In today’s hyper competitive freight market, it seems like everyone’s a truck dispatcher. We’re the original truck dispatch services company. Looking back, I remember trying to convince the old schoolers at OOIDA that what I wanted to do was feasible, doable, and needed. In turn, they said it couldn’t be done. That I was wasting […]
Much has been written over the past several months about the big changes sweeping through the trucking industry. Obviously ELDs are at the top of everyone's lists and I will be publishing a post about the Top-10 but for now let's have a look at the big three headliners.
How was your second half of 2017? How was your fourth quarter? I hope it was good. It was pretty great for some of the largest carriers in America. It was really great for us. I remember reading in a report the other day that the average spot market rate went up by 35%. That is huge! Ours was more like 50% more money which was fantastic since expenses stayed the same.
I love stats. I like being able to take a bunch of data and segment it, cut it up, and make something useful out of it. It takes time and knowledge but the end result is eye-opening. This is one reason I love reviewing our analytics data for the many web properties owned by American Freight Trucking, Inc.What I love more that this is when a huge global conglomerate like Google does the number crunching for me. They also tend to make prettier charts. So when this post hit my inbox, I absolutely had to write about it. I think you just might find it eye-opening, much like I did. So here goes.
National Van Rates Break Records in January 2018. To be more precise, the average van rate for January 2018 was just a tad over $2.25/mile. That is not bad at all for an "average" rate. Imagine if you were working with a dispatch company who consistently booked you at an "above-average" rate per mile.Compared to December 2017, just a month prior, when prices were already beginning to increase once the ELD mandate hit the books, prices were up an average of
[caption id="attachment_261" align="aligncenter" width="525"] It was a big mess when we were putting together the computer systems.[/caption]I talk to a lot of independent owner operators every day. I find out how they're doing, what's going well, what they could use some help with. What I find interesting is how in all the years I've been doing this, I've only ran into one trucker who full-heartedly enjoys filling out those pesky packets.As of this writing, we've been in business just under six years and in all these years, I've only met one such person.
So earlier I was reading an interesting article on Overdrive about the new tax plan. More importantly how it will affect the trucking industry and all the independent owner operators.In this post I simply wanted to quickly look at these changes. I am not a tax professional by any means and always recommend using one for your personal and business finance management.Here's what I learned about
It’s been a while since I’ve posted last. I intend on being much more active on this blog and sharing more useful content with our readers. Having reviewed the available analytics data, I could see that many of you have found several of my articles helpful. Top 3 Post of 2017 The P&L Statement CMCI […]
I'm big on calculation, stats, and statements. I believe you need to know the costs associated with making your business work. Profit & Loss statements or P&L statements are of utmost importance in the trucking industry because of the extremely variable nature of our business.Diesel is a big expense and the cost varies. IFTA is based on miles calculation and state fuel tax rates. Putting on miles means increasing exposure to insurance claims and other operating hazards. In addition to all of this, the trucking business is affected by the general state of the U.S. economy.In this post I want to show you what you need to build your very own Profit & Loss statement. This can be done in Excel or if you don't have Excel you can also do the same thing for free at https://docs.google.com/spreadsheets/u/0/ if you have a Google account.
Payroll is a big deal! You gotta pay yourself, you gotta pay your employees, and you gotta pay your contractors! The problem here is that Payroll can be a bit of a pain for many people.When doing payroll depending on if you have W-2 employees or 1099 contractors, the situation changes. If you're a one man army, you're a W-2 employee because you just can't be a contractor for your own company.Here are just a few items you have to keep in mind when doing payroll for a W-2 employee and keep the IRS agents happy.