#trucker finances

[artisticdivasworld]

Financial planning for truckers 

Financial planning is something a lot of folks in the industry overlook, but it’s super important if you want to stay afloat and keep your wheels rolling. First, let’s talk about budgeting. It might sound like a boring topic, but think of it as your roadmap. Without a clear budget, it’s like driving without a GPS. You know your income can be pretty unpredictable, especially with fluctuating fuel…

[joshhamilton11]

Navigating Tax Changes And Updates Affecting Truckers

Navigating tax changes and updates affecting truckers is crucial for maintaining compliance and optimizing tax strategies. Here's a breakdown of some recent tax changes and updates that truckers should be aware of:

Standard Mileage Rate: The IRS often adjusts the standard mileage rate for business miles driven for each tax year. Truckers who use their vehicles for business purposes can deduct a standard rate per mile driven for business. It's essential to stay updated on any changes to this rate, as it can impact your deductions significantly.

Per Diem Rates: Per diem rates for meals and incidental expenses (M&IE) are updated periodically by the IRS. These rates vary depending on the location and are intended to reimburse truckers for expenses incurred while away from home. Keeping track of the latest per diem rates can help truckers maximize their deductions for travel expenses.

Section 179 Deduction: Section 179 allows businesses, including trucking businesses, to deduct the full purchase price of qualifying equipment and software purchased or financed during the tax year. In recent years, there have been changes to the maximum deduction limit and eligible property, so staying informed about these updates is crucial for maximizing tax savings.

Fuel Tax Credits: Truckers who use fuel for off-highway business purposes, such as in refrigeration units or auxiliary power units (APUs), may be eligible for fuel tax credits. The eligibility criteria and calculation methods for these credits can change, so it's essential to stay updated on any updates to ensure accurate tax reporting.

State Tax Changes: State tax laws and regulations affecting truckers can vary widely from state to state. Changes to state income tax rates, sales tax rates, and other tax-related policies can impact truckers' overall tax liability. Keeping abreast of state tax changes and updates can help truckers effectively plan their tax strategies.

COVID-19 Relief Measures: In response to the COVID-19 pandemic, various relief measures were implemented, including tax provisions aimed at providing assistance to businesses, including trucking businesses. These provisions may include tax credits, deferral of tax payments, and other relief measures. Staying informed about COVID-19-related tax changes can help truckers take advantage of available benefits.

Electronic Logging Device (ELD) Mandate: The ELD mandate requires commercial motor vehicle drivers, including truckers, to use electronic logging devices to record their hours of service. While not directly related to taxes, compliance with the ELD mandate can impact truckers' operations and may have implications for tax reporting, such as documenting hours worked and mileage driven.

Tax Reform Legislation: Tax reform legislation, such as the Tax Cuts and Jobs Act (TCJA), can have far-reaching implications for truckers. Changes to tax rates, deductions, credits, and other tax provisions can affect truckers' overall tax liability and tax planning strategies. Staying informed about tax reform developments and understanding how they impact your tax situation is essential for effective tax planning.

Retirement Planning Options: Retirement planning is an essential aspect of tax planning for truckers. Understanding the tax implications of different retirement savings options, such as traditional IRAs, Roth IRAs, and solo 401(k) plans, can help truckers make informed decisions about saving for retirement while minimizing their tax liability.

IRS Enforcement Priorities: The IRS may prioritize certain enforcement areas, such as worker classification issues, underreporting of income, or abusive tax shelters. Being aware of the IRS's enforcement priorities can help truckers identify areas of potential risk and ensure compliance with tax laws.

Staying informed about tax changes and updates affecting truckers is essential for maintaining compliance, minimizing tax liability, and optimizing tax planning strategies. Consulting with a qualified trucker tax accountant can provide valuable guidance and assistance in navigating these tax changes effectively.

[immaculatasknight]

Ottawa supporting the Canadian economy

[badstargateimagines]

Stargate character analysis

Based on how they’d act at a minimum wage job inspired by my actual behavior.

