The Eisenhower Highway System changed America. Prior to the construction of this network of freeways, our economy was more localized and dependent on local sources for consumer goods. Now, heavy trucks deliver consumer goods to market.
The primary issue that this industry faces is the cost of fuel. Fuel is the lifeblood that allows the engines to operate and generate revenue for the company. For the owner, he/she needs to understand how this one cost can change from day-to-day. Once you understand this, you can better grasp the tools to control this cost for your long-term financial success. This section of INDUSTRY STANDARDS is dedicated to educating and providing knowledge to the small business owner involved in transportation.
These articles are written to provide knowledge and guidance for the business entrepreneur. They are generally longer than 1,000 words in duration and often exceed 2,000 words. In business, I have learned that you can not just deal with a problem with some short and quick answer, it doesn’t work that way. There are many variables involved and as such it takes time to understand these variables and how they interact with each other. Take your time to read these informative articles and use the information to assist you in reducing costs and generating more revenues. Remember business is about personal success in the form of financial gain and reduced stress. Act on Knowledge.
Value Investing Episode 1 – Introduction and Membership Program
On December 6, 2013, the Internal Revenue Service announced the mileage rate deduction for 2014. They reduced the amount allowed one-half a cent to 56 cents per mile. How do you calculate and use the mileage rate formula for tax purposes?
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 underlying elements to truly appreciate and comprehend the calculation.
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. How do you calculate and use the mileage rate formula for tax purposes?
One of the industries in the transportation sector is materials hauling. This is your dump truck industry. All of us see these trucks out on the highway usually hauling gravel or dirt. To profit well, efficiency is the primary business principle. Lack of efficiency drives up fuel costs, loss of time in hauling; increased maintenance and repairs, and finally customer dissatisfaction. This article is an introduction to this industry as a part of the transportation sector of our economy.