Why this matters now A new livestream titled “Trucking & Taxes, IRS debt solutions” put a timely spotlight on owner-operators and small fleets navigating back taxes, penalties and cash flow at year-end. With 2025 mileage and per diem figures set, and IRS collection activity normalizing, it’s a good moment to…
CALIFORNIA FLASH FLOODING SOAKS ROADS; WATER RESCUES AND 1 DEATH REPORTED Heavy rain in Redding and surrounding areas inundated highways, triggered multiple vehicle rescues and left at least one person dead, with more storms expected this week. Truckers should anticipate localized closures and delays as saturated corridors are cleared. OFFICIALS…
What a K‑1 from your S corporation actually means If you operate under an S corporation, Schedule K‑1 reports each shareholder’s share of the company’s income, deductions, credits, and other items. That income passes through to your personal return whether or not you took cash out. Crucially for many owner‑operators,…
WEST COAST ATMOSPHERIC RIVERS AND NORTHEAST WINTRY MIX THREATEN HOLIDAY TRUCKING AND AIR CARGO FLOWS THIS WEEK A series of Pacific storms will dump heavy rain and high-elevation snow from Northern California through the Pacific Northwest, while a light snow/wintry mix brushes the Great Lakes to New England—raising risks of…
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 S corp’s income, deductions, and credits; the corporation files a…
FRA CAPS NON-ENGLISH RAIL CREWS AT 10-MILE BORDER ZONE DOT extends its English proficiency crackdown to cross-border rail, limiting Mexican train crews to 10 miles inside the U.S. and warning of enforcement if communication standards aren’t met. UNION PACIFIC AND NORFOLK SOUTHERN FILE HISTORIC RAIL MERGER APPLICATION UP and NS…
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. As of December 2025, the federal reporting rule has returned…
UNION PACIFIC, NORFOLK SOUTHERN FILE HISTORIC STB MERGER APPLICATION The railroads formally submitted a comprehensive plan to the Surface Transportation Board to create the first coast-to-coast U.S. freight railroad, a move that could reshape intermodal flows and competition with trucking if approved. BNSF CEO SAYS UP-NS RAIL MERGER REMAINS A…
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 lanes, these definitions drive filing obligations, estimated payments, and planning…
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 of Family and Medical Leave (DFML) released guidance aligning its…
