Posts tagged ‘ifta’

3rd Quarter 2010 IFTA Fuel Tax Retuns Due Soon

This is your friendly reminder that your 3rd quarter 2010 IFTA fuel tax report is due by October 31, 2010.  Since the 31st is a Sunday and post offices are closed, most states allow you to postmark your return by November 1st.  If you are unsure whether your state allows you to wait til Monday the 1st, get the return prepared and sent by Saturday October 30.

Collect all your diesel gallons purchased and miles driven between July 1 and September 30, 2010.  Then, use IFTA Plus to enter your information and immediately have our IFTA calculator prepare your State return.

Safe driving!

October 25, 2010 at 3:16 pm Leave a comment

IFTA Fuel Tax Preparation 2nd quarter 2010

As of July 1, 2010, IFTA Plus is ready to prepare your second quarter 2010 IFTA fuel tax return.

Continue Reading July 1, 2010 at 5:30 am Leave a comment

IFTA Fuel Taxes Due Friday April 30

This is your friendly reminder that your 1st quarter 2010 IFTA fuel tax report is due this Friday April 30, 2010.

Collect all your diesel gallons purchased and miles driven between January 1 and March 31, 2010.  Then, use IFTA Plus to enter your information and immediately have our IFTA calculator prepare your State return.

Safe driving!

April 26, 2010 at 3:22 pm Leave a comment

IFTA Plus reminder to prepare your Q1 2010 return

We have passed the April 15th deadline to file federal taxes and now its time to focus back on IFTA taxes.  If you haven’t prepared your State IFTA return yet, there is still time.  The deadline is April 30, 2010.

If you need help getting started, read more about the steps required to file your IFTA return.  If you have questions regarding IFTA Plus, hopefully you can find your answers here.  If you need some incentive, or a way to earn some extra cash, we have a great incentive program called IFTA Connect.  IFTA Plus has helped thousands of companies take the headache out of preparing their IFTA return and can even help you prevent an audit.

If you have further questions, give us a call at 816.200.PLUS (7587) or check out our website at www.iftaplus.com.  Registration is free and you only have to pay $25 per quarter, no matter the number of trucks in your fleet.

As always, Safe Driving…

April 16, 2010 at 9:36 pm Leave a comment

First Quarter 2010 IFTA Fuel Tax Preparation

As of April 1, 2010 (no joke), IFTA Plus is ready to prepare your first quarter 2010 IFTA fuel tax return.

If you already have an account with IFTA Plus, sign in and start entering your miles and fuel.  If not, our registration process takes only a minute and we walk you through each step in the filing process.  You don’t have to pay for anything until you are ready to print out your state IFTA fuel tax return.

To complete your return, you will need to collect your miles driven and fuel purchased in each State between January 1 and March 31.  If you need help with older returns, we can file any quarter since Q1 2007.

We are excited to introduce our new IFTA Connect program!  It’s free to use and can earn you cash.

As always, feel free to Contact Us if you need further assistance.

As always, Safe Driving…

March 31, 2010 at 11:59 pm Leave a comment

IFTA Plus announces IFTA Connect

IFTA Plus announces IFTA Connect, a new program allowing any company to passively earn cash for every new customer they refer, and to continue to be rewarded every quarter for those referrals.

Continue Reading March 19, 2010 at 3:01 am 4 comments

4th Quarter 2009 IFTA returns due soon

Your 4th quarter 2009 IFTA fuel tax report is due by January 31, 2010.

Collect all your diesel gallons purchased and miles driven between October 1 and December 31, 2009.  Then, use IFTA Plus to enter your information and prepare your IFTA return.

Safe driving!

January 27, 2010 at 10:31 pm Leave a comment

IFTA Plus Discontinues Utah IFTA Fuel Tax Preparation

As of 1/20/2010, IFTA Plus is discontinuing our Utah IFTA preparation because of new Utah state regulations requiring all companies to file fuel tax returns using their online website.  All of our existing Utah companies will be receiving a full refund for any pre-paid quarters.

Utah now joins Minnesota in adopting regulations that act solely in the State’s best interest without regard for existing practices, tools and vendors of the transportation industry.

January 21, 2010 at 5:34 pm 1 comment

How to properly calculate IFTA taxes owed per truck

IFTA Plus has established itself as the leader in online IFTA fuel tax preparation boasting thousands of customers and a growing number of features.  One issue, however, has long confused customers and hopefully this will help clarify the matter.

When preparing a state IFTA fuel tax return, IFTA Plus combines all miles driven and fuel purchased across all trucks within the company.  An overall company MPG is calculated and used to determine the amount of taxes a company owes.  IFTA Plus offers a report showing the amount of taxes owed for each truck.  Here lies the problem because there are two approaches to this calculation.

1)  Use the company MPG when calculating truck taxes.

This approach uses the company MPG along with the truck mileage and fuel to determine the truck taxes.  If a company has 5 trucks and this method is used, the sum of the taxes owed per truck will equal the amount of taxes owed by the company.

2) Use the truck MPG when calculating truck taxes.

This approach uses the truck MPG along with the truck mileage and fuel to determine the truck taxes.  If a company has 5 trucks and this method is used, the sum of the taxes owed per truck will not equal the amount of taxes owed by the company.  The total taxes owed equals the amount the truck would pay if it were to file on its own.

While the difference may seem slight, it method greatly alters the amount of taxes owed per truck.  Take the following example of 2 trucks.

Truck Comparison

In this scenario, the overall company drove 20000 miles and bought 3500 gallons of fuel for a company MPG of 5.71.  The company would have an IFTA credit of $6.29.

When calculating the amount owed per truck

If we use the company MPG, Truck 1 would owe $139.57 and Truck 2 would get a credit of $145.86.  The total of these equals the overall company IFTA credit of $6.29.  If we use the truck MPG, Truck 1 would get a credit of $20.00 and truck 2 would owe $31.25.  The total of these does not equal the overall amount paid by the company.

Which approach is best for you?

This is hard to determine.  You will be able to justify either approach.  Using the company MPG penalizes drivers who get better gas mileage, but it better reflects their contribution to the amount of taxes your company paid.  Using the truck MPG is more fair to the drivers, but in the end the sum of the trucks does not total the amount owed by your company.

No matter which choice you prefer, IFTA Plus lets you decide which method is best and provides you an easy way to switch between these methods.  For current customers, to change this setting navigate to settings -> IFTA  and check or uncheck the ‘use the company MPG as compared to the truck MPG’ setting.

January 15, 2010 at 10:50 pm 2 comments

IFTA Plus Helps Prevent and Manage IFTA Audits

At least 3% of all trucking companies must undergo an IFTA audit each year. IFTA Plus can help your company through an IFTA Audit.

Continue Reading January 15, 2010 at 4:43 pm 2 comments

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