Cashflow Corner presented by TriumphPay …There is no shortage of deductions that truckers can take. You just need to know where they are.
The Owner-Operators Independent Drivers Association has joined efforts to change the current hours-of-service rules to allow drivers to stop driving when they are tired.
U.S. Chamber of Congress president, Thomas J. Donohue, is preparing for an uphill battle to push for a raise of the federal gas tax by 25 cents per gallon to help shape the debate about upgrading U.S. roads, bridges, airports and other infrastructure.
As it stands, the tax bill, as it’s currently drafted, looks to benefit the industry in general, but what it means for the individual trucker is less clear.
Filing your taxes can be confusing enough, try writing tax law. The complications in writing a tax law is one of the reasons the nation has not seen a major revamp of current law since the 1980s. Here are some of the key provisions in the draft bills.
As 2017 winds down, many carriers are taking a hard look at their tax situation. Is there anything they can do now that can reduce their tax liability? There is, and it comes in the form of equipment purchases.
The Republican tax plan has officially been unveiled, and it includes a permanent corporate tax rate cut from 35% to 20%. The $1.5 trillion plan also includes the shrinking of the number of tax brackets to just four and eliminates the alternative minimum tax. It does not change the pretax treatment of 401K plans, as had been discussed previously.
In the past 24 hours, President Donald Trump has issued an executive order that could allow small businesses and individuals to purchase insurance through association health plans, which would be sold across state lines and not have to conform to Affordable Care Act (ACA) regulations.
The U.S. Senate is set to pass a self-driving vehicle bill, and like similar legislation in the U.S. House passed early in September, it excludes commercial vehicles. The Senate bill will not include vehicles larger than 10,000 pounds, Reuters reported.
President Donald Trump and Republican leaders introduced their long-awaited tax reform plan on Wednesday. As expected, the plan calls for a significant cut to the corporate tax rate, from 35% to 20%, and the elimination of four of the seven individual tax brackets, creating brackets of just 12%, 25% and 35%.
As tax reform hits Washington, truckers weigh in on the importance of tax reform that is simple and rewards domestic investment.
An unlikely alliance has formed between FedEx and UPS over a common problem. Their respective chief executive officers co-wrote an editorial in the Wall Street Journal in an attempt to get the attention of Trump administration and policy makers regarding needed industry reforms.
A group of more than 250 House lawmakers are pushing for any tax reform package to include a permanent fix to the Highway Trust Fund. Also, Trump pushes apprenticeships, Britain’s Brexit problem and manufacturing hitting record levels.
After months of talking about his $1 trillion infrastructure improvement plan, President Donald Trump is finally set to unveil more details on the proposal today. Also, transportation’s best CEOs and there were fewer trucking jobs in May.
While Congress and the states kick around proposals to increase funding for infrastructure, Robert Atkinson, an opinion writer for The Hill, has backed the idea of charging big rigs taxes based on the number of miles they drive.
Whether you are a large or small trucking company, or even a driver, there is a lot to like about President Donald Trump’s proposed tax plan, even if many of the specifics are lacking at this point.
