Trucking is up and down. And right now, compared with last year, it does feel better. So, do we work more and stay focused on recovering the last 3 to 4 years of mess, or do we start buying liabilities, changing the personal car, the house, etc.? The smart move is to treat this as a window, because these good times can pass fast. So, let's push the most we can now, no vacation and relax, prepare for bad times with no debts, no loans, nothing to hold you back.

SQUEEZE THE MOST FROM WHAT YOU HAVE

This is the moment when you squeeze the most you can from your truck and trailer. Be careful about buying a new truck just because the market feels better, especially if prices are climbing again. In general, the best time to buy equipment is when the market is bad and nobody wants to buy trucks.

If you still find a truly good deal on a truck or trailer, go ahead. But from what we see, “good deals” get harder once optimism comes back.

MAKE A TAX PLAN

Once you are covered, then you can move into tax planning. A good CPA can show you what to do, and how to invest or structure purchases in a legal way to lower your tax bill, sometimes a lot. You can also keep certain debts if that is part of the tax plan. But don’t forget the real trucking world. Make sure you still save cash for the evil moments, when there are no loads and you’re staring at $2/mile offers for lanes that need at least $3/mile just to break even.

WHERE ARE WE HEADING?

There are signs of recovery, but some recent strength is also seasonal and weather-driven (especially reefer). So, we stay optimistic, but we stay careful!

Disclaimer: This article reflects our personal opinions and experiences as a trucking company. It is not legal, financial or insurance advice, and it is not meant to accuse any specific person, company or profession of wrongdoing.