Bookkeeper and Accounting for Truck drivers

Whether it’s managing the complicated IRS Form 2290 for heavy highway vehicle use tax, or optimizing your per diem deductions, Bench has got it handled. With Bench, you can focus on what you do best – steering your trucking business towards success – while we take care of your bookkeeping and tax needs. ProTransport also offers integration with popular dispatch and fleet management systems, making it an excellent option for businesses looking to streamline their invoicing and billing process. QuickBooks is one of the most popular accounting software options for small businesses and offers a range of features that can benefit trucking businesses. In addition to its customizable invoicing templates and robust payroll management capabilities, QuickBooks also offers features such as expense tracking, inventory management, and financial reporting.

Many business owners learn too late that mingling your personal and business funds makes it hard to identify which transactions belong in which category. All features, services, support, prices, offers, terms and conditions are subject to change without notice. A Form 1040 return with limited credits is one that’s filed using IRS Form 1040 only (with the exception of the specific covered situations described below). TurboTax Premium searches 500 tax deductions to get you every dollar you deserve.

See if you’re eligible for business financing

Many drivers must get regular medical exams as a condition of their work. Out-of-pocket costs for these required exams are deductible business expenses. Other regular medical expenses, such as doctor or hospital visits and medications, are only deductible if you itemize deductions on Schedule A. Although the IRS has a per diem rate for lodging in other industries, truck drivers are required to claim actual lodging expenses. They cannot claim the per diem rate the way they can with meal expenses.

The best trucking accounting software can be a standalone trucking-specific program or a versatile accounting solution that seamlessly integrates with specialized trucking tools. At ATBS, we can help with your accounting by reviewing your financial records and transactions to prepare your monthly profit and loss statements. With these profit and loss statements, we can analyze how you’re performing in different areas of your business. From there, we can advise you of areas where you’re performing well and areas where you need to improve based on the financial results of other owner-operator truck drivers in the industry.

TAX, ACCOUNTING, AND CONSULTING SERVICES SPECIFICALLY FOR TRUCKERS

As such, it is imperative that you prioritize the management of your accounts and invest in premium trucking accounting software. Set your business up for success by choosing the best accounting software for trucking companies. One of the key benefits truckers bookkeeping of FreshBooks is its mobile apps, which allow small trucking businesses to manage their finances on-the-go. The apps are available for both iOS and Android devices and offer features such as invoicing, expense tracking, and time tracking.