There’s an old saying that reminds us “time is money” – whoever coined that phrase was likely talking about an owner-operator in the logistics industry whether they realized it or not.

When taking on work, it’s important to acknowledge that not all jobs are created equally. If you have two tasks ahead of you with both requiring you to drive 100 miles, one could still be profitable while the other is woefully inadequate. This is because different factors determine your owner-operator cost per mile.

Understanding what those factors are – and how to calculate that cost before you take the job – is the key to making the most profitable decisions possible when it comes to your career.

How Much Do Owner Operator Truck Drivers Make?

Owner-operator truck drivers can earn between $150,000 and $300,000 annually, depending on factors such as freight type, distance traveled, and operational efficiency. Actual earnings vary widely based on market conditions and individual business strategies, but the role offers significant income potential for those who manage their operations effectively.

Why You Should Calculate Your Cost Per Mile

One of the biggest reasons why you should always calculate your owner-operator cost per mile is because it helps you remain profitable. If you know how much you’re spending to drive one mile on an average job, you know whether your rates will actually be able to cover your expenses. Not only do you know how much of a profit you’re making, but you also have actionable information that you can use to increase those profits as much as possible.

Having said that, knowing your owner-operator cost per mile also helps to keep you competitive. You can strike that delicate balance between making as much profit as you can and making sure that your rates aren’t set so high that you have a hard time getting attention.

Beyond that, knowing your owner-operator cost per mile is all about the foresight it gives you. If you know how much you’re spending per mile, you can focus on things like route optimization, for example. You can also concern yourself with better budgeting and planning, all of which will help make sure that you’re operating as efficiently and as cost-effectively as possible. This is in comparison to owner-operators who don’t know their cost per mile, who probably end up spending a lot more than they realize on an average job.

Factors That Determine Cost Per Mile

Many new owner operators in particular make the mistake of assuming “cost per mile” and “cost for gas” are the same thing. In reality, that is just one small part of a much larger story. Other critical factors that you must track include the following.

Travel Distance

Obviously, one of the main things you’ll want to look at to determine your cost per mile is the travel distance. Believe it or not, short-haul trips usually result in a higher cost per mile because a lot of the fixed costs you’re dealing with, like insurance, are distributed over fewer miles.

Weight & Dimensions of Shipment

Heavier loads will typically be associated with a higher cost per mile because they require more fuel, more of your time, and sometimes even specialized equipment that ends up being more expensive.

Freight Classification

Freight that is of a higher freight classification tends to be bulkier, more fragile, or just more difficult to handle. This will increase the amount of time it takes to move them properly, which will ultimately raise your cost per mile as well.

How to Calculate Your Cost Per Mile

Once you know which fixed and variable factors impact cost per mile, you can begin to calculate your own. You should do this before accepting or even bidding on a job so that you know exactly how much you can expect to make from it if all goes to plan.

Determine Expected Mileage

First, look at the route you’ve laid out for yourself and determine how many miles you expect to drive. Thankfully, this is something that can be done right online these days.

Calculate Your Fixed Expenses

Next, look at all the fixed expenses that you have that will not actually change depending on the length of the trip. These still impact your cost per mile because they still need to be accounted for. This includes but is not limited to things like any truck payments or leasing costs that are still outstanding, the amount you’re paying for insurance, and even depreciation.

Determine Your Variable Costs

Next, you can take a look at all your variable costs. These will always fluctuate based on the amount of miles you’re traveling, which is why you need to re-run these numbers with every trip.

Factors that would fall into this category include fuel because you can’t control (nor can you predict it). Any maintenance or repairs that are needed for the upcoming trip in particular would also qualify. As would tolls, fees, and any driver costs (like wages for someone other than yourself) that need to be accounted for.

Include Salary Expenses

Speaking of wages, always include your own salary (or the salary of someone else) in your calculation.

Calculate Cost Per Mile

Finally, you can get down to actually calculating the cost per mile. To do this, take the total fixed costs you have and add to them the total variable costs. Take the number you arrive at and divide it by the total number of miles you’ll be driving for this trip. At that point, you have your cost per mile, and you can set bids (and make other financial-related decisions) accordingly.

Start Optimizing Your Earnings Today!

