The Transportation Services Index for freight increased 1.3 percent on a seasonally adjusted basis in February from January’s level of 119.1. The 120.6 index level in February was 3.7 percent higher than the February 2003 level. The index, which was launched by the Bureau of Transportation Statistics in March, is still under development and subject to refinement.
GE Commercial Finance-Fleet Services (www.gefleet.com) worked with Asset Appraisal Services to introduce an online remarketing channel to help Fleet Services’ customers sell their used heavy truck and specialty assets directly to dealers. By using onsite inspections and condition reports, customers avoid the cost and hassle of having the assets picked up.
Internal Revenue Service introduced two resources to help small businesses keep their employee retirement plans compliant with federal tax law. Check-Ups are a series of checklists that help employers identify possible problems with their administration of Simple IRA, SEP and SARSEP plans. Retirement News for Employers is a newsletter that addresses concerns of small businesses in relation to the plans they maintain for their employees. For more information on both, visit this site.
Employers not required to use the Electronic Federal Tax Payment System (EFTPS) can receive a refund of a federal tax deposit by enrolling in EFTPS, the Internal Revenue Service announced. To qualify, an employer must have paid the penalty in full, use EFTPS for one year and make all Form 941 payments on time. To enroll, visit this site.
If you have succeeded in trucking, can you thrive in another business as well? As a CPA serving entrepreneurial clients, this question arises frequently. Every successful business owner at one time or another gets the bug to invest in a new business venture, perhaps one related to his core business. For example, a trucking company owner who buys lots of tires might think that owning a tire store would be a great business. He might think it will help him save – or profit – on a key expense item.
Other times, an owner might want to delve into something totally new. If owning a fleet gets tough, why not invest in, say, a local restaurant?
Whether it’s a seemingly solid diversification strategy or a wild idea that pops up at a cocktail party, you need to conduct a feasibility study on any outside investment opportunity. It could mean the difference between the club level or cheap seats come retirement time.
