Mission Financial Blog
How Owner/Operators Can Prepare for Tax Season
After a very long year, the 2021 tax season is upon us. As an owner/operator, properly filing your tax return is crucial to the success of your operation. Navigating the increasingly complex tax code can be arduous, though. Multiple deadlines, numerous deductions, and...
Employment Challenges Facing the Trucking Industry in 2021
The COVID-19 pandemic continues to highlight the sheer importance of long-haul drivers in the United States as record unemployment in the trucking industry leads to disruptions in supply chains nationwide. Namely, these unemployment rates resulted in a critical driver...
What Does the New Administration Mean for the Trucking Industry?
The start of 2021 comes with a new presidential administration in the United States as President-elect Joe Biden takes over as commander-in-chief on January 20. A change in national leadership is certain to have an impact on businesses and industries across the...
4 Industry Trends to Watch in 2021: The Rise of New Technology in Transportation
As the coronavirus took its toll on the world in 2020, some industries—like the hospitality sector—were deeply impacted as government-mandated restrictions and virus-related fear prevented restaurants and bars from operating at maximum capacity. E-commerce, on the...
3 Mistakes Every Owner/Operator Should Avoid
Starting out as an owner/operator can be a difficult and complex endeavor. Purchasing the right long-haul vehicle, learning standard practices and procedures of the industry, and understanding how to file your taxes properly are just a few of the challenges rookie...
What’s the Difference Between an Owner/Operator and an Independent Contractor?
The trucking industry is one of the largest employers in the United States, with roughly 9 million people in trucking-related jobs. Of that number, 3.5 million are truck drivers. Many truck drivers are classified as either independent contractors or...
Why Owner/Operators Should Run Hard This Holiday Season
There is no doubt that the COVID-19 pandemic has had an impact on the vast majority of industries throughout the country; the freight industry is no different. Currently, carrier rates are skyrocketing, surpassing the all-time high for rate prices several times...
5 Tips for Winterizing Your Semi-Truck
Working as a long-haul owner/operator is a difficult, dangerous career not meant for the faint of heart. Ever-changing road and weather conditions, unfamiliar locations, 70-hour workweeks, and almost total isolation—the modern owner/operator faces unparalleled...
5 Things CPAs Must Be Aware of When Filing Taxes for Owner/Operators
The COVID-19 pandemic created a situation where e-commerce sales have grown astronomically—with total online spending in the month of May reaching upward of $82 billion (an increase of 77% year-over-year). This rapid increase in online sales also led to an upsurge in...
How Truckers Can Prepare for the Holiday Season Amid COVID-19
Days are becoming colder and shorter, festive lights are appearing on every street, and fleets of semi-trucks are working to move holiday goods in tandem with their essential deliveries. This peak season, you can anticipate a 10-20% increase in your mileage as you...
