tax return extension, you will need:

  • Your name and address
    • Spouse’s name if filing jointly)
  • Your Social Security Number (SSN
    • Spouse’s SSN if filing jointly
  • Estimated total tax liability for the 2017 tax year
  • Totally 2017 tax withholding and tax payments
  • Estimated tax payment owed to the IRS (If any)

How Do I Apply For An Income Tax Extension?

You can e-file Form 4868 with our sister product ExpressExtension. They will transmit your forms directly to the IRS so you can rest easy knowing you have an additional six months to file your federal income taxes. File today and receive an automatic six-month extension of time to file your personal tax return.

Once you have filed Form 4868 with the IRS, you will get a confirmation email within 48 hours notifying you that your extension was accepted by the IRS.

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Friday, 6 April 2018

3 Best Electronic Logging Devices (ELDs) You Need To Know About

Trucker uses a Electronic Logging Device (ELD)

It is official, April 1st, 2018 marked the hard enforcement date for the FMCSA’s ELD mandate. So this means you need to be prepared for your next inspection. If you are found without an Electronic Logging Device, you will be cited and most likely ticketed if you cannot prove exemption. To keep you on the road we have put together a list of the three best Electronic Logging Devices (ELDs) you need to know about.

3 Best Electronic Logging Devices (ELDs) You Need To Know About

Since the enactment of the Electronic Logging Devices Mandate (ELDs) back in December, there has been growing concern among the trucking community. This list will give you a better understanding of the options available to owner-operators and self-employed drivers alike.

1. EROAD: Ehubo

EROAD’s Electronic Logging Device (ELD) Ehubo is among the highest-quality devices offered on the market to date. The equipment is durable, and the software is simple for drivers who are unfamiliar with operating ELDs. Quick to install, software is easy to use, and the data capture is accurate. EROAD’s dependable, reliable, and user-friendly ELD Ehubo is tough to beat.

2. BigRoad: Dashlink

BigRoad is an affordable, simple, and user-friendly option for those who are looking for a product without all the bells and whistles. BigRoad’s easy-to-use log compliance software links their ELD device with your smartphone so you can see accurate, up-to-date information. No complicated hardware installation and their mobile application's primary goal is to provide simplicity with functionality.

3. Gorilla Safety

Gorilla Safety is a unique management system that offers features surpassing the basic Electronic Logging Devices we have seen previously. Their software not only ensures ELD mandate compliance but their features include safety and management tools. If you have used an electronic log before the ELD itself will feel reasonably straightforward, but they shine when it comes to their tracking ability of FMCSA and maintenance.

Trucker using an Electronic Logging device because of the ELD mandate

Stay Compliant Under The ELD Mandate

As a driver, you should already be aware that the deadline for complying the ELD mandate was April 1st. If you are without an Electronic Logging Device, you will be put out of service for 10 hours and then allowed to complete your run. However, you are required to install an ELD immediately before your next route. If you are later found without an ELD, you will receive an out-of-service violation under the ELD mandate.

We want to hear from you! Let us know your thought on the ELD Mandate and our ELD product selections.

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Tuesday, 27 March 2018

4 Ways Technology at MATS Can Better Driver Retention

The Mid-America Trucking Show, better known as “MATS,” is the largest annual heavy-duty trucking event in the world. MATS attracted thousands of attendees and focused its efforts on driver retention and technology this year.

Incorporating vital trucking information, live entertainment, and intriguing truck displays, this year’s show was one for the books and one that we’re glad we didn’t miss! We made the drive from our office here in Rock Hill, SC up to Louisville, Kentucky, for the 47th Annual MATS.

Being that we know a few things about technology, we wanted to share the 4 ways the technology at MATS can better driver retention for the trucking industry this year. (And no, we’re not affiliated with any of these tools, but we’re always open to making new friends!)

4 Ways Technology at MATS Can Better Driver Retention For The Trucking Industry

To retain drivers, technology must constantly evolve in order to serve the industry better. These advances should better your driver retention.

New Trucker GPS by TomTom

TomTom, the global leader in navigation, traffic and map products, recently launched the new TomTom Trucker, specifically developed for use by truckers. This was an interesting technology find for us.

TomTom boasts that it is perfect for truckers of any size fleet; the TomTom Trucker guides drivers to selected points of interest such as fuel stops and travel centers and is compatible with Google Now as well as Siri voice recognition software.

To make the deal even sweeter, drivers will also be alerted of traffic issues on highways and secondary roads, including notifications of stopped traffic, accidents, and locations of where the most common accidents occur. For more info, click here.

