News Blog

Truck Times - Issue 1, 2014

Posted 1:28 PM by

In This Issue:

Transportation Companies Benefit from New Capitalization Regs
Deciding what should be capitalized or expensed can be a painful process, particularly for companies that are fixed asset intensive. The temporary regulations that previously instructed taxpayers concerning capitalization (Regs 1.263(a) and 1.162(a)) were ambiguous, failing to set clear guidance on a variety of issues affecting capitalization. By Randy Hooper, CPA

Tax Implications of Running Miles between the U.S. and Canada
The U.S. Department of Transportation recently released data showing that trade between the U.S. and Canada is on the rise. Trucking is at the forefront of U.S.-Canada trade as trucks were carrying nearly 54 percent of freight across international borders as reported in October 2013. As more companies evaluate taking on international routes, it is important to understand the tax implications of running miles across international borders. By Nathan Potter, CPA

Green Fleets: Trucking Companies Explore Alternative Fuel Equipment Upgrades
Alternative fueling is one of the hottest topics in the trucking industry today. Evidence could be seen at the sold out Natural Gas in Trucking Summit, hosted by the American Trucking Associations in the fall of 2012. And many state associations continued to demonstrate its growing popularity by including natural gas as a topic at their annual conventions throughout 2013. By Matt Gard, CPA

Client Spotlight: Paschall Truck Lines Forms 100% ESOP
In October 2013, Randall A. Waller, president and CEO of Paschall Truck Lines, Inc. (PTL), announced that PTL had sold 100 percent of its stock to its employees through an Employee Stock Ownership Plan (ESOP). Mr. Waller purchased the company from L.W. Paschall approximately 40 years ago. Today, PTL, also headquartered in Murray, operates approximately 1,130 tractors and has approximately 1,400 employees.


Katz, Sapper & Miller’s Truck Times is a bi-annual newsletter that focuses on the financial side of the transportation industry.