IFTA Made Simple: Making IFTA Understandable
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- Опубликовано: 7 ноя 2021
- Welcome back to another video! Today I will be talking about IFTA and how it works.
My email: talkabouttrucking@gmail.com.
Dispatch Course: miranda-c-s-school.teachable....
you should be a professor in trucking university. one of the best explained technical caluclations video in a long time .
I really like your videos, very clear and informative
AWESOME simple information. Thank you for sharing
It’s pretty easy to understand and really helpful to avoid over paying tax. It really helped me to maximize the profit. Thanks!
The best video on IFTA by far!
Love it 👍💯 You are the best teacher of this ifta tax, made it really simple, be bless.
Best video on the subject!!
I’m in the research phase of our trucking business and these videos are clear, concise, and extremely helpful. Thank you from the bottom of this trucking family’s heart.
Thank you!
Can You do a Video Actually paying the Ifta More detailed
Great explaination! Thanks! 😘
Awesome video (even if your math is just a little bit sketchy 🙂)! Very easy to understand explanation of a significantly complicated topic.
You’re really good at teaching. It comes natural to you. Very informative, thanks!
Very informative!!!
When I do my quarterly IFTA, it’s never been that high usually. Usually about half of that, for running all 48 and being from TX.
"now comes the depressing part" with a smile lol. made my day..
Thanks for the information.
Tks for the class big likes
Best teacher... explained the topic beautifully
U can file ifta oregon ucr 2290 etc from India its cheap
Very good explanation
are you supposed to take the miles driven in each respective state and divide that by the mpg of that respective state (State A mileage / State A gallons purchased) or are you supposed to take the miles drive in each state and divide it by the average mpg (total mileage / total gallons purchased in the whole quarter) to get the amount of gallons burned in each state?
God Bless You!
Enlightening.
Thank you very much!
The Squeaky chipmunk voice is killing me 🤣😂🤣😂🤣😂
Thank you!!
Great, very informative, did you make any video on how to create account and file IFTA in real numbers ?
if yes please provide the link.
Excellent explanation, thanks a lot
So so helpful, thank you! You are a God send! This will help me understand and calculate my clients' quarterly IFTA taxes.
So yo filing ppl ifta and don't know how to calculate it properly
@@juniordavis168 No, I'm learning how before I offer this service. Im not up & running yet but I will be soon.
Your GPS will give you a report on purchases, and the comptroller site will let you enter the report numbers on their sites program. It’ll calculate your IFTA taxes, and tell you how much to pay with a card at their website. It’s never that high for me, usually between 50-75.00
@@montedyoung3247 thanks for the breakdown. I know exactly what you're talking about too. I just filed IFTA taxes for the first Quarter and it was pretty easy. Like you said, I used the GPS mileage report and then the fuel summary from the fuel card. Gotta learn how to do something before you do it 🤷🏿♀️ and that's exactly what I did. Thank you again for that breakdown.
Thank you some much
In California there is a sales and use tax partial exemption on diesel fuel for the period October 1, 2022, through September 30, 2023
Thank you
Can you explain what are taxable kms and non taxable kms for IFTA? Ans taxable fuel and non taxable fuel
Thanks in advance.
This woman really has a million dollar smile
How the hell is a single owner-operator suppose to have time to log all this stuff down Accurately and still run and make money?
Should we use Garmin gps mileage records for each state or only ELD IFTA reports are acceptable for quarterly reports?
Could you please advise how to file IFTA after collecting all miles and fuel?
Could you verify that a 26ft box truck less than 26,000 doesn’t need to pay IFTA. I found information saying it is only necessary for a higher weight truck. Also do I need pre employment drug test for 2 none CDL drivers employees. I only found information for CDL drivers. I am not asking for advice only if you have information about these two subjects will be great. Thank you
Where would I get the information on what each state's current price is? I'm thinking of putting together an excel spread sheet but not sure where to find each states price.
