Carriers: Navigating Financial and Operational Challenges During Uncertainty
The evolving COVID-19 pandemic has caused the trucking industry to tackle rapidly changing operational and financial practices. The Coronavirus Aid, Relief, and Economic Security (CARES) Act has provided economic relief to businesses and individuals, but many carriers are wondering how to maximize the tax and loan provisions designed to incentivize employee retention and help maintain cash flow. How can carriers best shift the financial and operational structure of their business to address everyday needs during these uncertain times?
In this webinar conversation, hosted by the Iowa Motor Truck Association May 28, professionals from Katz, Sapper & Miller and KSM Transport Advisors shared financial and operational best practices and strategies to help carriers navigate the unpredented situation.
Key Discussion Points:
- Paycheck Protection Program loan forgiveness update and best practices
- CARES Act tax provisions
- Communicating with your lenders in these unprecedented times
- Internal control considerations
- 13-week cash flow
- Contingency strategies: preparing short-term business strategies depending on demand fluctuations
- Freight network disruption
- Jason Miller, partner, Katz, Sapper & Miller
- David Roush, president, KSM Transport Advisors
- Randy Hooper, partner, Katz, Sapper & Miller
To view a recording of the webinar presentation, click here.
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