Once you learn how to calculate your cost per mile (and use that information to your advantage), you can begin to explore other techniques that optimize your earnings – like freight factoring.

Also commonly referred to as invoice factoring, freight factoring is a type of financial service that allows you to sell your invoice to a third party to get paid immediately – all to free up cash flow so that you can devote the majority of your attention to the task ahead.

Just because you know how much your cost per mile is doesn’t mean a client will necessarily pay you on time. With freight factoring, you can take care of those outstanding invoices and spend less time collecting so that you can spend more time driving – which in and of itself is the most important benefit of all.

If you’d like to find out more information about how you can easily calculate your cost per mile as an owner-operator, or if you have any additional questions that you’d like to go over with someone in a bit more detail, please don’t hesitate to contact the team at Advanced Commercial Capital today.

Whether you’re brand new as an owner-operator or if you’ve been in the shipping and logistics field for many years, you no doubt know exactly how important it is to control your costs as much as possible.

Sometimes, the money you spend in the operation of your business is beyond your control – you can’t help the expense of that unfortunate unplanned maintenance on your truck, for example. But other times, you do have options, especially when it comes to the amount you’ll pay for fuel.

There are several fuel cards that owner-operators in particular should absolutely be looking into to help maximize their income in 2025.

What are Fuel Cards?

Fuel cards, as the name implies, are a type of payment that is used to purchase fuel (along with other vehicle-related accessories from the same establishment). Although personal users can buy fuel cards, they are often used by truckers and other professionals in logistics to help pay for expenses.

Types of Fuel Cards

As a logistics professional, there are a few different types of fuel cards to choose from depending on your needs. They include but are not limited to ones like:

Cost-Plus

Here, the price that you pay for fuel is determined by A) the base cost of fuel at the station you’re at, and B) an additional fixed markup added. If prices drop, you could pay less for fuel – but prices do fluctuate based on factors like the market.

Retail-Minus

With this type of fuel card, your provider works with a network of gas stations to negotiate what is essentially a discount. The “minus” is the amount you take off whatever the posted price is at the pump – that’s the amount you pay for gas. The downside is that if gas prices are already low, the discount might not be quite as significant.

8 Fuel Cards to Consider for 2025

When it comes to fuel cards, you are certainly not without your options. Here are the ones you should consider to help maximize your spending in 2025 and beyond.

Apex Fuel Card

This is one of the more popular fuel cards out there for truckers in particular because it is accepted at gas stations across the United States. The discounts it offers are known for being very competitive, too.

DAT One Fuel Card

If you’re a business owner with a fleet looking to help simplify fuel management across the board, the DAT One Fuel Card was designed with this in mind. It offers real-time pricing data and more.

Fuelman Deep Saver

This is a type of fuel card that was designed to help small and mid-sized businesses in particular.

Comdata

Comdata provides fuel cards to not only businesses that run large fleets but owner-operators as well. It is looked at very favorably among these demographics.

ExxonMobil BusinessPro

As the name implies, this is a fuel card that is designed to offer savings at both Exxon and Mobil stations across the country. Between the two, you’ll find the coverage quite significant.

Truckers Advantage Fuel Card

This is a type of fuel card intended for not just owner-operators, but small trucking businesses as well. It’s known for being easy to maintain, which is especially useful if you’re trying to get your enterprise off the ground.

Shell Fleet Navigator

This is a type of fuel card that is designed to offer very competitive discounts at Shell stations across the country. If you happen to be based out of an area with a lot of Shell stations, it’s certainly something you’ll want to look into.

Love’s Express

If you frequently shop at Love’s Travel Stops, you’ll know that there are always gas stations attached to them. The Love’s Express is a fuel card designed to offer discounts at those gas stations in particular.

How Do Fuel Cards Help Owner Operators Save Money?

Obviously, the number one way that fuel cards help owner-operators save money is through discounts on the price of gas. Depending on the time of year and the market conditions, the right fuel card could save you hundreds of dollars every time you go to the pump.

They prove invaluable in a lot of other ways, too – especially when it comes to how you run your business.

Simple Accounting

Especially if you’re new to the trucking industry, you understand just how complicated accounting can quickly become. Fuel cards help simplify at least this aspect of accounting by allowing you to easily track the amount of money you’re spending on gas in real-time.

