OOIDA gives inside look at the business of trucking

There’s no single book that can entirely explain the business of trucking.

Sure, you can pick up some tips or get a word of advice here and there.

Yet, trucking is not a one-size-fits-all business.

To that end, the OOIDA Foundation has done its best to create a how-to of sorts called Truck to Success for those interested in getting their own authority.

At the Mid-America Trucking Show in Louisville, Ky., OOIDA Executive Vice President Lewie Pugh and Barry Fowler, founder of Taxation Solutions, presented an abbreviated version of its three-day Truck to Success educational program.

The annual full three-day Truck to Success course held in Blue Springs, Mo., offers a wide array of information as well as expert advice, networking opportunities and more. Developing a business plan, insurance, taxes and permits and licensing are just a few of the many topics explored.

A snapshot presentation at MATS focused mainly on the tax portion of the Foundation’s full training course scheduled for Oct. 25-27.

A tax-specific talk, like the Truck to Success session at MATS, was just what OOIDA life member Jeff Wright, and his wife, Kathy, were looking for.

“Even before this weekend, we’ve been talking a lot about taxes and what we need to do better,” Jeff Wright said. “That’s one area where we feel like we’re falling a little short in. I thought we’d get a lot of answers here.”

Kathy handles the bookkeeping for her husband, Jeff, and admitted she wasn’t sure she was fully aware of all that job entails.

“You just try to figure it out as you go,” Kathy Wright said. “Today, I learned I’m doing a lot of things right. There’s some things I need to improve on and change. That made me feel more confident in what we are doing.”

The couple is looking into attending the full course in the fall, whether it be virtual or in person.

Alfred Johnson Jr., from Spotlight Venture Enterprises in New York is looking into becoming a fleet owner.

He said the information at Truck to Success at MATS was substantial enough that he plans to attend the full course at the Courtyard by Marriott in Blue Springs, Mo.

“It’s been very informative, and with me planning on being a fleet owner, I’m doing homework now,” Johnson Jr. said. “This was especially helpful in the tax area. Obviously you have to talk to an expert, and they’ll guide you through it. I’ve already budgeted to attend the full class. I want to learn what not to do so I won’t burn myself in the long run.”

Jamar Vann owns several trucks and made it a point to attend the Truck to Success talk at MATS.

“Taxes are a big part of trucking, those hidden expenses,” Vann said. “I’m trying to figure out how much money can come back into a guy’s pocket. How can we lower some expenses that we didn’t think about last year? I’m thoroughly interested in OOIDA because they do just about everything you want to know in trucking. It’s pretty much a one-stop shop in trucking education.”

Another OOIDA member, Terry Hicks, expressed his gratitude to the Association for all the help they have provided.

“They are very helpful,” Hicks said. “I’ve never called them and they didn’t pick up the phone. They helped me set up my authority. Everything is regulated, so this business is very specific as far as what had to be recorded. I’m going to be calling them for more information because I do have more questions. There’s always questions.”

For more information about Truck to Success visit the OOIDA Foundation website. LL