Transportation Accounting Services
No Stress Accounting Services
How We Do Our Work:
We start with auditing. We gather information about the company from the following categories:
- Industry - We use our own experience and knowledge in a specific industry and combine it with a company’s current situation. By doing this we have the possibility to find ways to improve the company’s financial standing, and our experience gives us the skills to do it fast and simply.
- Reality of Company’s Status - We analyze the realities of the company’s activities and look into the ways we could improve the situation
- Owner’s Expectations - We take note of an owner’s understanding of a company’s current situation, compare it with what we see in the company’s financial and tax statements, and make a plan on how to reach the desired outcome for the company
- Bank Expectations - We make a system that will be easy to understand by banks and loan officers.
- Government Agencies - Through our financial system, we make it possible to find ways for tax optimization (reduced tax), and we make our finance reports easy to understand by the taxpayer and government agencies.
- Safety - We go over the company’s safety policy and give our expert’s advice on improving it. We work with many transportation companies, so we have an understanding of what works best and how to do it; therefore, we are happy to share this information with our clients.
Continuing the topic of the transportation industry, it should be mentioned, that our services have helped many owners raise profit of their company just by using our services and experience. We organize the accounting system for them in a way, that it becomes possible to measure next indicators:
- Cost per mile - now you’ll know if the round trip will be profitable for your company, BEFORE you send your truck for the first pick up
- Income and Expense per truck
- Income and expense for office/shop
These indicators give an opportunity to make decisions, of forgoing loss-making trips or trucks, before even accepting or starting the trip. They start to influence the company's financial position, which does wonders for the company’s profitability.
With rising fuel costs and increasing competition, it's becoming more important than ever for transportation and logistics companies to focus on the basics: growing their business, reducing risk, and planning for the future.
Every day, the No Stress Services Transportation & Logistics Practice helps clients address these challenges and more. Our dedicated team has a deep understanding of how transportation and logistics companies operate.
Although some companies still rely on internal bookkeepers to keep their books and records, a large number of businesses have turned to a more cost effective solution to manage their bookkeeping through outsourcing.
Outsourcing your bookkeeping can eliminate problems that are created by resignations, retirement and illness, which are inevitable with in-house employees. From Accounts Receivable to checkbook reconciliation, outsource it all at a fraction of the cost of hiring an internal bookkeeper.
At No Stress Services, we go the extra mile when it comes to serving clients in the transportation and trucking industry. Our services include bookkeeping, tax, technology and management consulting. Our professionals combine their individual expertise to serve our wide range of transportation and logistics clients: Trucking, General Freight, Flatbed and Box TL, LTL, Bulk Commodity Dump, 3PL, Heavy Hauling/Permitted Loads, Moving and Warehousing. The Transportation and Logistics Industry Group meets on a regular basis to review and analyze issues central to this industry. As a result, our Transportation and Logistics professionals possess the most current knowledge of transportation issues, regulations and trends. We work with you to seek innovative ways to reach your strategic goals.
Having an experienced transportation accountant is of utmost importance when it comes to maintaining a profitable business in the transport industry. No Stress Services Inc. offers accounting, tax and IFTA services to both small transportation businesses and medium corporations—providing industry specific knowledge to lower effective tax rates and increase profitability.
No Stress Services CPA provides tax analysis and planning to minimize tax liabilities and regular financial statement preparation so that you always have a clear picture of your business finances - which can be implemented into your business planning. All of our services are designed to help your business implement proper cash flow management and increase your profit.
Our transportation accounting services include, but are not limited to:
Accounting and bookkeeping
Financial statement preparation
Working with brokers and Factoring companies.
Cash flow management
Strategic tax planning & local tax incentives
Tax preparation to minimize liabilities & maximize returns
Payroll services & taxes
Financial reviews and compilations
IRS audit assistance
Want to discuss the needs of your transportation business? Give us a call at 916-597-0829 to schedule your free initial consultation with one of our transportation accountants. We look forward to speaking with you!
