Apr 12, 2024

The Most Desirable Truck Stop Amenities

The Most Desirable Truck Stop Amenities

We asked our community of nearly 1 million truck drivers to give us their top choices of truck stop amenities.

The Dangers of Ignoring Tax Filing Obligations for Truckers <p>For self-employed truckers, many things are top of mind for them, such as being away from home, staying healthy on the road, and keeping up with the demanding aspects of the job. With all this, it’s easy for these truck drivers to overlook the less glamorous aspect of tax filing. </p> <p>However, especially for independent truckers, neglecting your tax obligations can lead to many financial and legal troubles that could derail your successful careers on the road. </p> <p>Let’s look at some of the potential consequences of failing to file tax returns on time or at all for truck drivers, as well as how you can rectify your tax mistakes and become compliant. </p> <p><strong>Consequences of Not Paying Taxes</strong> </p> <p>Failure to file tax returns on time, or worse, not filing at all, can have severe repercussions for truck drivers. The IRS imposes some serious penalties and interest charges for late or non-filing of tax returns. These penalties can quickly accumulate, compounding the financial burden on these truckers who are already grappling with the unique demands of the industry. </p> <p>One of the immediate consequences of non-compliance is the accumulation of penalties and interest. The IRS charges a late filing penalty, which <a href="https://www.irs.gov/payments/failure-to-file-penalty" target="_blank">amounts to 5%</a> of the unpaid taxes of each month that a tax return is late. For truck drivers, who often operate on thin profit margins, these additional financial burdens can be crippling to their or their family’s livelihoods. </p> <p>On another note, failing to file your taxes also means that truckers miss out on potential refunds. Truckers can get tax deductions for their businesses, including truck payments, fuel, accounting fees, maintenance fees, insurance, and other business expenses. By not filing your taxes, you could be losing money! </p> <p>Furthermore, failure to file tax returns for a long time, such as three years, can lead to more serious consequences. This could be wage or bank account levies, federal tax liens, property liens, potential tax evasion charges, passport revocation, or even seizure of tax refunds. </p> <p>Aside from the financial consequences, non-compliance with tax filing obligations can damage a truck driver's reputation and business relationships. Clients, other truckers, and business partners may view non-compliance with tax laws as a sign of irresponsibility or untrustworthiness, potentially leading to loss of contracts or employment opportunities. </p> <p><strong>What To Do To Be Compliant?</strong> </p> <p>So, what should truck drivers do if they find themselves in a situation where they haven't filed taxes in the past or are struggling to meet their tax obligations? </p> <p>The first step is to start proactive measures to address it. It can be difficult for truck drivers to dive headfirst into possible years of tax forms and receipts; this is where seeking the help of a professional can be beneficial. </p> <p>A qualified tax professional or accountant who understands the trucking industry will also understand the unique challenges faced by truck drivers. They can provide guidance on how to gather necessary documentation, handle the various tax laws, and help truckers develop a strategy to become compliant with filing requirements. </p> <p>It is also important for truck drivers to, going forward, be proactive in addressing their tax filing obligations and to prioritize compliance in future tax payments. This can look like having better record-keeping practices to track income and expenses throughout the year, setting aside funds for tax payments, and staying informed about changes to tax laws. </p> <p><strong>Get Help With Your Taxes</strong> </p> <p>At the end of the day, ignoring tax filing obligations can have serious consequences for truck drivers, both financially and legally. However, it’s not too late for truckers to start getting compliance and filing their taxes today. </p> <p>Trucker Path has partnered with ATBS to give Trucker Path users special discounts on tax and accounting services from professionals who specialize in helping truck drivers. </p> <p>Looking to get your taxes done right? Reach out to <a href="https://www.atbs.com/trucker-path" target="_blank">get help from ATBS today!</a> </p>

