Roughly 64% of American workers receive a W-2 form for tax purposes. This includes truck drivers who drive for a company and receive a regular paycheck from that company (that company that owns the truck and withholds taxes from the paychecks). The other 36% are independent contractors who receive a Form 1099. A 1099 for…

You’ve always dreamed of starting a trucking company, so you decided to purchase a truck. That’s all there is to it, right? Far from it! Starting a trucking company involves a lot more than buying a truck, but it’s a good start. Whether you are content with a simple owner-operator scenario (just you and one…

Without rules and regulations, many activities could devolve into pure chaos. Referees, for example, maintain safety, order and fairness during sporting events. But not all arenas require the same level of regulation and oversight. While a youth flag football game typically requires only one referee, NFL games are more complex, requiring seven on-field officials. In…

Every year, the IRS requires all heavy highway vehicle owners to file Form 2290 to pay the Heavy Vehicle Use Tax, or the HVUT. This additional tax funds maintenance and repairs on roadways commonly used by truckers and other heavy vehicle operators. When users get their Form 2290 accepted, the filing is confirmed through distribution…

IRS Form 2290 is used to file and pay the Heavy Vehicle Use Tax (HVUT) for vehicles that weigh 55,000 pounds or more and operate on public highways. The HVUT is an annual tax, typically due by August 31 for vehicles used in July. The standard HVUT amount related to the 2290 Form cost is…

It takes time to adapt to a shift in employment or pay structure. Whether shifting from being paid hourly to salary or switching from salary to commissions, it can be difficult to adjust. Similarly, there is a significant financial shift from being a company driver to an independent owner-operator, with the most significant change being…