Keep Your Business on the Road
Professional bookkeeping built for trucking companies and owner/operators. Master IFTA reporting, track per diems, and maximize profits with financial expertise designed for the trucking industry.
Expert-managed bookkeeping starting at $69/month. No setup fees. FREE catch-up bookkeeping included with every new subscription* (*with one year commitment).
Bookkeeping Challenges Facing Trucking Companies & Owner/Operators
Trucking Companies & Owner/Operators face unique financial pain points that generic bookkeepers simply don't understand. Here are the issues we solve every day for businesses like yours:
- Per Diem Tracking Headaches. Tracking per diem expenses for every trip is tedious. Miss a day and you're leaving money on the table at tax time.
- IFTA Fuel Tax Complexity. Quarterly IFTA reporting requires tracking fuel purchases and miles driven in each state. Errors mean penalties and audit headaches.
- Maintenance Log Requirements. DOT requires detailed maintenance records. Tracking repairs, inspections, and tire costs while staying compliant is a constant burden.
- Detention Pay & Accessorial Tracking. Detention, layover, and accessorial pay often get lost in the shuffle. Without proper tracking, you're leaving money on the table.
Owner/Operators: The Best S-Corp Candidates
Owner/operators are among the best candidates for S-Corp election due to high earning potential and significant self-employment tax burden. Instead of paying 15.3% self-employment tax on all your profit, you pay yourself a reasonable driver salary and take additional profits as distributions. An owner/operator netting $150,000 can save $10,000-$15,000 per year in taxes.
- Pay yourself a reasonable driver salary, take profits as distributions
- Save $10,000+ annually by reducing self-employment tax
- We handle payroll, per diem tracking, and S-Corp compliance
- Free evaluation to determine your potential savings
Our team of experienced bookkeepers and tax strategists will evaluate your specific situation and walk you through the S-Corp election process from start to finish — including payroll setup, reasonable compensation analysis, and ongoing compliance.
How GuidedLedger Helps Trucking Companies & Owner/Operators
We combine industry-specific expertise with modern accounting technology to deliver bookkeeping that actually moves your business forward:
- Per Diem Optimization. We ensure you're capturing every eligible per diem day. Proper tracking can add up to $15,000+ in annual tax deductions for full-time owner/operators.
- IFTA Reporting Made Easy. We prepare your quarterly IFTA reports accurately and on time. No more scrambling to reconcile fuel purchases and state mileage before deadlines.
- DOT Compliance Support. We help organize maintenance records, track inspection dates, and ensure your financial records support DOT compliance requirements.
- Lane & Load Profitability. Understand which lanes, brokers, and load types are most profitable. Make data-driven decisions about which loads to accept.
Common Tax Deductions for Trucking Companies & Owner/Operators
Many trucking companies & owner/operators miss thousands of dollars in legitimate deductions every year. Our team makes sure every eligible expense is properly tracked and categorized so you keep more of what you earn:
- Per diem meals & incidentals at IRS standard rate ($69/day for 2024 transportation workers)
- Fuel, oil, DEF, and on-the-road truck supplies
- Truck payments, depreciation, lease costs, and APU expenses
- Maintenance, repairs, tires, and preventive service
- IFTA fuel taxes, tolls, scale fees, and parking
- ELD, dash cam, satellite radio, and load-board subscriptions
- Truck insurance (physical damage, bobtail, occupational accident, cargo)
- DOT physicals, CDL renewals, drug testing, and required training
- Cell phone, hotspot, and trip-planning software
- Showers, lodging on layovers, and laundry while OTR
We review your spending throughout the year, flag deductions you may have missed, and prepare a tax-ready year-end package for your CPA or tax preparer.
What's Included for $69/month
- Monthly bookkeeping & bank reconciliation
- Professional financial statements (P&L, balance sheet, cash flow)
- Transaction categorization tailored to your industry
- Year-end tax-ready books
- QuickBooks or Xero management at wholesale pricing
- Email support & quarterly check-ins
- FREE catch-up bookkeeping when you subscribe (with one year commitment)
- S-Corp evaluation and tax-savings analysis
What Trucking Companies & Owner/Operators Are Saying
“GuidedLedger got me set up as an S-Corp and I'm saving over $12,000 a year in taxes. They also handle my IFTA quarterly, which used to take me a whole weekend. Best decision I made for my trucking business.”
*Client name abbreviated for privacy.
Frequently Asked Questions
How much can owner/operators really save with S-Corp?
Owner/operators are often the best S-Corp candidates. If you're netting $100,000-$200,000 annually, S-Corp election can save you $10,000-$18,000 per year by reducing self-employment tax. We'll calculate your exact potential savings during your free consultation.
How do you handle IFTA reporting?
We track your fuel purchases and mileage by state throughout the quarter, then prepare and file your IFTA reports on time. We ensure accuracy to avoid penalties and audit triggers.
Can you help maximize my per diem deductions?
Absolutely. We help you track every eligible per diem day using IRS-approved rates. For full-time owner/operators, this can add up to $15,000+ in annual tax deductions—money you might be leaving on the table.
What about detention and accessorial pay tracking?
We set up your books to capture detention, layover, stop pay, and other accessorials. This ensures you're billing correctly and helps you identify which brokers and shippers are costing you money in wait time.
Do you understand DOT compliance requirements?
Yes. While we're not a compliance company, we understand DOT record-keeping requirements and help ensure your financial records support compliance. We work with your ELD data and maintenance records to keep everything organized.
Related Industries We Serve
Don't see your industry? We work with small businesses across every vertical. View all industries we serve or get started with a free consultation.