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Introduction

If you follow this simple step by step guide, in just 4 easy steps. you will be more organized than you have ever been. In fact you will be more organized than 90% of the owner operators on the road. You'll save yourself thousands of dollars and many hours of headaches and frustration at tax time.

Image 1/1: You can pick these up at most office supply stores
  • Get a 21 or 26 pocket expanding folder

  • You can pick these up at most office supply stores

  • Be sure to get 21 or 26 pockets, many of these folders are 12 pocket so look carefully

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Image 1/1: This matches the expense categories in ProfitGauges, and also match the way you should be categorizing your expenses on your Federal Tax Return.
  • Label it with these expense categories.

  • This matches the expense categories in ProfitGauges, and also match the way you should be categorizing your expenses on your Federal Tax Return.

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Image 1/1: Don't keep more than one copy
  • Now your receipts have a home, whenever you get a receipt, simply put it in the slot for that expense category. Here are some tips on handling the receipts.

  • Don't keep more than one copy

  • Keep the best copy, white is better than colored, then throw away the rest

  • If you are not going to be scanning your receipts, make copies of of any receipts on thermal paper.

  • You can easily store an entire year of receipts and settlements in just one of these expanding folders, as long as you are only keeping what is necessary

  • If you run out of room you are keeping too much.

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Image 1/1: Then set a reminder on your phone, computer, calendar, or whatever you use to stay organized, to write down the truck odometer reading on the first day of every month.
  • Create a form like this one and stick it in the front slot of your folder.

  • Then set a reminder on your phone, computer, calendar, or whatever you use to stay organized, to write down the truck odometer reading on the first day of every month.

  • This is the number you will use to calculate Cost Per Mile.

  • If you did nothing but these first 4 steps all year, you would still be more organized than 90% of the owner operators on the road.

  • If you're ready to go to the next level of bookkeeping, follow the next set of steps to learn how to scan your receipts and organize them in a digital filing cabinet.

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Image 1/1: [http://mygauges.com|Visit MyGauges]

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Finish Line

109 other people completed this guide.

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Kevin

Member since: 11/02/2011

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