Enhanced Security

Rather than carry cash or use a personal credit or debit card for gas purchases, a fuel card offers sophisticated protection against unauthorized transactions. At the very least, it’s a way to help mitigate the risk of fraud or other unwanted purchases, which will come in handy as you travel the country.

Additional Discounts

Sometimes, a fuel card will offer exclusive discounts on other items that go beyond simply giving you money off the price of gas. This can be a great way to save even more as an owner-operator than you otherwise would.

We Simplify Freight Billing

At Advanced Commercial Capital, we pride ourselves on our ability to simplify freight billing for owner-operators and others in the logistics field as much as possible. We do this in a number of ways, with freight factoring being chief among them.

With freight factoring, you give us your unpaid invoices, and we’ll give you most of the balance the same day. We’ll keep a small percentage as a pee, and work on collecting the full amount from the client. That way, you can preserve your cash flow and rest easy knowing that you’re being paid for a job well done.

If you’d like to find out more information about the best fuel cards for owner-operators to watch out for in 2025, or if you have any additional questions that you’d like to go over with someone in a bit more detail, please don’t hesitate to contact us today.

What is hot shot trucking? On the surface, it may seem like a fairly straightforward situation involving what is essentially expedited shipping. In reality, it’s slightly more complicated than you think and if you’re considering taking your career in this direction, there are a few basic things you’ll want to keep in mind.

How Does Hot Shot Trucking Work?

Hot shot trucking is a term used to describe the transportation of smaller loads, typically under 10,000 pounds in weight. These are usually loads that are time-sensitive, meaning that fast delivery is of paramount importance to clients.

What are Hot Shot Loads?

From a technical perspective, there is a lot of overlap between hot shot loads and less-than-truckload loads, otherwise called LTL loads for short. These get sent directly to their destination, rather than going through some type of centralized hub or terminal as would otherwise be common. These, too, are usually delivered with fast turnaround times and are inherently flexible – thus underlining the appeal to many companies.

Small machinery, parts, and other types of construction equipment would be a good example of a hot shot load. The same would be true of certain types of agricultural supplies, manufacturing components, and even oilfield equipment. If something breaks down in a manufacturing environment, those replacement parts need to get delivered quickly because literally every minute that machine isn’t working is a minute the business is losing money. But at the same time, they can’t wait for a traditional load – which is where hot shot loads come in handy.

The Hot Shot Load Payment Structure

The actual hotshot load payment structure will vary depending on the exact organization you’re talking about.

Because of the time-sensitive nature of what is taking place, sometimes they’re paid by the load. The rate will likely depend on the final weight and size of the load, as well as how complicated the delivery job is.

Some organizations that specialize in hot shot loads charge a flat rate that is calculated based on average distance and timing. Some charge per mile, and some charge depending on how long it will take that load to be delivered.

Again – it really varies depending on the provider you’re talking about, which is why you want to make sure you have all the facts in order before choosing a logistics partner to go with.

Hot Shot Trucking vs Expedited Shipping

At this point, you may be wondering how hotshot trucking is anything different from the expedited shipping procedures that many of us are used to. Keep in mind that hot-shot trucking is typically focused on smaller shipments that are urgent in nature. Expedited shipping, on the other hand, just guarantees that delivery will be “faster than normal.” This can still involve air transport or larger freight items, so long as the load gets to where it needs to be at the moment it was promised.

Best Hot Shot Trucks & Trailers

Hot shot trucking depends on vehicles that can deliver smaller loads quickly – meaning that there are a few different types of trucks and trailers that are ideal for such a demand.

Class 3

These trucks typically range from 10,000 to 14,000 pounds of gross vehicle weight.

Class 4

Class 4 kicks things up a notch, extending the aforementioned range from 14,000 to 16,000 pounds.

Class 5

Class 5 trucks would have a gross vehicle weight of between 16,000 and 19,500 pounds. They can handle larger loads but still fall firmly under the purview of hotshot trucking.

Gooseneck Trailers

Gooseneck trailers are often a popular choice because they have stability when hauling heavier loads, but better weight distribution in most circumstances.