Jack: He’s the type to show up to work in his pajamas, clock in, and then take an hour long shit before finally getting changed into his uniform. His shift starts at 5am on paper, but in practice it starts at 6:15. Time theft king. (Me while working at Canadian grocery chain that rhymes with blah blahs)

Sam: 15 minutes early for being 15 minutes early. She shows up and sits in the parking lot for 15 minutes before she goes into work and then sits there for another 15 minutes before her start time. However, if she notices something that needs to be done, she’ll do it before clocking in just so she doesn’t need to do it later. (Me when I worked at Sephora)

Daniel: kind of like Sam but hates his boss so he does everything he’s told to do but vagues about his boss online on anonymous accounts. Partial to the tradie breakfast (gas station coffee and pastry). Says he’s not stressed about work but has had anxiety about it since he went in for the interview. (Me when I worked at Canadian Old Lady Clothes Emporium with a duck as the logo)

Teal’c: Shows up at exactly his shift time and then makes a coffee before doing anything. Afterwards he just vibes and gives cryptic lore updates to anyone who comes by his desk. Has unionized himself and takes half hour long breaks and 1.25 hour lunch breaks. Spends his downtime engaging with hobbies. (Me when I worked at my town’s visitor’s centre)

Jonas: Interchangeable with Daniel. It’s always a toss up of who will show up for the shift. Has a panic attack when he can’t find his uniform. Beloved by management because he constantly seems like a baby animal who shouldn’t be at work, crushed by the weight of capitalism and yet he’s there doing his best. Protected by his coworkers because he’s constantly victimized by weird customers. (Me at the grocery store I worked at when I was 14)

Vala: straight up vibing. Pops an Adderall and downs 2 red bulls and calls it breakfast. Not sober when she wakes up? No problem! Have a shot as a pick me up and stroll into work because minimum wage isn’t worth the hassle of being sober. Watches people steal and just tells them where the camera blind spots are. They call her 007: 0 effort, 0 work done, 7 smoke breaks. Vapes in the receiving area and entertains truckers with her immeasurable amount of rizz. Almost fired for unionizing the old people in the smoking area but quits before they can actually fire her. (Me again working at Canadian Grocery Chain that rhymes with blah blahs)

Janet: receptionist who has a license to be incredibly mean to anyone who walks in. Shows up 10 minutes late every day because she has to pop into everyone’s office to say “omg hiiiiii!!” on her way to her office. Everyone loves her. Makes coffee when she knows the 60 year old lady from finance who knows all the gossip will be in the break room. Keeps the entire office together by being Radar O’Reilly. (Me when I temped at town hall)

Cam: he’s the young supervisor who ended up becoming a supervisor against his will who shows up with a litre of coffee every morning. Constantly forgets that he’s a supervisor so gossips with staff for like five minutes before his face goes blank and goes “shit, uh, we gotta get back to work” and then doesn’t. Whenever someone comes in late and apologizes for it he goes “nah don’t worry, I wish I wasn’t here too, take your time, I’ll adjust the punches.” Everyone thinks he’s cool but he’s actually just too stressed about potentially needing to write someone up that he’d rather just not see it. Gets all his work done and the team is always more productive when he’s there. (Me when I worked at the old lady clothes emporium)

General Hammond: retires by opening a business and not retiring at all. Effectively has the business to get out of the house. Hours are whenever he’s around. Picks a location close to his dentist and doctor’s office so he can close the store and walk there when he needs to go to an appointment. Spends his days talking to his friends and engaging with his hobbies. (My dad and the record store we opened together because he couldn’t stand doing nothing all day)

Harry Meybourne: calls in sick because he’s hungover or because it’s too nice out or something. Performs well at his job when he bothers to show up, really milking the labour shortage for everything it’s worth. Says he can’t work before 7am or after 9pm because he’s not able to drive when it’s dark. That’s a lie. (Me when I worked at McDonald’s when I was 17)

[wallbeatjournal]

What is a genre riverdale never tackled that you wish they did?

this isn't exactly an answer to your question, but after the promos for season 5 came out, my riverirls and i watched two (2) bad weird movies we'd never seen to prepare and/or manifest:

duel (1971), the homoerotic evil trucker movie. because of the evil truck promos, naturally

wall street: money never sleeps (2010), the terrible wall street sequel where aging gordon gekko has a weird triangle dynamic with his estranged daughter carey mulligan and her lame finance guy boyfriend shia lebeouf. and the money never sleeps.

ultimately i hold that wall street: money never sleeps was fairly relevant. but tragically duel was not. and that's tragic to me because i think riverdale could have served that fruit boots in the diner scene especially. you know the one, fellow duel understanders.

so i guess my answer is "scary homoerotic road rage movies."