Accounting for Truckers
Today I would like to talk about a very interesting, profitable and popular segment of modern economy—the Transportation industry and truck driving. In my experience, it is mostly consisting of dispatch, truck driver and owner-operator positions. This is one particular field where you don’t have to pay for an expensive, extended education and still make some good money dispatching, driving a truck or being a truck(s) owner for a living. Let’s discuss the aspects of the trucking business and what our company can do to help truck drivers, owner-operators and trucking company owners. With our help, companies, whether big or small—or even if you don’t have a company and will be using our help for your personal needs—are able to evolve faster, survive the industrial crisis, have less financial and administrative struggles and get out of sticky situations faster and easier. Often we see people working hard for years, seemingly making a lot of money, but in reality they do not have anything for themselves aside from loans and fees to pay. Those people use our help to learn how to budget their finances correctly, in a way that will be most effective in order to avoid a lot of stress and always have enough for not only bills and fees, but also some extra for their own needs. Living a healthy financial life goes a long way and takes a lot of burdens off our shoulders.
If you are a truck driver, we can help you prepare your Tax Return because we know exactly which expenses you can write-off and how, and which ones you shouldn’t be attempting to write-off, because the IRS has a lot of different rules and aspects to pay attention to, and the rules tend to change. If you decide to buy your own truck, we can tell you about the obstacles you may run into and what to expect, about certain things to be aware of when choosing a dispatch company and how to do it best; also, what in the long run will be the best case scenario for you personally—buy a new truck, lease one, or buy a used truck and fix it up.
Or, if you are a truck owner, or you have 1-2 trucks, our company has a Full Cycle Service for Administrative and Accounting paperwork; we help you Register your truck, get an EIN, fill out your IFTA, get your Permits, undergo DOT Safety Audits with no obstacles, get a loan to buy another truck, Payroll, etc. We prepare Financial Statements—those statements are used to calculate how good exactly your business is doing, and what should your next step be. For example, you have a van truck, a reefer and a flatbed. The Financial Statement will show, which branch of your business is the most successful, you will know what area to grow not just based on your own feelings and best guess, but on real, exact numbers.
Next, if you have a small dispatch company, for example; or if you find loads for your trucks without anyone’s aid and have about 4-10 trucks in your possession, you can take the load of paperwork off your shoulders and trust us with it (invoicing, registrations, permits, payroll and all other administrative and accounting needs) and concentrate on what you do best. It really will help your company to grow, because you will finally have time to focus on the most important things, while the boring, mundane things will be handled by us. We have a lot of experience working with brokers and factoring companies, we know what it takes to get things done well and prompt, most of the time the companies that hire us get their money faster and spend less time and money dealing with factoring companies rather than the companies who try to handle everything by themselves.
Now, if you are a dispatch company owner, or if you have more than 15 trucks: we have a CPA (Certified Public Accountant) in our team to take care of your accounting needs, but aside from that, we also help with operations and keeping your business running smoothly. We will make it easy for you to see exactly how effectively everyone and everything in your business is working, starting with the dispatchers, ending with the mileage on your trucks per say, how much effort is everyone really putting in, and what could be improved. We will help you budget your expenses in order to get the max tax benefits and utilize the opportunities that the Corporate Law presents you with.
Finally, if you are an owner of a company that services the Transportation industry—either a parts store, or a truck repair shop—we will help you keep your books in order, clean, clear and profitable. We can help you get any licenses you may need, will organize your paperwork and rid you of routine administrative work for the most part. We will help you analyze the Financial Statements and calculate how profitable your business is, and what part of it you should be concentrating on in order to get the best results in growing your business and making it more successful.
Our service is unique, because you can get the whole packet of financial and administrative services in one place—or just choose the ones you think you need the most. We have gathered a team of specialists of various profiles that have one goal and are in one place. No Stress Services will happily help you in this cutthroat world of business and will take most of your worries away.
We can do extra:
Quarterly IFTA & Mileage Reporting
- CA Full Year Commercial Registration
- Original and Supplemental IFTA License and Decals
- IFTA Account Set-Up
- NY, NM, OR, KY Permits
- Monthly & Quarterly Oregon Mileage Reporting
- Oregon Bonds
- Kentucky KYU Number
- New Mexico Tax Credential
- New York HUT