Lowboy Trailers

Lowboy trailers, as the term implies, have a lower deck for safer transportation. Within the context of hot shot trucking, they’re typically used to carry loads that are larger or even taller but that still need to be delivered urgently and flexibly.

Bumper Pull Trailers

These are arguably the most standard type of trailer out there. They connect directly to a truck using a hitch on the rear bumper.

Tilt Deck Trailers

Tilt deck trailers are those that have been specially designed to tilt to a low angle. This makes loading and unloading much easier, making the entire trailer better for certain types of equipment. Remember that when things need to be delivered as quickly as possible, getting those items on and off the truck must happen fast, too.

Pros & Cons of Hot Shot Trucking

As is true with all types of trucking, hot shot trucking is not for every situation. Only by carefully considering both the advantages and the potential disadvantages will you be able to decide if it is a direction you want to go in.

Pros

By design, the biggest benefit that hot shot trucking brings with it is one of flexibility and independence. If you’re a hot shot trucker, you set your own schedule and often have more than enough work to fill your day. It’s a fast-paced field (again, by its nature) and is always in high demand.

You get to work with a wide variety of loads, which also leads to a potentially higher profit potential – especially when you’re just starting your career. Because of the time-sensitive nature of these shipments, you typically get to charge a rush fee. This can vary depending on the route and the type of equipment you’re hauling.

Cons

The biggest potential disadvantage of hot shot trucking, especially for those newer to the profession, has to do with the high operating costs that come with it. You have to consider fuel, vehicle maintenance, and insurance – all of which can add up quickly, even though you’re operating a smaller truck.

To make any type of real money in hotshot trucking, you also have to work long hours. This can include nights and weekends because you never know A) when an urgent shipment is going to occur, and B) how long you’ll have to wait for the next one if you turn the current one down.

Hot shot trucking is also known for being a field with heavy competition, largely due to the low barrier of entry. These are all things that should be considered moving forward.

We Simplify Freight Billing

At Advanced Commercial Capital, we understand hot-shot trucking and want nothing more than to help you succeed. We simplify freight billing so that you can worry less about the billing process itself and focus more on having the best experience possible. If you’d like to find out more information about hot shot trucking, or if you have any additional questions you’d like to go over with someone in a bit more detail, please don’t hesitate to contact the Advanced Commercial Capital team today.

What is a Carrier Packet?

At its core, a carrier packet is a collection of documents that any freight broker requires from a carrier BEFORE they can begin transporting freight. Essentially, it helps make sure that every variable is accounted for. Freight can’t begin its journey if there are still lingering questions about compliance or regulatory standards, for example. Therefore, a carrier packet confirms elements like these, along with the finer details of the entire business relationship, so everyone is on the same page before work begins in earnest.

What is Included in a Carrier Packet?

While the actual specifics of a carrier packet will vary depending on the entities that you’re talking about, a proper carrier packet will have several critical documents. These include but are certainly not limited to ones like the following:

New Carrier Information

This includes what is essentially an overview of the carrier in question, including elements like their name, address, contact information, and MC (motor carrier) number.

Broker-Carrier Agreement

This is a legally binding document that goes into more detail about the terms and conditions of the relationship between the broker and the carrier. This helps all parties understand things like liability, responsibilities, and other pressing matters.

Notice of Assignment

A notice of assignment is one that makes it clear to all parties that the broker has the authority to assign the freight in question to the carrier. Essentially, it’s a way to prevent any arguments that may occur over who is responsible for what.

W-9 Form

This is a document used for income tax-related purposes. It will have the carrier’s Taxpayer Identification Number, otherwise known as their TIN for short. It is mandatory for complying with IRS regulations.

Safety Rating

As a part of any proper carrier packet, the carrier will need to provide their safety rating. This is something that is assigned by the Federal Motor Carrier Safety Administration, otherwise known as the FMCSA for short. It’s a rating that reflects their overall safety performance and history as an organization, which can be the actionable information that brokers need to properly assess risk on their own terms.

Driver’s License

Whenever you’re talking about a situation like freight transportation, you obviously need to make sure that everyone involved is legally allowed to be on the road in the first place. This is why it’s important that any carrier packet also has a copy of the driver’s license for any and all drivers who will be operating the vehicles. If the vehicle transporting the freight requires any special skills or licenses to safely operate, this is also information that will be noted in this section.

