Recent Articles

Transportation

This term is used for all tractors, trailers, trucks, autos, and other forms of transportation items (aircraft, marine, and rail cars).

Bookkeeping – Other Transportation Costs (Lesson 63)

07/08/2017

There is much more to transportation with bookkeeping than accounting for vehicle operations, addressing mileage reimbursements or tracking auto costs related to owners and family members.   Bookkeepers must track the following too: A) Parking [...]

Bookkeeping – Mileage Reimbursement (Lesson 61)

07/04/2017

Some small businesses manage transportation costs in incremental payments by utilizing mileage reimbursement.   It is a very advantageous system if used correctly.   Other small businesses augment their existing vehicle fleet by paying employees [...]

Mileage Deduction – Rate for 2015

01/01/2015

On December 10, 2014, the Internal Revenue Service announced the mileage rate deduction for 2015.  They increased the amount allowed 1.5 cents to 57.5 cents per mile.  So how do you calculate and use the mileage rate formula for tax purposes?  If [...]

Cost per Mile – The Basic Formula

03/17/2014

In any industry, especially transportation, it is essential for the owner of a business to understand how much it costs per mile to operate his vehicle, trucks or fleet.  The formula looks simple and in reality it is; but you must understand the [...]

The Fixed Assets Section of the Balance Sheet

09/24/2013

The fixed assets section of the balance sheet is one of the easiest sections to read and understand.  This article is written to describe and illustrate some simple examples of the fixed assets section.  I am not teaching the reader about the [...]