Even though there might be a lot of things that you love about running your own solo trucking business, one thing that you might not like is having to cover the cost of any repairs that your rig might need. Luckily, though, there are ways that you can reduce these costs so that you can increase your profits as an owner-operator. These are a few tips that you can follow.
1. Focus on Maintenance
As with just about anything, if you take good care of your rig, it will be less likely to break down on you. Not only can this help you avoid getting stuck on the side of the road when you've got a load to deliver, but it will also help save you money in repair costs, too. Focusing on things like maintaining the engine and changing the necessary filters is worth it if you own and are responsible for taking care of your own rig.
2. Do it Yourself
You might consider yourself a driver and not a mechanic, but there are certain things that you may be able to do, even with limited knowledge. There are online videos and tutorials out there that can show you how to do basic things like changing diesel fuel filters and mudflaps, and learning how to do these things can help you save quite a bit of money. Plus, you won't have to worry about waiting on anyone else to get the job done; instead, you can do it yourself as needed.
3. Track Expenses
One big mistake that a lot of owner-operators make is not properly tracking all of the expenses that are involved with their trucking companies. However, keeping track of all of these expenses and showing receipts to your tax professional can help you count these costs off as business expenses on your taxes. Since you might pay a lot of money in taxes already, you are probably looking for every tax break that you can get. Keeping receipts for maintenance, repair, parts and other similar costs and working with a good tax professional can help you avoid paying more in taxes than you have to, though.
As you can see, there are a few different ways that owner-operators can save money on truck repair. If you are worried that you are spending more on this aspect of your business than you should, consider giving these tips a try to save a significant amount. Contact a truck center, like River's Truck Center, for more help.
Share12 December 2016
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