Broker Bond

A broker bond is a critical document that shows the carrier has the financial backing needed to fulfill their obligations, essentially. It helps protect the broker from any potential losses that would happen if the carrier fails to complete a load or ends up defaulting on a payment.

If a carrier is chosen to transport a load and only later do you find out they were insolvent and didn’t have the resources to do so, that’s more than just a minor inconvenience. In this scenario, the broker would incur significant financial losses and reputational damage as well. A broker bond is one of the things that helps prevent that type of situation from happening.

Invoicing Procedures

In freight transportation, everyone needs to get paid, and it is in the best interests of all parties to make sure that happens as quickly and as smoothly as possible. Invoicing procedures are guidelines designed to guarantee precisely that, including information about how invoices should be submitted, what payment timelines exist, and any specific documents that will be required alongside the invoice to help things go as quickly as possible.

Certificate of Insurance (COI)

Also known as a COI for short, a Certificate of Insurance is exactly what it sounds like – proof that the carrier has all necessary insurance coverage for the task at hand. This goes a long way towards protecting both the broker and the shipper from anything that could happen during transportation, be it due to negligence or something totally unforeseen and beyond anyone’s control.

Certificate of Authority (COA)

Also commonly referred to as a COA for short, a Certificate of Authority is a document that shows a carrier is legally allowed to operate as a freight carrier. Again, this is a big part of how proof of compliance with federal and state regulations is established.

Why are Carrier Packets Important in Trucking?

Freight transportation in general involves an incredible amount of risk for all parties. Carrier packets are one of the biggest ways to help mitigate that risk as much as possible, especially in terms of compliance with various regulations. Well-designed carrier packets also help to establish trust, streamline operations, and more – creating a mutually beneficial situation for all parties.

How To Create a Carrier Packet & Standout from the Crowd

When putting together a carrier packet to stand out from a crowd, the number one thing you can do is be comprehensive and organized. Make sure that all necessary documents are included and that nothing is overlooked. Make sure everything is accurate, and your finished product should be as professional as possible. You should also be ready to provide any additional information as requested.

How Often Should You Update Your Carrier Packet?

Generally speaking, your carrier packet should be updated whenever there are any significant changes in not only regulations and compliance but also your business practices as well. If you no longer accept certain types of roles or are unwilling to fulfill certain duties in the relationship, that needs to be reflected.

It seems like a bit of a cop-out to say “Your carrier packet should be updated whenever updates are necessary,” but that’s largely a rule of thumb to live by. If your company name changes, you need to update your carrier packet. When you get new drivers, you need to update your carrier packet. If compliance changes, and you’ve had to make significant adjustments to show that you’re not in violation, you need to update your carrier packet.

Your carrier packet should always be updated and current to make sure that everyone has the most complete set of documents to work from moving forward.

If you’d like to find out more information about the important role that carrier packets play in the world of freight transportation, or if you have any additional questions that you’d like to go over with someone in a bit more detail, please don’t hesitate to contact the team at Advanced Commercial Capital today.

What is a CDL?

Also commonly referred to as a Commercial Driver’s License, a CDL is a type of specialized license that you need to operate any type of large commercial vehicle. This includes not only most large trucks, but also buses, any vehicle that carries hazardous materials, and more.

How Many Types of CDLs Are There?

The purpose of a CDL is to make sure that the driver has the specialized knowledge needed to safely operate the vehicle in question. There are a lot of different types of vehicles that require special skills out there – meaning that there is no “one size fits all” approach to getting your CDL.

Today, there are three main classes to choose from depending on your needs – Class A, Class B, and Class C.

What is a Class A CDL License?

If the vehicle that you’re trying to operate is under 26,000 pounds or won’t be towing anything over 10,000 pounds, you need a Class A CDL license.

How to Obtain a Class A CDL

To obtain a Class A CDL, you’ll first need to make sure that you’re at least 18 years old or are 21 if you’re planning on driving between states. You’ll have to pass a knowledge test that covers things like road signs and best practices, and you’ll have to go through a training program. After passing a skills test, you’ll be able to obtain your Class A CDL.

