Advantageous tax strategies are an important aspect of the modern business environment. In the trucking industry, many factors can influence tax liabilities each year. The question of allowing certain big-ticket infrastructure expenses – trucking improvements, replacements, rebuilds, and extensive repairs – to depreciate or not creates its own set of challenges. Just as trucking insurance … Continue reading “Exploring Trucking Improvements and Equipment For Tax Purposes”
Trucking insurance is a foundation element of risk management in the commercial transportation industry. This valuable insurance protects company assets, vehicles, and cargos from losses. Unfortunately, premium costs have grown in recent years, and recent proposals to federal rule changes could cause price increases. The Biden Administration has been exploring an increase to minimum liability … Continue reading “Will Higher Insurance Premiums be Required for the Trucking Industry?”
The United States Department of Transportation (US DoT) has undergone many changes over its history. As old Presidential administrations depart, they leave their stamp on the agency tasked with overseeing America’s federal roadways and transportation systems. New administrations often bring with them new priorities for the agency. With the confirmation of Peter Buttigieg as the … Continue reading “What Does the Biden Administration Mean for DoT?”
Despite the challenges posed by COVID-19 on the commercial trucking industry, freight levels have continued to outpace expectations. There are many factors that have reversed low consumer demands in the early part of 2020, and by the end of the year, the commercial transportation industry was nearly back to pre-pandemic levels. Still, challenges remain, and … Continue reading “Freight Demand & Concerns On the Rise”
As the coronavirus pandemic continues its hold on the American economy, trucking companies are experiencing a new challenge: a rise in cargo thefts. While cargo thefts have long been a part of commercial truck shipping, the increase in recent months has been attributed to desperation on the part of criminals facing economic hardships. Trucking insurance … Continue reading “Year-Round Cargo Theft Prevention Techniques”
Hours of service (HOS) compliance is an important part of risk management in the commercial trucking sector. In addition to trucking insurance and safety-oriented procedures, adhering to HOS guidelines for driver operations can protect fleets and their drivers while helping to avoid steep regulatory penalties. While “yard moves” are a common practice in fleet operations, … Continue reading “What is a “Yard Move”?”
Recently, the American Trucking Association (ATA) called on policymakers across the government, asking that the trucking industry members receive priority for the COVID-19 vaccine. Currently, there are two approved vaccines, with two more expected for release in the coming months. ATA sent letters to President Joe Biden, the former Trump Administration, the Centers for Disease … Continue reading “Will Truckers be One of the First COVID Vaccine Candidates?”
This past December, the Federal Motor Carrier Safety Administration issued an extension to its emergency declaration initially made last spring in response to the COVID-19 outbreak. The extension provides relief from hours-of-service regulations for commercial motor vehicle drivers in the trucking industry. It is now expected to expire on February 28th, following month after month of extensions. … Continue reading “Emergency Declaration Extended Through February 2021”
A new year means new changes for minimum wage laws throughout the United States. From state to state, employers are facing updates to minimum wage increases that may affect their employee base. In California, where more than 137,000 trucking companies (most of them small) operate, trucking companies are following their own changes that took effect … Continue reading “Minimum Wage Increases on January 1st, 2021”
Commercial truckers always operate with an element of risk in their daily routes. Whether it’s a quick load drop-off or a cross-country trip, the liabilities related to costly accidents and injuries are still the same. In fact, every 15 minutes, a person is killed or seriously injured in an accident caused by trucks, accumulating to … Continue reading “How Truckers Can Avoid Hefty Insurance Claims”