[unexpectedyarns]

I've been very thrilled about the prospect of moving, and the possibility of buying a house sooner than we planned.

Now I have financiers telling me that they can't finance us even with high credit scores and 2 truckers' salaries "because of having to transfer jobs next year." (I mean, don't truckers travel from place to place? A great number of trucking companies are nationwide.)

Or telling me we can get financing but ONLY if one of us moves now and lives in the house within 60 days and the other one stays behind here to wrap up business. And even then, they want a written job or transfer offer, including salary, for within 60 days.

How can we have that? We haven't made a trip to look at houses. We haven't made an offer. We have no idea when closing would be, so how can we know when 60 days from that point would be?

We are not even asking for a definite loan /closing right now. Just for a ballpark approval so that we even know where to start looking.

I even had one place tell me they wouldn't accept a pre-approval application because "we weren't their established client." And another place tell me that they consider trucking "a part time job."

Seriously?

[kinkii-skinii-wannabe-trash]

Maybe Motivational?

If you’re the more practical type like me, I find that finances are a really good fasting motivator.

I eat whatever canned soup is on sale and monster ultra zero, and I literally do not need to waste more money than that on something that will end up in the toilet anyways. I literally never spend more than 4 bucks a day, and I don’t have to cook or nervously measure things out. If I want to splurge, maybe I’ll be some lettuce or a pack of kosher light franks, which can last a super long time.

Imagine how much money normies waste on food. Chain restaurants be charging 16 to 22 dollars a plate, and we aren’t even talking about the exorbitant cost of booze or a fancy restaurant! In saving myself those extra 12 to 18 dollars a day that would literally otherwise end up in the toilet, I could buy myself vacations, concert truckers, clothes, gym membership, hobby purchases, etc.

Remember! The cost of food goes beyond just calories!

#sweetspo #meanspo #bonespo #thinspi #thinsi #anorex$ia #anorekcya #skinni #skinny #thin #weightloss #thinspiration #diet #wieght #proana #th1nspo #edtumblr

[vomitdodger]

This happens quite frequently. Canadian truckers and other conservative causes only however. Remember this:

Digital currency will make this cancellation easy for the commies. Can cancel your finances anytime and anywhere. You will be become the ultimate slave. Truly comply or die scenario.

[rtrixie]

what steps do you think dissidents should be taking now in terms of their finances? it seems the methods the powers that be use against dissidents these days are mainly "soft authoritarianism" like freezing their accounts, pressuring them to lose their jobs, etc.

What Trudeau did to the trucker protesters in Canada was definitely something of a new calibre - the kind of banking sanctions previously reserved for foreign actors under actual Western sanctions.

I think these methods will spread to other Western countries, so dissidents will need to be prepared to de-bank themselves before the government does it, meaning that those organizing dissident activities should at the very least keep their savings where they can't be frozen at the order of a police state.

[highplainsdrifter777]

Global Boiling Bullshit

NOBODY is doing anything about global warming.  IF the world is getting hotter we are fucked.  They are talking about cutting farming to prevent CO2, meanwhile, the industrial machine is pumping faster than ever designing products to break easily and be disposable so you have to repurchase them. Instead of making things upgradeable and lasting the world is worried about profit. 

Nobody is calling for a halt to making lithium batteries for cars, with no plan to recycle them or dispose of them properly. No one is calling people to stop buying frivolous shit on Amazon from China.  China is part of our world too. 

What they are calling for is a cutback on food production. They are calling for fewer people because the system is designed so that people have to depend on it to live and destroy the world. They know the easiest way to halt the system is to kill those they conditioned to do it.

Only 9% of all that stuff you put in your recycle bin actually gets recycled and if they do not sort any of it, it all goes to the dump anyway. 

I say stop worrying about producing food and start worrying about our engineering and design processes. Call for a ban on plastic garbage and $25 drones.  Schemes for electric vehicles and a failing electric grid they want you to charge it on. 

During the 1980’s we did start getting it right. We went thew a period where people were hesitant to buy plastic bottles to throw away. Bulk goods started taking off and people started reusing plastic bags. As things were getting easier and cheaper to produce the industrial machine was getting worried their supply wouldn’t sell.  This is when they financed and promoted the recycling scheme. Look into it. 

