Friday, 13 November 2015

Business Management Breakdown | End of Year To-do List


Are you ready for 2016? Do you have all your trucks in a row? You might think you still have time because it’s November, but you know how time flies and before you know it you’re scrambling to get everything done at the last minute. The TruckLogics Crew doesn’t want you to start the new year stressing out. We want you to start with a plan to increase profits and truck your way to a great year. The best thing to get in gear for the new year is to make an End of Year To-Do List. It will make your life so much easier being able to actually see everything you need to have done. Let’s get cracking because we don’t have a lot of time left!

End of Year To-Do List

You don’t want to forget anything when making this list. So start with things that you have to pay to operate next year and things you have to do for your taxes. Note - some renewals are bi-annually and some are done every year. 

Renewals
  • IFTA
  • IRP
  • UCR
  • DOT State Permit Renewals (NM, HUT, OR)
Once you have the renewals listed you need to take care of, then move on to tax information. If you have an accountant, list out everything you need to send them. If you do your taxes yourself (mad respect), then make out a list of everything you need to complete your tax returns.

Taxes
  • Have documentation of each month’s expenses (variable and fixed). 
  • Have documentation of your revenue for each month.
  • Check to see if there are any new deductions you can claim.
  • Know the deadline to have your taxes done or to have your information sent to your accountant. Tax services usually charge more the closer it gets to the deadline so get your information to them ASAP.
What you need for your taxes may differ from the list, but it’s a good place to start. Once you have all the paperwork items listed that you need to have done, your truck is next.

For The Truck
  • Schedule maintenance that needs to be done. 
  •  Inspect all chains and tie downs to see if they need to be replaced (if chains are warped, bent, or rusted they are unsafe and you can be cited. Same goes for tie downs, make sure they are not frayed or ripped.)
  • Thoroughly inspect your truck to make sure nothing needs to be replaced. Get close and personal with your truck and inspect every inch. You know you want to.
  • Clean the inside of your cab. Wash your bedding (maybe wash it twice if it’s been awhile), rugs, and take a cleaner to that carpet if you have it. Scrub every inch and make it shine like the day it rolled out of the factory. A clean truck = a happy driver.
Every truck has a personality and some are more high strung than others, but they all appreciate being taken care of. Show your truck you care and she will take good care of you. 

Next up, make a list for what you need for your business. Driving a truck is a business, not just a job. Whether you are leased on, an owner-operator, or living the small fleet life, you are a business. Here is what you will need to manage your trucking business for the new year.

For The Business
  • Sign up for a TruckLogics Free Trial!
  • Call the TruckLogics Crew and enjoy some true southern hospitality as we personally show you how everything works and get to know your business better.
  • Plan a profit forecast for the next year.
  • Know the numbers you need to beat for the next year (profit per mile for each month).
  • Plan to celebrate the end of 2015 stress-free because you did everything you needed to do.
  • Start the new year on the road to success with TruckLogics.

When it comes to things you need to do before the end of the year, you have a long way to go and a short time to get there, my trucking friend. Write everything down and make it happen. You’re going to be so happy you geared up now and got it all taken care of. If we have learned anything in the world of trucking, when you wait until the last minute you always pay a lot more money and lose a bit of your sanity. 2016 is going to be your best year yet, so start it out right with TruckLogics and The Crew.

Call The Crew

We want to know what frustrates you about running your business. TruckLogics is the upgrade you have been searching for and The Crew is ready to show you a whole new world. Contact us at our Rock Hill, SC headquarters via phone: 704-234-6946 or email: support@trucklogics.com.

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