Salary Outlook for Class A Drivers

While the salary outlook for truck drivers in particular will vary wildly depending on what company you’re working for, where in the country you live, and other factors, truck drivers with a Class A CDL can typically expect to make between $45,000 and $75,000 per year.

What is a Class B CDL?

This is a type of CDL that allows drivers to operate vehicles that weigh 26,000 pounds or more, provided that they’re not towing anything heavier than 10,000 pounds.

How to Obtain a Class B CDL

The process for obtaining your Class B CDL is similar to that of a Class A CDL, with a few key exceptions. All the skills you need will be specific to Class B vehicles, so you can expect both the knowledge test and the training to be geared more towards that direction. Once you successfully pass your driving test while safely operating a Class B vehicle, you’ll be able to apply for your Class B CDL.

Salary Outlook for Class B Drivers

Again, this is something that will vary wildly depending on where you live, what type of vehicle you’re operating, and even how much driving you’ll be doing regularly. Typically, you can make between $35,000 and $60,000 per year as a Class B driver.

What is a Class C CDL?

This is a special type of CDL that allows drivers to have more than 16 passengers at a time, including themselves. This is also the type of CDL you’ll need if you’re going to be transporting hazardous materials or if you are behind the wheel of a vehicle big enough to require placarding.

How to Obtain a Class C CDL

As you would expect, obtaining your Class C CDL will require you to go through specific courses and pass a written test that has been customized for Class C regulations. Once you have the necessary training under your belt, you’ll be able to take that skills test. Once you pass, you can finalize your CDL application and submit it at any DMV in your area – the same as you can with the other types of licenses.

Salary Outlook for Class C Drivers

Because you’re specifically talking about transporting passengers, the salary outlook for Class C drivers is going to fluctuate depending on the industry you’re operating in. Keep in mind that school bus drivers or shuttle service operators need a Class C CDL to operate, too. Because of that, you can usually expect to make between $30,000 and $50,000 per year, once all other variables are accounted for.

What Are CDL Endorsements?

Again, not all commercial vehicles are created in quite the same way, and sometimes to get a job, you’ll need to show that you have additional qualifications beyond what a simple CDL license will provide.

For those situations, you have endorsements, which show that you can operate specific types of vehicles or carry certain types of loads. CDL endorsements can include but are not limited to ones like T, which is used for double or triple trailers, and H, which is used for hazardous materials. The N endorsement is also applicable to tank-based vehicles.

What Are CDL Restrictions?

Based on your skill as a driver or the type of vehicle you have experience working with, you could also find certain restrictions placed on your vehicle. A K restriction means that you’re only able to operate within a specific state, for example. You can’t cross state lines at all, which will limit the types of jobs you can take. An L restriction means that you’re not able to operate vehicles that have air brakes.

What is The Difference Between a CDL & CLP?

A Commercial Learner’s Permit, otherwise known as a CLP for short, means that you’re able to operate a commercial vehicle only under the supervision of someone who actually has a CDL. It’s not too dissimilar to a learner’s permit for a traditional driver’s license in that way.

How Long Does it Take to Get a CDL?

The amount of time it will take you to get your CDL will vary depending on several factors, including the state where you live and the amount of training you need to go through. Usually, people can get theirs in a period of a few weeks to several months, at which point they can start applying for jobs.

How Long Does it Take to Get a CLP?

If you want to get a CLP, on the other hand, know that this is a relatively straightforward process. In most situations, you’ll be able to get yours in a few days or even a week or more. Ultimately, it will come down to the state, but part of the point is to get you on the road as soon as possible.

If you’d like to find out more information about the different types of CDLs that are out there and how they might fall into your own career goals, or if you’d just like to speak about your long-term prospects with a team of professionals in a bit more detail, please don’t hesitate to contact the Advanced Commercial Capital team today.

If you’re an owner/operator, keeping your truck on the road is always a top priority. You’re a business owner, after all – you need to find enough work to always go from one job to the next. The more you work, the more you earn.

Yet at the same time, this is often a lot easier said than done. Thankfully, load boards exist that are designed to make owners/operators not only more efficient but more profitable as well.

What Are Load Boards?

A load board is a type of online platform that connects shippers, brokers, and carriers together. Each of these parties has its own unique needs, but sometimes figuring out how best to meet them can be a challenge. Load boards try to make that easier by allowing carriers to find loads, discuss the best rates, and keep their trucks moving – no matter what.

