Mission Financial Blog
5 Biggest Owner Operator Expenses
As of 2019, the average gross salary of an owner/operator is $220,591. However, this figure does not take into account the expenses incurred each week. On top of standard expenses, the installation costs of a new tractor can run a hefty price tag (over $100,000). For...
The Top Ways to Prepare for Roadside Inspections
Picture this: You’re on the road and the inevitable happens… You get stopped for a roadside inspection. Such blitzes can happen at any time but are particularly enforced during certain times of the year. For example, Operation Safe Driver Week took place in July 2020....
5 Ways to Manage an Over-the-Road Trucking Company
When you manage your own trucking company, you’re expected to handle all hauls with complete efficiency; and that’s on top of taking care of a long list of other crucial responsibilities necessary for your company's survival. Throughout the COVID-19 pandemic,...
5 Things Owner/Operators Should Do to Achieve Success
Trucking is an expansive and flourishing occupation—and it’s one of the industries that hasn’t slowed down during the current COVID-19 crisis. Companies and essential businesses turned to trucking, heavily relying on owners/operators to deliver their much-needed...
How Working from Home is Affecting the Transportation Industry
COVID-19 changed just about every aspect of American society, including our work lives. Earlier this year, many offices and places of business transitioned to a remote work structure with a majority of employees working out of their homes. One of the results of this...
Everything You Need to Know About the Fiscal 2021 Transportation Funding Bill
At the end of July, the U.S. House of Representatives passed a package of fiscal year appropriations bills for 2021 with a 217 to 197 vote. The six bills address urgent national priorities and supply funding for federal agencies, including the departments of Commerce,...
Pros and Cons of Employer-Paid CDL Training
Believe it or not, it’s both legal and entirely feasible for anyone in the U.S. to receive a Class A Commercial Driver’s License without any help from a private trucking school. This information can be hard to come by, however, as there are dozens of private trucking...
Tax Update for Owner Operators and Fleet Owners
IRS Brings Back Form 1099-NEC The IRS form known as 1099-NEC is returning for the 2020 tax year. The 1099 form has been in use for a long time—it’s the tax form used for independent contractors to report their taxable income. The NEC variant hasn’t always been in use,...
An Owner/Operator’s Guide to Financing During a Pandemic
A lot of things are up in the air in light of the COVID-19 pandemic. If your business had just decided to put money down on future investments, or didn’t have much squirreled away to begin with, it can be difficult to trust the market to keep your business going...
How the Freight Industry Is Rebounding in the Wake of the Recession
The American economy took a serious hit in March, April, and May of this year, with unemployment spiking at nearly 15%. This percentage of people left without full employment in America was so large, you’d have to go back 80 years to find a comparable moment of...
