Business Loans vs Invoice Factoring: Which is Best?


Anyone looking for a financing solution might be wondering if a business loan or invoice factoring is the better choice. Before you decide, it’s important to understand the pros and cons of each type of financing solution.Business Loans vs Invoice Factoring

What are Small Business or Term Loans?

A term loan or small business loan is one of the most popular types of financing for small businesses. You might get a business loan from a bank or from the Small Business Administration. This loan comes in a lump sum and must be paid back with interest. When considering a term loan, it’s essential to be familiar with the conditions, including the amount of time you have to pay it back and the interest rates. You may want to look into various loans and identify one that has the most favorable terms.

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Tax Deductions For Owner-Operator Truck Drivers


Tax Deductions For Owner-Operator Truck DriversTruck drivers who are owner-operators are responsible for paying their taxes. This means you need to keep accurate records of your deductions as well as your earnings. If you don’t deduct all your expenses, you could end up paying significantly more taxes than you need to. 

Let’s look at some important and often overlooked tax deductions that owner-operators for trucking businesses can claim.

Tax Deductions for Trucking Businesses

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What to Look For When Choosing a Fuel Card


A fuel card can help your trucking company save money. They also provide a convenient way for drivers to pay for fueling. If you decide you want to use a fuel card, you have many choices. Let’sfuel card for trucking company look at how to compare fuel cards and find the one that works best for you.

The Advantages of Using a Fuel Card

The main reason for trucking companies  to use a fuel card is to save money at the gas pump. With energy prices fluctuating and the prospect of higher prices, a trucking business needs to save money in every way possible. Fuel cards offer cash discounts as well as rewards based on usage. Read more

Basic Accounting For Trucking Companies


basic accounting for truck driverOwners of trucking companies may not have a background in finance, but it’s important to have a  basic understanding of accounting. Even if you have a professional bookkeeper or accountant handling your books, you should be familiar with basic accounting terms and principles. This knowledge will help you understand the health of your business and warn you of problems that may be on the horizon.

Accounting Terminology You Should Know

In order to better understand your finances, it helps if you’re familiar with the terminology. The following are some accounting terms that are relevant to your business. Read more