Visit our comprehensive services page to see how TBS can help. Transportation accounting is a comprehensive record of costs to the company, services rendered, and how funds are spent, distributed costs to customers. Along with accounting structure, clearly defined terms, and plotted charts. There is often a lot of overlap between bookkeeping and accounting. Below is a closer look at the similarities and differences between the two. Without the proper supporting documents, an audit might not result in your favor.

TBS: Get Paid® App

• Highway motor vehicle owners must fill out the 2290 tax form.
• Unlike other outsourced accounting solutions, once we understand the current state, we identify areas to improve the total process rather than continuing the status quo.
• When you purchase a vehicle after August 31, you must fill out the tax form within 60 days of your purchase.
• Our innovative approach pairs intuitive software with a team of real, human bookkeepers who are familiar with the trucking industry’s specific laws and tax requirements.
• We’ll respond to your questions within one business day or sooner.
• The most visible form of a small business is a limited liability corporation, better known as an LLC.

From records of your profits and losses, to tax estimates, profit planning, and other budgeting resources, our bookkeepers will scan and document your critical business information. Each year, over 20,000 owner-operators trust ATBS to help them earn more money, reduce stress and improve their trucking business. We’ve been helping independent owner-operators https://www.bookstime.com/ like you for over 50 years. Let our experts help with permitting, compliance, insurance down payments, and more so you don’t have to tackle it all alone. TBS is dedicated to spending the next 50 years making it easy for independents to get started and stay rolling. When choosing an accounting basis, it is important to know what your options are.

Issuing W-2 Forms and 1099s

Keeping your business’ books is a full-time job and a critical part of your operation. The Trucker CFO is a Certified Public Accountant (CPA) who specializes in helping owner-operators, independent contractors, fleet owners and trucking entrepreneurs. With our bookkeeping service, we utilize strategies and solutions to truckers bookkeeping service help you manage your money effectively and help increase your profits. Also, having a bookkeeper who prepares taxes makes it easier to file your tax return. If your bookkeeper and tax preparer work together, they can find all the legal deductions you are entitled to, so you don’t pay more in taxes than you have to.

Step 3: Select Your Accounting Basis

I can confidently serve my clients because I have created a business that specializes in the trucking industry. Against the odds of raising a family and building a business, I succeed. Even though I have a Master’s in Accounting, I didn’t want to get lost as a nameless face in a large company. I got qualified so I can build something for me and my family.

Saving for Year-End Taxes

We give you the right resources to help you comply with federal regulations. For instance, if you are a fleet of one and you operate as an owner-operator, then identifying as a sole proprietor may be best for you. Keep in mind that your business could affect your personal finances if something goes awry, making this the easiest yet also the riskiest option. Find out for yourself how good TruckingOffice PRO is by taking it for a free  test drive starting today. The TBS Fuel Finder site helps you save money on fuel and gives you access to exclusive fuel discounts nationwide.

• Decimal will build processes and systems for your needs that work with your broader business.
• We truly take an “operations-first” mindset with our solutions.
• You can email us or you can upload your business receipts to a secure portal.
• Customer satisfaction is at the heart of everything we do.
• We sync seamlessly with your financial accounts and tools to keep your books up-to-date and save you the time and effort of manually uploading documents.
• TBS Factoring Service makes trucking easier with unmatched technology and customer service.

Trusted by 25,000+ American small business owners

• We manage your books, so you get more time to focus on keeping America moving.
• The sooner you call, the faster we start on your bookkeeping bliss.
• Most of the bookkeepers are 100% remote and meet via Zoom or Teams.
• This is usually when your bookkeeper goes on vacation, is sick, or otherwise unavailable.
• This way, truck drivers can focus on the road and leave the complex facets of accounting to us.
• If you only need tax support, we’re happy to help get everything planned and prepared so that filing taxes is hassle-free.

TBS provides free, unlimited, top-quality credit checks on every company you haul for. You’ll have all the credit information you need to make the best business decisions. Working with a freight factoring company makes life easier. With TBS, getting set up is FREE and can be done in as little as 24 hours. Don’t wait for freight brokers and shippers to pay your freight bills.

View Bookkeeper’s profiles below