Crunching Numbers

[SquareOne]

^^--- I've read that thread probably 10 times since I've been on this forum lol. Good info. Overcomplicating typically gets people into trouble, so you're looking for simplicity. I always find it funny when I get to the part about a people claiming they made '0' year in and year out. I have plenty friends who do this with commercial fishing because of 'how good their tax person is,' yet those same friends have many toys, nice home, and drive vehicles with big notes... (that 35k side by side on 40in tires is NOT being used for you business lmao!)

Of coarse, there's no use trying to explain or give any advice to someone with ^that^ mentality. The bottom line really is this--- If you earn more than your expenses at the end of the year (profit), Uncle Sam wants his portion of that profit!

- Evo, are you leased to a company or an independent O/O? Do you keep track/pay your own IFTA, your fuel, etc.?

I decided to use a software which works for me for not only keeping a tight PnL ship, but also greatly helps with IFTA as well as invoice creating. Being this is still only 9.5 months into my first year of O/O, I wanted to use a program which would cover as much as my needs as possible. I wanted to be sure the accounting side was up to par so I could focus on the compliance side of things. <------ Figured I wouldn't have any numbers to input anyway if I get put OOS because of my compliance ignorance...