Think of it a bit like a message board that is dedicated exclusively to helping people ship goods and find carriers that best meet their unique needs.

How Does a Load Board Work?

Ultimately, using a load board is relatively straightforward for everyone involved. A shipper or broker will list any loads they have available, providing as many details as possible. These details include pickup and delivery locations, the type of load, the overall weight, and any special requirements they might have.

Owners/operators can then search for loads that meet their own needs. Not everyone will be available to travel to all destinations, for example. At that point, the parties can contact one another and bidding and/or negotiation can get started. Once that process is complete, booking and confirmation occur, at which point the owner/operator can begin work.

How Do Owner Operators Use Load Boards?

The number one way that owners/operators use load boards is to find loads. An owner/operator is someone who runs their own trucking business. Any day when they don’t have a load is a day they’re not working. Based on the specific routes they like to travel along with their capacity and other preferences, they can use load boards to find suitable jobs to take.

Owners/operators also use load boards in several other ways. Many use them to manage their availability, for example. Load boards are also valuable in terms of optimizing routes.

In addition, the importance of load boards in building relationships is something that cannot be overstated. The type of connections that you make on load boards can easily turn into recurring work and long-lasting relationships if all parties are satisfied with the job that has been done.

Factors to Consider When Choosing a Load Board

It is key to understand that not all load boards are created equally. Some load boards are inherently more valuable than others, so when it comes to finding one that meets your needs, there are many factors to keep in mind.

Types of Loads Available

Naturally, the types of loads that are available will be a big thing to look at when choosing a load board. If you’re an owner/operator who prefers FTL (full truckload) jobs, you wouldn’t want to spend much time on a load board that only offers LTL (less than truckload) opportunities. If most of the jobs on a particular board require specialty handling that you can’t match, it reduces the potential that the board has to offer. Be sure to find the load board that fits your hauling needs.

User-Friendliness

You’ll want to make sure that your load board has an intuitive user interface. This will save you time in the long run. If you have to spend hours trying to figure out how to navigate a load board just to find a job, you’re only causing yourself a lot of stress and frustration you could avoid.

Real-Time Status

A load board worth your attention should offer real-time updates on availability, status, and trucking. This is all useful in terms of effective logistics management.

Transparent Load Details & Payment Terms

When viewing loads on a load board, you should never be left guessing about key aspects of a load like payment terms. The more transparency you have, the less likely there is to be a misunderstanding later on.

Customer Service

In the unfortunate event that an issue does arise, you want to know that the load board’s customer service capabilities will be able to step in and lend a hand. At the very least, you shouldn’t have to wait days for responses to simple questions. You should always have a way to get clear details on rates, payment methods, additional fees, and more.

How Load Boards Impact Freight Factoring for Owner-Operators

Load boards impact freight factoring for owners/operators primarily by streamlining processes. Invoicing and payment processing become far easier, meaning that workers can get paid quickly, and the administrative burden is reduced for all involved. This is a great way to improve cash flow for all parties.

Load boards also help make owners/operators who may be new to the world of logistics aware of how certain fees are structured. If nothing else, it can act as an invaluable lesson about how to break down your own costs when using load boards to find and book work for the future.

In the end, load boards give owners/operators the information they need to make the most informed decisions possible. At that point, they can optimize their business and become the most successful entrepreneurs that they can be.

Factoring is Simple with Advanced Commercial Capital. Call Us Today!

At Advanced Commercial Capital, we pride ourselves on our ability to protect you – and your business – from unpaid freight invoices. It doesn’t matter whether they’re the result of fraud, bankruptcy, delinquency, or something else entirely – we offer a non-recourse approach so that we own all the risk, not you.

Getting started is easy – all you need to do is fill out the form on our website to learn more about our freight factoring solutions. After you apply and get approved, we will begin the lightning-fast setup process – which involves giving you access to our online tools.

Once you’re funded, you can rest easy knowing that all your needs are taken care of – allowing you to get back on the road and focus on the task at hand, exactly as it should be.

If you’re interested in finding out more about load boards and freight factoring, or if you have any additional questions that you’re eager to talk to someone about in a bit more detail, please don’t hesitate to contact the team at Advanced Commercial Capital today.