New Bluetooth Headset by Plantronics

At MATS, we saw the new Plantronics trucker-oriented headset was unveiled last week. Voyager 104 is an over-the-head headset that has awesome features such as 24-hour talk time, noise-canceling technology boom mic, and a wind sock for drivers to use during windy weather conditions.

With a Bluetooth range of 60 feet plus a memory foam earcup and headband, this headset should be pretty great!

Have you tested this one? What’s your favorite headset?

Newly Updated Trucking App by Love’s

While we love all of the truck stops equally, we really like that this update helps out drivers with keeping up with fuel expenses.

Love’s has recently updated its trucking app to include several new perks. The Love’s Connect mobile app has a new design and features that you are sure to enjoy. Love’s Connect app enhancements include:

-Starting diesel pumps and paying for fuel from your cab   [professional drivers only]
-View and share transaction and loyalty receipts
-Better management of stops
-Improved roadside assistance screen linked to nearby Love’s Truck   Tire Care, and more

DAT Load Board App

When we ran into Chad Boblett at the show, he was presenting for DAT

Chad is the owner and driver of Boblett Brothers Trucking, and founder of Rate Per Mile Masters Facebook group.

At the DATs booth, he was dispelling trucking myths. 

Chad’s passion is for using technology to get drivers their own authority and connect with brokers so they can go into business for themselves!

48th Annual MATS

We are anxiously awaiting the 48th Annual MATS and look forward to the new changes in the trucking industry. Did you go to MATS? Tell us about your favorite things in the comments below.
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Friday, 23 March 2018

What You Need to Know About 2018 GSA Per Diem Rates

Owner-operator running an overnight job and is eligible for gsa per diem rates
President Trump’s Tax Cuts and Jobs Act enacted back in December 2017 has eliminated the per diem allowance for most industries not only the trucking world. Here is what you need to know about 2018 GSA per diem rates.

What You Need to Know About 2018 GSA Per Diem Rates

While the tax reform bill eliminated the per diem allowance, it did leave a special provision in place for individuals subject to Hours of Service (HOS) regulations. Business owners and owner-operators are allowed to deduct 80 percent of the per diem rate from annual taxes.

However, employee drivers cannot use the per diem per sec 1312 of the 2018 tax code. All business deductions associated with employees have been eliminated from Sch 2106 on Sch of 1040.

The new allowance only enables owner-operators, or self-employed drivers, to receive a standard amount per day to cover meal expenses. Per diem is a reimbursement that allows those eligible to deduct up to 80 percent via sec 1312 of the Tax Cuts and Jobs Act.

2018 GSA Per Diem Rates

Work Eligibility
Per Diem Rate
USD Deduction
Full Day
$63 ($68 Outside of US)
Partial Day
$47.25 ($51 Outside of US)

GSA Per Diem Overnight Rule

Trucker in his rig running an overnight job and is eligible for gsa per diem ratesThe law required that you are reimbursed for expenses on your next paycheck by the employer. The reimbursement is non-taxable.

You must record and track expenses! You will not be able to deduct any business-related expenses on future tax returns. It is advisable to keep a record of the following expenses: repairs, tools, motels, etc. to verify they are reimbursed.

Owner-operators must meet Internal Revenue Service (IRS) qualification to claim a per diem tax break. To claim per diem, you must travel far enough that you cannot return in a single day. However, if you are not necessarily required to be away from home the full 24 hours. For instance, a driver on a 10 duty cannot complete a 16-hour trip without a rest stop. The HOS regulations only allow 14-hours on duty without a full 8 hours of sleep.

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Thursday, 15 February 2018

Four Trucking Expense Hacks to Improve Profit Per Mile

TruckLogics shares way to reduce trucking expenses

Wow, trucking expenses can really add up. As an owner-operator or fleet manager, there seems to always be someone to pay, another fee, bills, and more! This is really tough in the beginning when you’re busting your butt trucking just to break even.

However, if you develop a good business plan and create a trucking budget you’ll quickly discover ways to cut costs and increase your revenue per mile. Check out a few ways to save and improve your trucking bottom line.

Four Trucking Expense Hacks To Improve Profit Per Mile 

1. Improve Employee Management

As a fleet manager, you’re a leader. How you act will influence your employees. You’ll profit if they do a better trucking job. Be sure to use positive reinforcement and to make time to listen to your employees. Learn their names and a little about them, so they won’t feel replaceable. The cost of finding new employees is much higher than retaining them.