Recycling was put into place to make people feel good about buying shit they might throw out, but it doesn’t actually do anything. The resources that are put into recycling damage the environment. As a trucker, I remember hauling 30k pounds of recycled cardboard halfway across the US burning 250 gallons of diesel just to get it there. Recycled material can be cheaper than new for production, but is a very very small amount of what we throw out. 

So when they talk about Global Boiling and tell you to take action to stop it, look at what they are telling you to do.  I guarantee someone is going to get rich on it. People will starve, and life will get a lot tougher.  The plastic shit you buy on the internet will give you no pleasure when you are starving. When your days are spent looking for food, there will be no more time left to advocate for change. 

What can you actually do to help fix the world? Stop and think. Do not follow the agenda, and do not read biased articles. Think about the things that are actually polluting and ruining the earth and you will see someone is making money off it. 

[octagonsun]

Fire Emblem Fates: Trucker AU

trucker au where nohr and hoshido are rival shipping companies nohr specializes in difficult routes, rural deliveries, places like Alaska, while Hoshido has a bigger operation running agricultural supplies. xander, ryoma: next-in-line for CEO. handle clients, logistics, finances, and planning. / camilla, hinoka: operate the biggest of rigs. / leo, takumi: special jobs with specialized gear. Leo…

[artisticdivasworld]

Financial Survival Tips to Help New Owner-Operators

We are starting a new series here on the blog. We want to talk to and help new owner-operators understand what exactly is involved with running a trucking business. We have identified 10 areas that cause issues for new owners, so we will address each one individually here. Since FRC was founded to help independent truckers succeed in an unfriendly economy, we hope that by talking about each of…

[joshhamilton11]

Facing An Audit: How Trucking Businesses Can Prepare For The IRS

Facing an IRS audit can be daunting for trucking businesses. Preparation is key. Maintain thorough records of income, expenses, and mileage. Organize receipts and documentation meticulously. Seek guidance from a specialized trucker tax accountant to navigate the process smoothly. They offer expertise in tax compliance and can provide invaluable support in ensuring all necessary documentation is in order for the audit.

[kaidatheghostdragon]

I see the replies saying danny is a small-town boy with no concepts of expenses in the big city, and raise you that this is a deliberate image he is projecting. Lots of headcanons abound that jack and maddie scare away the irs. Danny would learn from them. Sam and tucker probably learned from them. Sam would be interested in finances because its the most straightforward way to uncover corruption. Tuckers hacking skills would give sam a way to access and investigate any suspicious organization.

Jack and maddie are engineers and good with numbers. Jack is often headcanoned to be autistic, which i think is where the headcanon comes from that he'd be an excellent rules lawyer. Translate that to finances, they would definitely be smart enough to recognize how to enact the most common types of fraud, and how to improve on it to mask it well enough to get away with it. Do they actually employ and fraud strategies? Eh, probably only against Acceptable Targets(tm).

Point is, danny has a buttload of money that he wants to circulate without looking suspicious. That's essentially the prime goal of money laundering, and he knows all the tricks of the trade courtesy of his chaotic-good aligned parents teaching him What Not To Do With Finances (Unless He Can Get Away With It).

Essentially, you own a business, in which you inject money alongside legitimate income, then as the owner of the business, you make a profit from both the real and injected income, which you can spend as clean money because the source is traced to the business.

1. Underpricing goods sold is a common strat. Danny can pad the numbers with a few extra bucks of his own, so they look like normal prices in the financial record.

2. The homeless population eat free, as long as they dont scare off paying customers with their smell and grime. They're still wrung up, but danny pays the entirety of the bill with the 'dirty' money.

Some of the paying customers complain about the smell and uncleanliness of the homeless patrons, so danny ends up building a community shower in one of the back rooms so he doesnt have to turn anyone away. Danny's from the midwest, where trucker stops are common, so his cafe is designed around that sort of concept: showers and self-care in the back, ready-made to-go meals and snacks out front, sit-down cafe to one side, overpriced souvenirs on the other.

3. Community showers are free, but the number of uses is logged. In the financial record, they are a paid service with associated expenses. Danny logs each use as a transaction, in which he pays the bill with his own 'dirty' money.