Mar 13, 2024

Lendio Brings Small Business Financing to Trucker Path App Users <p><em>Fast access to loans through the Trucker Path Marketplace brings much needed capital to trucking and transportation businesses</em> </p> <p><strong>PHOENIX – January 30, 2024</strong> – Trucker Path, a subsidiary of leading global SaaS provider Moatable. Inc. (NYSE: MTBL) and the most comprehensive and relied upon mobile app for North American truckers, today announced its partnership with Lendio as an embedded lending solution in the Trucker Path Marketplace. As the nation’s leading small business financial solutions provider, Lendio has already funded over $330 million for trucking businesses, and will now offer a range of its financing services to the Trucker Path community of users. </p> <p>“Lendio brings much needed capital to trucking businesses, who have traditionally been underserved by banks,” said Chris Oliver, CMO at Trucker Path. “Their loan products, which are tailored for transportation businesses, can be used to buy, upgrade or repair equipment, invest in technology to gain a competitive advantage, and expand operations or add staff. We are excited to announce that Lendio is bringing these opportunities to the Trucker Path Marketplace to help our community of nearly 1 million users address their financial needs.” </p> <p>Trucking and transportation offerings from Lendio include asset or revenue-based financing, debt financing, lines of credit, and equipment financing. Lendio’s online application, which is available right in Trucker Path’s mobile app and does not impact the applicant’s credit, can be completed in as little as 15 minutes and funding can be available as quickly as within 24 hours. Throughout the process, applicants receive personalized support from a dedicated expert who will ask about their needs, walk them through different financing options, and help them choose the best financing solution. </p> <p>“With Lendio’s Embedded Lending, Trucker Path users will now have faster access to financing from a variety of lenders that best meet their business’ needs,” said Brock Blake, CEO and Co-Founder at Lendio. “We know access to capital can be a big roadblock for many small businesses, and our marketplace has helped hundreds of thousands of businesses with this – including many in trucking and transportation – over the past decade. This partnership aligns perfectly with our mission to create a world where small businesses survive and thrive, and we’re so excited to work with Trucker Path.” </p> <p>Truck drivers interested in learning more can visit <a href="http://www.partners.lendio.com/trucker-path">www.partners.lendio.com/trucker-path</a>. </p> <p><strong>About Lendio</strong> </p> <p>Lendio is the nation’s leading small business financial solutions provider, with a mission to help small businesses survive and thrive. With its diverse network of lenders, Lendio enables small business owners to apply for multiple business financing options with a single application. In addition to creating access to small business capital, Lendio offers time-saving financial SaaS products that are designed to streamline business operations. </p> <p>Lendio is a mission-driven organization striving to provide equal access to capital to underserved communities and America’s smallest businesses. For every new marketplace loan Lendio facilitates, <a href="https://www.lendio.com/lendio-gives/">Lendio Gives</a>—an employee-contribution and employer-matching fund, in partnership with KIVA–provides a microloan to low-income entrepreneurs around the world, continuously re-investing the fund. For more information visit <a href="http://www.lendio.com">www.lendio.com</a>. </p> <p><strong>About Trucker Path</strong> </p> <p>Phoenix-based Trucker Path, the provider of a wide range of truck driver-centric mobility products, is a subsidiary of leading global SaaS provider, Moatable, Inc. (NYSE:<a href="https://www.prnewswire.com/news-releases/moatable-announces-name-change-from-renren-inc-to-moatable-inc-301856263.html">MTBL</a>). The Trucker Path app is currently in use by nearly 1 million professional truck drivers. Offering best-in-class navigation with truck-optimized routing, the Trucker Path app provides access to vital up-to-date information about truck stops, real-time parking availability, fuel prices, weigh station statuses, and truck scales and wash locations. The company also offers TruckLoads, a digital freight exchange that connects drivers, carriers and brokers; and COMMAND™, the industry’s first and only Operations & Driver Relationship (ODR) platform that provides small to mid-size fleets with the necessary driver and TMS technologies to successfully run a fleet. For more information, visit <a href="http://www.truckerpath.com">www.truckerpath.com</a>. </p> <p><strong>Media Contact:</strong> </p> <p>Susan Fall </p> <p>LaunchIt Public Relations </p> <p>858-490-1050 </p> <p>susan@launchitpr.com </p>

