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Let 2019 be the year of FULL compliance and profits!!

Some quick good and free advice to my new Motor Carriers/Transporters.  I polled the experience haulers who i insured and asked them where should a newer company focus their efforts/initivatives...Drum roll please.... 

    1) Find a really good CPA and Attorney who know our industry. (Non-negotiable) Getting you set up improperly could be your greatest failure.

2) Buy the best insurance policy you can find. (Non-negotiable) Bad policies do exist!

3) Create the right factoring partnership, if you need it.  Be selective as not all factoring companies are created equally.  It comes down to the value of time.  

4) Make time for you.  A few bucks for yourself/date night (the grind will chew you up if you let it - just don’t let it) Take time for YOU 

5) This one took the lead by far.  Get Compliant and Stay compliant.   Everyone mentioned this so we decided to share more info and data with you to get and stay compliant 

 

As you knowm The FMCSA has raised their fines. 

https://cdllife.com/2018/dot-increases-fines-trucking-violations-across-board/?fbclid=IwAR1ZquHTqmsNzraysjq2vYvcUZHQSFcpKZR0ZXXE5l_m6vmHGfKNpI43lME

 

Whether you handle it in house or hire it out, Stay in compliance with the DOT!!  Out of service violations will result in higher insurance premiums. 

Below are some important items and dates to keep in mind as you roll into 2019. 

UCR –  This is a yearly fee that needs to be filed if you go out of state.  It is due by the end of January.  (This year it is due by March 31 due to the new law of the price decrease and when it was passed)  The costs is around $ 70.00 plus a service charge of $3.00 for using a credit card to pay this.  This cost is for two or less and goes up if you have more. 

Form 2290 – If you have IRP plates this needs to be paid.  It is a tax to the IRS.  The cost is no more than $550.00 for trucks weighing up to 80K pounds.  This is due every July.  You can go down to the IRS office wait in the long line, or mail it in and hope you get it, or you can use a filing service and the cost for those companies average around $30.00.

License Plates -   Whether you run GVW or IRP plates these are due every year.  Usually you will get a post card in the mail stating the price and you can send in the payment.  Another way to pay for these are on the State website.  You usually get notice of the cost about three months before your plates are due. 

Updating your DOT number – Every two years you are to update your MCS-150.  This is the form you filled out when you first got your DOT number.  To update it they need to know the amount of miles you traveled in the previous year.  If your address, number of trucks and drivers or any other information has changed, this is a good time to change everything. 

If the next-to-last digit of its USDOT Number is odd, the motor carrier or intermodal equipment provider shall file its update in every odd-numbered calendar year. If the next-to-last digit of the USDOT Number is even, the motor carrier or intermodal equipment provider shall file its update in every even-numbered calendar year.

USDOT number ending in:

Must file by last day of:

1

January

2

February

3

March

4

April

5

May

6

June

7

July

8

August

9

September

0

October

 

Failure to complete a Biennial Update will result in deactivation of your USDOT number and may result in civil penalties of up to $1,000 per day, not to exceed $10,000.

Driving record- You need to ensure you get a copy of your driving record each year.  This must be done for any one that drives a company vehicle.  Be consistent on when you get these.  I suggest you do them when you are slow and you have time to do office work.  If you do have drivers you might want to check them more often to ensure that their driver license is still active.  It will save you in the long run not getting that phone call from the DOT stating your driver has no license and now you have to either come and pick it up in a time frame or have it towed to an impound yard creating more expense for you. 

Medical Card – Every driver is required to have a medical card.  This is due every year or two years depending on your medical conditions.  Check yours today and see when it is due.  Failure to have a medical card with a commercial license the DMV will reduce your license down to a Class C license.  There is two important things to remember.  First off you need to have the medical card before you old one expires, per DOT regulations or you could be fined, and secondly you must ensure that it is on record with the DMV that you had this performed. 

Driver licenses – Know when your license expires.  Commercial licenses can not be renewed online.  You must physically go in and obtain this.  If you have other drivers know when theirs expire as well. 

IFTA taxes – If you have IFTA tag you must file every quarter.  This can be done through a form or online at the State website.  For this information you will need to know how many miles you traveled in each state and the gallons of fuel you purchased in each state.  This needs to be done only if you are an interstate company. 

My biggest suggestion is to make sure you know this information and don’t be late on it.  I would suggest you write it on a calendar or set a reminder on your phone or with Alexa or someplace where you look on a daily basis.  Working with many transportation companies, I know you get busy. 

Stay tuned for our next Blog of Why do I need a business plan. 

If you need any help with this or any other areas involving your insurance, compliance, factoring, your company and the DOT, please feel free to contact me.  I never charge you to ask questions, but only when I do work for you.   Your win is my win and if I can do anything to help you keep your wheels turning and the money coming in, I will leave no stone upturned to do so.

Stay in compliance my  friends and colleagues ( and thirsty too ).  Make 2019 your best year yet!!!

 

Respectfully,

 

Leonel Carmona - Chief Problem Solver

970-330-7240 - Office

970-388-4767  - Personal Cell

970-330-1076 – Fax

 

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907 30th Avenue, Suite 104   

Greeley, CO 80634

 

Posted 7:27 PM

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