4. Danny starts a pay-it-forward wall filled with prepaid receipts for various food and drink items that anyone can use or donate to. 90% of the receipts are paid for with 'dirty' money as anonymous cash donations. Any spoiled food can additionally be paired to a pay-it-forward receipt, so nobody actually ate the spoiled food, and his budget doesn't look like he's selling more stock than he's ordered. The paired receipt can be thrown and replaced with a new donation.

Back to the self-care portion, it eventually expands into a thrift store laundromat combo, where the homeless can clean their clothes and trade them in for something more comfortable. Donations are appreciated, but danny just finds it easier to buy out the clearance rack at all the nearby stores.

Old clothes, if they're safe to burn, pad out the fuel for the barrel fire in the alley out back during winter. Is it exactly safe? Probably not, but surviving one more night is generally higher on people's priority lists than saving the environment, and the clothes would probably either end up in a landfill or get burned in an incinerator anyway, so danny considers it a wash.

5. The laundromat is treated the same as the showers, functionally free but financially paid for by danny.

6. The thrift store is treated as a non-profit side-venture, which, by its simple existence, allows danny a ton of tax write-offs. Trade-ins that are too worn out to resell are treated as a cash donation (again, danny's money), which is used by the nonprofit to buy out the clearance racks of nearby stores, legitimizing the charity. Danny makes money via the tax write-offs on the cafe business for financially supporting the nonprofit.

Inspectors are the worst. Every last one of them in gotham is corrupt, demanding bribes before passing inspection. Counterfeit money is common in gotham, and danny accepts it because he can trade it out for his own money, though he carefully records where it came from in case anyone comes asking. The counterfeit bills, instead of being tossed, pay the inspectors' bribes. They wanna work outside the law, danny is happy to oblige.

7. Any counterfeit money that is replaced by his own is essentially doubled. Using it to pay illegal bribes makes it much less traceable, as the inspector is not going to declare illegal income. If the inspector is caught with fake money and outs danny, danny will out them for bribery. Its mutually-assured destruction, in which danny is confident he'll come out on top because at least he's genuinely helping people, which he's certain is all the bats really care about considering red hood's whole deal, and the bats are pretty much the final say in gotham.

Ngl this is a short one.

So Danny comes to Gotham. Down on his luck. But lo and behold, he still has access to the kingly vaults! He doesn't have to worry about money!!! He can just buy a small apartment and live out his miserable little life In luxury!

But then he is stopped on a horrible and a dark stump in his plan. How in the 7 hells is he gonna explain it to the IRS ??????

Money laundering????

Can't he just say he found a mysterious big pile of gold and be done with it?

No, Danny . How are you gonna explain the fact that you keep finding mysterious little gold files to the tax man . Jazz says emphatically through a video call . Which is a multi dimensional cuz I can't explain why sam wont just give him the money. And btw the just assume that the vaults has a magic function to give the money to him in the local currency.

Sso from that day onwards Gotham had a new little cafe in a quiet little nook. The prices are super cheap. And it by far has the best fudge in all of Gotham. If you exclude Alfred's.

The gothamites love it. It's a favorite college hangout. Everyone is pretty sure the cafe is a front. Everyone is 100% sure of it. But in this economy who the hell cares. At least it's not nfts.

People can actually benefit from this because we can get like a whole breakfast for like 4 dollars ( an au where like Danny's 2000s world is like super cheap compared to the modern Gotham city and nobody taught the poor boy common prices of this world. Danny's thinking like how do I keep accidentally going into these rich people stores with their ridiculous prices, Ughh guess I'll have to buy this I don't want to go farther) and the quality is good too. The scrawny little twink owner sure as hell does not know much about ingredients prices or did the bare minimum study of business.

Anyway when the bats came sniffing (the scrunkly little guy was innocent blame Fenton luck) and we'll tried to interrogate the owner people actually chained themselves to the front like the worlds most confused save the trees activists.

[head-post]

Romania, Bulgaria to fully join Schengen area from January

Romania and Bulgaria would join Europe’s borderless Schengen area completely from January 2025, Romanian Prime Minister Marcel Ciolacu announced.

European Union and NATO members Romania and Bulgaria entered the 29-nation Schengen area by air and sea in March after reaching a partial agreement with Austria. However, negotiations on land entry continued until 2024.

