Taxes in trucking on the next ‘Live From Exit 24’

As the 2021 tax season quickly approaches, taxes in trucking will be a central topic on the Feb. 10 episode of “Live From Exit 24.”

Barry Fowler, founder of Fowler Tax and Taxation Solutions Inc., will provide insight from his more than 20-year career in the tax and finance industry. Fowler also writes the “Trucking & Taxes” column in Land Line Magazine.

Host Mike Matousek, manager of government affairs at OOIDA, invites you to listen and call with questions or comments.

OOIDA’s internet talk show is scheduled for 11 a.m. Central every other Wednesday. Truck drivers are encouraged to call in with a question or comment to the hourlong, audio-only show. To be a part of the upcoming episode, call 317-67-OOIDA (317-676-6432) at 11 a.m. Central time on Feb. 10.

Listeners can tune in to the show on the “Live From Exit 24” website, OOIDA Facebook page or on OOIDA’s YouTube channel.

Past episodes of “Live From Exit 24” are archived on the show’s website.

During the Jan. 27 episode of “Live From Exit 24,” increased truck sizes was the focus of the conversation.

OOIDA President Todd Spencer explained the importance of looking at the bigger picture.

“The states set weight laws and collect fees and taxes based on those laws,” Spencer said. “Increased costs aren’t just for the few who benefit from this – they affect all truckers. Shippers are often the biggest beneficiaries. The competitive nature of the trucking business will lower the rate, and you end up with more costs without realizing the economic benefit.”

Andrew King, OOIDA research analyst, was also a guest and addressed safety as well as the economic issues.

“There’s a niche for bigger and heavier trucks, so it can be profitable,” King said. “However, with bigger trucks you also limit their ability to stop. Speed limits are also a factor as traveling with the flow of traffic is a key to safety. I don’t see bigger trucks meaning less trucks.”

 ‘Live From Exit 24’ survey

“Live From Exit 24” launched last year as a way to expand OOIDA’s communication with members and to hear directly from drivers across the industry.

OOIDA is asking for truck drivers to fill out a survey to let the Association know how you are liking the show so far. The survey can be found here. LL