Also, you can grow your employees to move up in your operation. For example, provide them with educational materials and give them a shot at working in other areas. For example, if a trucker gets tired of driving see if they want to be a trainer or dispatcher, don’t limit their potential.

Be sure to promote safety practices and lead a lot of safety exercises. If your drivers are safer the number of accidents your trucks are involved in will become reduced. With safer drivers, you’ll have better insurance rates and can avoid the costs of repairing or purchasing new trucks.

2. See if Some Projects can be Outsourced

Every time you need to build a website, increase your SEO, recruit drivers, handle human resources, and more, you don’t have to bring in a new professional. You can simply pay a freelancer, independent contractor, or company to handle the project.

By outsourcing these tasks you won’t have to pay someone a salary or offer them benefits. You will simply pay them for the project or service performed.

3. Save on Miles

Fuel is the number one trucking expense, so you’ll want to save as much as possible. Use a routing program like ProMiles to find direct routes, specifically for trucks. This way you can avoid downtown areas and driving far out of the way.

Other Ways to save file include slowing down. Going 65 mph instead of 75 will save 27% of fuel. Also, reduce idling time and drive less aggressively. Try to come to smooth stops, and slowly accelerate instead of mashing the pedal and slamming the breaks.
TruckLogics is the leading trucking business management program

4. Get the Right Software

Don’t pay tons out of pocket for complicated trucking software that doesn’t have the tools you use. Use a cost-effective business management program like TruckLogics. TruckLogics won’t break the bank and makes it easy to track, analyze, and improve your business online.

While on the road you can view reports like the Profit and Loss report to review how your business is doing, use expense tracking to see where your money is going, create professional invoices to get your money, and much MUCH more!

Sign up for your free TruckLogics trial now to learn how you can save time and money with the market leading online trucking business management program! Please don’t hesitate to contact our amazing, live support team if you need any assistance.
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Tuesday, 13 February 2018

How to Efficiently Analyze and Improve Your Fleet Operation

TruckLogics is your online trucking business management solution

So, you would like to improve your fleet operation? Well, the first step to improvement involves seeing where your trucking business stands. Figuring out your business records to learn about your finances may sound like a headache, and you may feel tempted to call an accountant.

However, you can easily track and analyze every aspect of your fleet operation online with the help of TruckLogics. TruckLogics is the market leading online trucking business management program with every tool you need to run and improve your fleet, even if you’re on the road.

How To Efficiently Analyze and Improve your Fleet Operation

Trucking Business Reports

With TruckLogics you’ll always know how your fleet operation is doing with the ability to create and view detailed business reports at the drop of a hat. For example, the Profit and Loss report will show your trucking businesses’ finances for at any time.

The report displays cost per mile, revenue per mile, and profit per mile, so you’ll know if your breaking even, making a profit, or going under on a monthly, quarterly, yearly, or custom time range.

Trucking Expense Management

You can also use TruckLogics to easily manage your expenses and see where your money is going. Any time you or your drivers make a fuel purchase a photo of the reciept can be uploaded to your account for your records. The fuel expenses are so detailed that you can enter the quantity, type, and cost for each transaction.

Are you tired of entering your repeat expenses over and over again for your records? Then let TruckLogics handle it for you. You can set up any payment as a recurring expense and TruckLogics will automatically calculate it into your reports based on its frequency.

TruckLogics simplifies trucker settlements

Truck Driver Settlements

Speaking of expenses, don’t forget about paying your drivers! TruckLogics simplifies driver settlements by making them easy to instantly handle online. Your drivers pay will automatically be calculated based on your settings.

You can elect to pay your drivers per mile, loaded mile, percentage of revenue, or manually, then the hauling charge will automatically be calculated. Plus, you can add fuel surcharges, accessorial fees, reimbursements or deductions, and even advance the pay for your driver.

Professional Invoicing for Trucking Companies

TruckLogics also makes it easy to get your money by giving you the ability to create custom invoices online. The invoices are completely professional and customizable to suit your individual needs.

They’re so quick and easy to create that Trucklogics even auto-fill some of the fields for you and they can be downloaded, printed, or emailed to go wherever they need to!

You can easily track your invoices based on their due date to track if they’ve been paid. Plus, you will receive alerts to remind you when invoices are coming up, due, or late, so you’ll never forget to collect payment.

Take control of your trucking company now!

Why wait? Take control of analyzing your fleet operation to figure out where improvements could be made today. Simply sign up for your free TruckLogics 15-day trial to start using their innovative features for managing your entire trucking business online.

If you have any questions please feel free to contact the outstanding, US-based TruckLogics support team and visit TruckLogics.com for more trucking blogs.
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