Jan 30, 2024

Do's and Dont's of a Trucking Lease Purchase <p>Starting your own trucking business as an owner-operator can be a big dream. One of the main hurdles you'll face is getting a reliable truck. Trucks are expensive, and only some in the trucking business have enough money to buy one upfront. </p> <p>Lease-purchase trucking is an option if you want to work towards owning a truck while gaining valuable driving experience. However, these programs have rules, and they might not suit everyone. </p> <p>Given the new <a href="https://www.trucking.org/news-insights/trucking-reacts-biden-administrations-independent-contractor-rule-and-renomination">Biden regulation</a> on independent contractor classification, much has been talked about lease purchase decisions. </p> <p>The American Trucking Association (ATA) strongly opposes the recent Biden Administration rule on independent contractor classification, criticizing the decision to replace a clear standard with a more complex one. </p> <p>ATA President Chris Spear expresses concern about the potential negative impact on the trucking industry and workforce choice, especially for the 350,000 truckers working as independent contractors. </p> <p>Despite the administration's arguments, the ATA asserts the vital role of independent contractors in the economy, pledging to work with stakeholders to oppose the rule. </p> <p>In the end, it should be well thought out by the person getting into a lease purchase program. That’s why we have a detailed guide on what you should and shouldn't do when considering a lease-purchase trucking arrangement. </p> <p><strong>What is a lease purchase program?</strong> </p> <p>Lease purchase programs are like rent-to-own plans designed for truck drivers. The trucking companies that lease and sell trucks also manage these programs. </p> <p>In a lease purchase program, you make an initial payment for a truck and keep making payments for a certain time. While making these payments, you can also work for the company leasing the truck. Once you fully pay for the truck, it becomes yours, and you can use it for your trucking business. </p> <p><strong>Two kinds of lease drivers</strong> </p> <p>Before we dive into the main part of this article, it's important to know that there are two types of lease drivers. </p> <p>1. A lease driver who goes for a <a href="https://roadlegends.com/blog/post/lease-purchase-trucking-companies">lease purchase trucking company</a> and uses their freight. </p> <p>2. A lease driver who leases from a commercial equipment financing company and arranges their own freight. </p> <p>You can choose either option, but many drivers find it simpler to lease with a trucking company, especially if they're new to leasing. </p> <p><strong>Do’s of a lease purchase program</strong> </p> <p>Stepping into the lease purchase program as a truck driver is a significant move that demands careful consideration. In this section, we'll walk you through the essential "do's" to set you on the right path for a successful and fulfilling journey toward truck ownership. </p> <p>1. Do your homework </p> <p>Before you sign a lease agreement, it's essential to do some research and find a company that matches what you're looking for. Check their policies on time off, the availability of freight, and the expected pay. </p> <p>Leasing from a carrier means you have the support of that company. They provide tools to help you, and you'll have access to the freight they offer. Their program will be designed based on the type of freight the carrier transports, giving you a good idea of potential earnings. </p> <p>Leasing independently from a commercial equipment financing company and working for various freight clients can be challenging, especially if you're new to leasing. While you can earn significantly more than with a carrier, there's also the risk of earning much less. </p> <p>Also, find out what kinds of trucks they offer. They might have limited options, and you'll need to look elsewhere if you want a different make or model. </p> <p>2. Go through the contract thoroughly </p> <p>Review the agreement thoroughly before signing, as many drivers face financial difficulties due to overlooking terms they didn't understand. If the contract is complex, seeking guidance from a contract lawyer is wise. </p> <p>Investing in a lawyer's expertise now, even with a small fee, can prevent potential hardships down the road. Understanding the terms and conditions ensures you know your commitments and rights throughout the lease agreement. </p> <p>3. Choose a good company