Keeping track of all those trucking receipts for your fleet can prove time-consuming, to say the least. If you make a mistake, or one of your drivers forgets to turn in a form, then the possibility of error on your fuel tax reporting ushers in a whole new set of worries.
IFTA software solutions can help you eliminate those worries while reducing the time you spend on fuel tax reporting for your truck fleet.
The IFTA, or International Fuel Tax Agreement, allows you to submit tax forms from your company's base state no matter where your fleet trucks travel, meaning you do not have to submit multiple tax forms covering the states visited by your fleet.
You can purchase the software on CD, or you can access it directly online from the manufacturer. To get the most for your money on an IFTA fuel tax program, make sure:
- The fuel tax software significantly reduces paperwork.
- The fuel tax program offers a good return on your investment.
- The IFTA software easily and accurately tracks mileage.
- Offers automatic features that help with otherwise tedious tasks, such as tracking fuel prices.
Action Steps
The best contacts and resources to help you get it done
Find a fuel tax program that cuts down on paper
Fuel tax reporting software should help you generate multiple reports for your fleet without repeat data entry.
I recommend: Fuel tax reporting software such as
ProMiles handles multiple reporting requirements in one program. To keep up to date on mileage, Mile.com's
TaxTally program keeps track of important information such as state mileage for you.
Research online IFTA fuel tax reporting tools
Just like online income tax programs, these fuel tax programs help your company stay compliant. As a bonus, you can update information from any computer no matter your location.
I recommend: Fuel Tax Master Online from J.J. Keller & Associates Inc. allows you to enter and monitor trip data, scan and attach receipts and much more. Or, take a look at the online form provided by
TruckTax.
Research the return on your investment
Make sure you purchase IFTA fuel tax software that will pay for itself in savings within a few years. Fuel tax software should show a return on investment in that time.
I recommend: ProMiles Software Development Corp. offers a
savings calculator on its website that estimates how much your fleet could save with more accurate mileage and fuel tax reporting.
Tips & Tactics
Helpful advice for making the most of this Guide
- If you're using online software, look into how the program will charge you. Some fuel tax reporting software programs charge by fleet size while others charge per truck.
The official source of Fuel Tax Reporting Software is
the Fuel Tax Reporting Software page at Business.com
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