Guides and updates on trucker taxes, Form 2290 HVUT, IFTA filings, business expenses, and financial tips for owner-operators.
What your S corp K‑1 actually tells you For many owner-operators and small carriers running as S corporations, Schedule K‑1 from Form 1120‑S is the roadmap of what flows onto your personal return. The K‑1 reports your share of the…
Short answer: Yes—business payments on Cash App can be reported to the IRS If you use Cash App to accept payments for loads, detention, lumpers, or other business services, those transactions may be reported to the IRS on Form 1099‑K.…
Why this matters now Colorado’s Department of Revenue has refreshed its Individual Income Tax Glossary, clarifying how residency, apportionment, withholding, credits, and penalties work for 2025 returns. For owner-operators and fleet managers with drivers crossing state lines or operating Colorado…
What changed — and why it matters to trucking The IRS issued Revenue Ruling 2025-4 on January 15, 2025, clarifying how federal income and employment taxes apply to state paid family and medical leave (PFML) programs. In response, Massachusetts’ Department…
Why this matters to trucking When severe weather or other disasters shut down lanes, depots, and customers, the financial aftershocks often hit small carriers and owner-operators first. The National Taxpayer Advocate (NTA) page at the Taxpayer Advocate Service (TAS) highlights…
A giant wing on wheels — and a bold efficiency claim In the mid‑1980s, a Utah startup tried to rethink the Class 8 tractor by turning the cab itself into a lifting, low‑drag shape. Marketed first as the Pegasus Cab…
Why this matters for owner-operators and fleets For small carriers and independent drivers, the difference between a solid tax plan and an avoidable penalty often comes down to clarity. EinsteinOption.org, a site focused on policy and practical guidance, says it…
Why this matters to fleets and owner-operators Two developments could affect your bottom line and how you handle tax disputes and fuel budgeting heading into 2026: the IRS is expanding alternative dispute resolution (ADR) options for tax controversies, and Indiana…
Why this matters for owner-operators and fleets A short explainer video making the rounds asks a good question: What is “official IRS guidance,” and why should you care? For trucking businesses, the answer drives real dollars—think meal per diems for…
Why this matters to owner-operators and fleet managers A new Journal of Accountancy podcast features Melanie Lauridsen, the AICPA’s vice president for Tax Policy & Advocacy, unpacking three hot-button issues that directly affect small trucking businesses: the impact of a…
