TFS Group provides accounting and compliance services to truck fleets and owner-operators of all sizes and stripes. The company is based in Canada, but its straightforward, plain-spoken advice and methods for managing the business side of the trucking business are universal. Story angles include choosing a business structure; tax strategies and compliance; IFTA reporting; financial planning; and managing the relationship between owner-operators and carriers. Media contact: Stephen Petit
Feb 25, 2010 | Story angle: Taxes Tax time induces so much angst because the process is overwhelming. Canada Revenue Agency’s General Income Tax and Benefit Guide for 2009 is 62 pages long—all that to help you complete a five-page income tax return. That said, folks ask the same basic questions each year.
Jan 26, 2010 | Story angle: Recordkeeping, Taxes It’s 2010 and last year may be a distant memory for you—and given the state of the economy, why not? But there’s still a chance to minimize your 2009 personal income tax bill. From the HRTC to HST, TFS Group’s Scott Taylor provides six opportunities you shouldn’t overlook.
Nov 30, 2009 | Story angle: Recordkeeping, Taxes For many owner-operators, this past year has meant not only less revenue but more debt. If you signed new loan agreements or refinanced existing ones, be sure to account for the interest and finance costs on your tax return. Read this four-step plan.
Oct 30, 2009 | Story angle: Recordkeeping One of the most misunderstood deductible business expenses involves the so-called “service vehicle”—the business-related use of a personal car, truck, or van. Here’s your roadmap to compliance.
Sep 28, 2009 | Story angle: Recordkeeping, Taxes It’s no surprise to Scott Taylor when a client says, “Why did I get this notice?” Or, “Can you explain this in plain English?” But every now and then he gets a call like the “Case of the $20,000 Tax Bill.” It’s an exasperating story because the situation is so preventable.
Aug 26, 2009 | Story angle: Taxes The concept behind the International Registration Plan (IRP) is to make it easier to register and pay licensing fees to each jurisdiction you travel to. And I think everyone would agree that it does. Today, 10 provinces and the 48 contiguous states participate in IRP. Scott Taylor offers tips for IRP compliance, especially for carriers in Ontario.
Jul 1, 2009 | Story angle: Taxes We all love tax credits, and pretty much everyone I know is dreaming of a bathroom or kitchen reno. But qualifying for the HRTC takes some planning and an understanding of what kinds of expenses are eligible.