When you think about all the various jobs that might earn you a lot of tax deductions, truck drivers probably wouldn’t be on your list. After all – the chances are high that someone else owns your truck, and you’re already getting reimbursed for gas. What more could there possibly be to claim once tax season rolls around?

The answer, as it turns out, is quite a lot. If you want to make sure that you’re making the most out of your truck driver tax deductions, there are a few in particular you won’t want to miss.

Insurance Premiums

By far, one of the most important tax deductions that truck drivers should always take advantage of comes down to insurance premiums. Know that not only can you deduct the premiums for any health insurance that you need to buy if it isn’t provided by your employer, but you can also deduct business-related insurance, too. That includes both liability and vehicle insurance, if applicable.

Medical Expenses

Another common type of tax deduction that many truck drivers take has to do with medical expenses that they incur throughout their lives. This includes both any out-of-pocket costs that they need to pay, as well as any other medical costs that are directly related to their life and career as a truck driver.

Work Clothing & Meals

Just because you spend all day on the open road doesn’t mean you don’t have to buy something like a uniform now and again. Not only do you get to deduct the cost of that uniform, but you can also deduct any work-related meals during a long haul. Note that there are specific IRS rules pertaining to this that you’ll want to research further before you file.

Tools & Equipment

Again – a lot of people who are on the outside of this industry looking inward don’t necessarily realize that truck drivers have to purchase their own tools and equipment, similar to other professions. Some truck driver tax deductions can include the cost of those tools and supplies, as well as expenses related to any other equipment that you have to buy to aid in your trucking duties.

Travel Expenses

This is where most people assume that the majority of a truck driver’s potential deductions will rest. This won’t necessarily apply quite as much to someone who works for the same company all day and who makes it back to their own home at the end of the night. But if you’re the type of truck driver who takes long trips that have you away from home for days or even weeks at a time, know that at the bare minimum, you can deduct costs related to any hotel stays or other lodging that you need, meals, and other transportation-related costs. That might mean taking a cab from the airport to your employer if you’re flying away from home and driving back to your original destination. It will obviously vary depending on the situation.

Personal Products

Many truck drivers don’t realize that they can also deduct the cost of a lot of personal products that they purchase, especially since they become essential items while you’re on the road for long periods. That can include any hygiene products that are necessary for trucking purposes. Some of the most obvious examples of this include but are not limited to things like hand sanitizers, shaving cream, and toothbrushes/toothpaste.

Vehicle Costs

Another major source of truck driver tax deductions comes by way of vehicle costs. This is especially true if you’re the type of truck driver who owns your own vehicle. You can get deductions for not only fuel but also any maintenance that may be necessary to keep you on the road. You can also take depreciation-related deductions relating to the truck as well.

Education

Sometimes, you may need to invest in specific training related to your trucking duties so that you can advance your professional career. In those situations, a lot of the expenses are likely tax deductible. Therefore, if this is a step that you’ve always wanted to take but hadn’t up to this point because you were concerned about the cost, it might not be the big issue you thought it was.

Association Dues

Depending on the area of the country that you’re based out of or even the types of clients that you take on, you may need to be part of a professional trucking organization. That organization may charge membership dues – exactly what that money goes to will likely be outlined in its charter. The good news is that those membership dues are generally deductible, especially considering that they’re directly related to the job you’re being asked to perform.

Office Expenses

Last but not least, just because you don’t have what most people would call a traditional office doesn’t mean that you can’t deduct a lot of office-related expenses from your taxes as a truck driver. The chances are high that you probably need to have a cell phone to stay informed while you’re on the go. The cost of that phone is deductible. The same is true of any laptop you need to buy, which is getting more and more common these days. Other office supplies that are used for not only trucking, but running a trucking-related business, can be deducted.

These are just a few of the examples of truck driving tax deductions that you should take full advantage of. Rest assured that there are many more, and you’ll always want to consult the help of a seasoned tax professional so that you don’t miss any.

If you’re interested in finding out more information about how to use truck driver tax deductions to your advantage, or if you’d just like to speak to someone about making sure that your career on the road is headed in the direction you’d always hoped it would be, please don’t hesitate to contact the team at Advanced Commercial Capital today.