Every year as businesses approach the New Year, the one thing on their mind is tallying out the books at year’s end for that dreaded reporting to Uncle Sam. Tax time is always a time of major stress but not as you might think. It isn’t always about what you will owe in taxes but rather what comes along with that. What really worries most businesses within any industry and of all sizes is what they will find when the numbers are finally crunched.
What will their profits look like for this year and is there anything they could have done better, or differently at the very least? If you own and operate a delivery service or shipping company, there are some things you can do to increase profitability in the coming year with just a little more attention being given to fleet safety. How can you protect your fleet in the coming year? Here are a few suggestions proven to be highly effective.
Provide Driver Training at Company Cost
This may not be something you really want to think about as tax season approaches but it may be just that one thing that gives you a break in several ways. Company paid training classes are often tax deductible and although you may not get credits for what you’ve paid, the amount of new business you can bring in can offset that cost.
Many of today’s businesses are reluctant to sign on with new delivery services because they are as worried about their products getting to consumers as you are about protecting your fleet. Not only can this help to ensure your drivers have the latest training, but it is a great marketing tool!
Equip All Vehicles with Crash Avoidance Systems
A recent post on the Forbes website sought to answer the question as to whether Crash Avoidance Systems really did help to prevent accidents. After research and analysis, they decided that an aftermarket Collision Avoidance System as well as those that come equipped on new vehicles really did help to avoid costly accidents. Not only does this keep your company’s portion of repairs down (deductibles), but it seeks to prevent them altogether. Even a fender bender can be costly, so perhaps it’s time to heed the advice of Forbes and have your fleet equipped with these systems, another tax write-off we might remind you!
Regularly Inspect and Service All Vehicles
Finally, many accidents could have been avoided if fleet vehicles had been regularly inspected and maintained. Do you know how many accidents on the highways are the result of blowouts on big rigs, for example? Or, what about those accidents caused by a broken down rig on the narrow shoulder of the road? These are all things to think about because most, if not many, of those accidents could have been avoided if trucks were kept in good operating order.
These are all things you can do to protect your fleet in 2023 and even though there may be costs involved, they are nothing compared to accidents and breakdowns that could have been avoided. Along with the tax breaks your accountant is sure to find for you, keeping accidents to a bare minimum can protect both your company’s property (those rigs!) and your valued drivers. The new year is almost here, so let’s make this our resolution. Let 2023 be the year of safety for our fleets.