Land borders are a major challenge for the two countries. According to the Romanian road hauliers’ union, truckers typically wait eight to 16 hours at the border with Hungary and 20 to 30 hours at the border with Bulgaria. Meanwhile, in Bulgaria, truckers wait in queues at the borders with Greece and Romania.

Romania believes the country loses 10 billion euros a year, as it is not a full member of the Schengen area, whereas Bulgaria says its economy lost 1 billion euros last year.

The European Commission has maintained for more than 10 years that Bulgaria and Romania fulfil the conditions for joining the Schengen area, but since the decision to admit new members must be taken unanimously, there has always been one or more countries blocking the enlargement.

The interior ministers of Austria, Romania and Bulgaria will meet in Hungary on Friday. Hungary holds the EU Council presidency, having made Schengen enlargement one of its priorities. Ciolacu stated:

The meeting on Friday is very important, that is why I agreed with Hungary’s prime minister I will go to Hungary … on the day interior ministers get together to close the final document. But we already have an agreed calendar. It will happen from 1 January 2025. Those who come home for the holidays will leave much easier after.

The Finance Ministry estimates that joining the European open borders area will add half a per cent to Romania’s annual economic growth.

Read more HERE

[newsnigeria]

Is Bitcoin currently for everyone?

The harsh reality is that Bitcoin isn’t for everyone, at least not yet. Do you remember the first time that you heard about Bitcoin? It’s likely you had one of three reactions. You either flat-out ignored it, called it a Ponzi scheme, or even considered it to be some fake internet money that would never amount to anything. This is the reaction that most people have upon first hearing about Bitcoin. In fact, almost no one becomes interested in Bitcoin or can even understand its value or appeal the first time that they hear about it. There is a popular theory in the Bitcoin market that the transformation required for a no-coiner to go from knowing absolutely nothing about Bitcoin to hearing about it for the first time, to finally investing in it takes at least 3 interactions with it. Either hearing about it from a friend or family member, seeing it on the news, or even having a life experience that forces them to learn about it. Recent experiences such as the banking crisis in the US, and also record inflation caused the value of our savings to seemingly disappear overnight. People who were affected in these situations were forced to finally learn about Bitcoin. After you have completely fallen down the rabbit hole of Bitcoin, there is no going back. You view it as the future. Not only will it help to change the world, but it will also help to change our lives financially as well. You also begin to want to help Bitcoin grow and help protect the future of the people we know. This is why so many of us try to teach our friends, family, co-workers, and acquaintances about Bitcoin. On the internet, Bitcoiners are often truly excited and generous with their time to help people who want to learn about Bitcoin. We love to say that Bitcoin is for everyone, and that is true; but not yet. The truth is that in the current world you either need to have one out of these three qualities to be interested in Bitcoin. The first is that you need to be open-minded or curious. Most of the people who first got into Bitcoin were willing to listen to new ideas, and open-minded to what the future could hold. They were willing to take a chance on something as risky as Bitcoin, which had no guarantees. Being able to see how much potential it truly had. The second mindset that you needed to have was to be interested in finance and investing. Unfortunately, while Bitcoin was much cheaper, not that many people actually knew about Bitcoin. It was only the curious, cypherpunks, or people who kept up to date on everything happening in the finance and investing world. Once these people became aware of it, they still needed to have an open mind to be able to see its potential and begin investing in it. Most people simply aren’t thinking about money or investing and are simply oblivious to Bitcoin. Finally, the last thing that you needed to have to get into Bitcoin was a real financial emergency that happened to you. People who live in countries that have seen hyperinflation instantly were able to understand the value and importance of Bitcoin. When banks around the world began collapsing, a whole new group of people were able to understand Bitcoin. When the conflict between Russia and Ukraine broke out, more people learned, and the same with the Canadian trucker crisis as well. The sad truth is that most people won’t actually learn or become interested in Bitcoin until they really need it. There will come a time when having Bitcoin isn’t thought of as an investment or even a high-risk asset. There will come a time when it is thought of the same as holding cash. When stores are accepting it, people don’t even need to think about it. That is the time when Bitcoin’s protocol will have progressed to the point. Bitcoin at this point will have already caused the largest transfer of wealth that the world has ever seen. Only then, will Bitcoin be for everyone. -Caroline Sherman Read the full article