to work with </p> <p>Leasing provides freedom, but it also brings significant responsibilities. While picking your own freight is nice, making wise choices is crucial to avoid problems. You'll need to make decisions that benefit your business, even if it means spending more time on the road. </p> <p>Before committing to a lease, thoroughly examine the leasing company and ask to review a sample lease. Ensure there are no unexpected terms or costs, and feel confident about working with the company and transporting their freight. </p> <p>4. Have a bookkeeper </p> <p>When you start your lease-to-own trucking adventure, having a <a href="https://www.atbs.com/trucker-path">bookkeeper and accountant</a> is crucial. Before you begin, discuss your budget with them to get their advice on managing taxes and other business costs. </p> <p>They can guide you on which expenses to track using receipts. Once you've set up this connection, use their expertise; after all, they are professionals for a reason. </p> <p><strong>Don’ts of a lease purchase program</strong> </p> <p>Starting your journey toward truck ownership through a lease purchase program can be tricky. To make sure things go smoothly and you don't end up facing unexpected problems, let's explore the things you shouldn't do. These pitfalls might hurt your wallet and your dreams of <a href="https://cdlworker.com/blog/owner-operator-jobs">becoming an owner-operato</a>r. </p> <p>1. Take your time, don't hurry </p> <p>Starting your journey toward truck ownership through a lease purchase program requires careful consideration. Don't rush into deciding about the lease. Take your time to understand the terms and conditions thoroughly. </p> <p>It's a significant commitment, and being in a hurry might lead to unforeseen issues that can cause financial troubles or other complications down the road. Spend time checking every aspect to ensure the deal aligns with your goals and financial capabilities. </p> <p>2. Don't disregard insurance coverage </p> <p>It is essential not to overlook the critical aspect of insurance coverage when engaging in a lease purchase program. Ensuring that the leased truck has comprehensive and adequate insurance coverage is important. </p> <p>Neglecting this consideration can expose you to significant financial risks, especially in the unfortunate occurrence of accidents or unforeseen incidents during your trucking operations. </p> <p>Having good insurance coverage acts as a protective shield, providing financial security and mitigating potential liabilities that may arise on the road. Therefore, thoroughly assessing the insurance coverage for the leased truck is a proactive step toward safeguarding your lease. </p> <p>3. Don't ignore industry trends </p> <p>Staying well-informed about the latest industry trends is of utmost importance. Ignoring these industry dynamics can profoundly impact your decision-making process, influencing not only the terms of your lease but also shaping your overall business strategy. </p> <p>Recognizing and adapting to emerging trends is instrumental in positioning your trucking business for success, ensuring that you are well-prepared to navigate the ever-evolving landscape of the trucking industry. </p> <p>4. Don't skip customer reviews </p> <p>Conducting thorough research into customer reviews about the leasing company is crucial in the decision-making process. Disregarding valuable feedback from fellow lessees may lead to overlooking potential challenges or advantages associated with the services provided by the company. </p> <p>Customer reviews offer insights into the firsthand experiences of individuals who have engaged with the leasing company, providing valuable information that can influence your choice and contribute to a more informed decision. By actively considering and analyzing customer reviews, you can gain a comprehensive understanding of the leasing company's reputation, customer satisfaction levels, and potential areas of improvement, ensuring a well-rounded assessment before entering into a lease agreement. </p> <p><strong>May you make the best choice!</strong> </p> <p>Now that you've gone through the do’s and don’ts of the lease-purchase in trucking, we hope it helps you make the right decision. Becoming an owner-operator through a lease purchase program needs careful thinking and smart moves. By doing what you should and avoiding what you shouldn't, you set the stage for a successful journey. Think of it as a roadmap to owning your truck and making it big in the trucking business. </p>

Jan 17, 2024