I have my own authority which I have had for about 3 months but I operate under a big company's DOT (I leased out my truck while my authority is maturing). Do I owe ifta taxes on my personal DOT which is dormant?
I'm still a bit confused I run NJ and PA but y truck is register in PA now i started fueling in PA more because now I understand the tax concept. But what I am trying to understand is the milage calculation I'm still confused in that part do I divide in half or how do i do it i run about 250 miles each day that going and coming back. so dived that by two is 125. but if you can answer me this please i would greatly appreciate it. and love your other videos by the way very very informative.
You don't decide by 2 to get the mileage unless your departing address and your arrival address are the exact distance from the state line
Yes dear
That's why we don't buy cheap Wyoming fuel or cheap non ifta fuel in Oregon
I would like to use your services for get the usdot and mc
Hi, I've just subscribed, I like your videos, I havea question and maybe you can help me out, I'm leased with a company and I'm thinking of getting my own authority. From what I understand you need to open up a new insurance policy, and when you finish getting all the information on the fmcsa page it'll take 31 days for the fmcsa to activate your authority and be able to book loads. So my question is, how can I keep working with the company I'm leased with? I'll like to keep on making an income and not have to park my trucks, is that possible?
Hi Adan. There is a 21 day protest period once you apply for your authority with the FMCSA. After that, as long as you have insurance and BOC 3 on file, your MC will get activated after those 21 days. If you are leased on to your company, you are working under their authority. Once you get your own authority activated, you can go your own way and run under your numbers.
@@TruckingMadeSuccessful Thank you for your quick response, Correct me if I’m wrong but don’t you have to have an Insurance on file when filling out an application for MC number? and will that create a problem with the Insurance company having two policy’s active ?and can I even activate a new policy if my trucks are being insured by the company I’m leased with?
Question-Hello btw, I read your response to previous questions so I don’t believe this is a repeat. What is the best way to track the miles driven through each state?
Your ELD should do that- we use Motive (formerly Keep Truckin) that tracks everything for IFTA :)
@@TruckingMadeSuccessful Awesome! Thank you!
Lol this’s serious question
I noticed that even though you wrote down your total in fuel costs, do we actually need that? Other than for you own records. I don't think it was used for the sake of figuring out numbers for IFTA Taxes
Why u have to pay more taxes if fuel is already taxed included. I am still confused lol
Is this somthing that a CPA keep track of or do you handle it yourself ? Is there a software that design for this?
No, a CPA doesn't keep track of IFTA, this is something you have to do on your own. If you have an ELD with IFTA capabilities, the ELD will calculate your miles in each state. It will then be up to you to calculate your fuel purchases :) In terms of a software, the closes thing would be that ELD
Is there an App for that?
❤❤❤
It would nice if it were that simple for multi- states and Canada.
How do I file ifta MN,OH please ?
I confused. When I x up the consumption with the tax rate I am getting a different #. Is there a special calculator or formula?
I get $718.49
What am I doing wrong?
I am reading the comments because I too get a different total as you .
So if you're driving 48 states you have to do this for every state you drive through in that quarter?
Yes sir!
I think the consumption calculation for CO is incorrect. Total miles 20,160 divided by 7.3 mpg is 2,756.25 gal. Not 2,671.6 gal.
👍
Thanks for a thorough explanation! But I gotta say, your beauty distracted me a lot while watching this video :)
Hey, hope you're doing fine. I have one or two questions on this topic. Do I need to file for KY, NM and NY even tho I have 0 miles driven in that state? If yes, should I write 0 miles, 0 gallons, or what? And what If i do not have permits for those states, then I do not file em? And what about Oregon? Oregon does not need to be filed separately like these states or? Also, do you have in plans to speak about safety and compliance in the future?
Hi Mihailo! For IFTA, you only include states where you have either driven miles, purchased fuel, or both. Some states dont have the option of "deleting" the state where you didnt have activity. In that case, you just put zero's. If you are running through or operating in Kentucky, NM, NY or Oregon, you will need permits for those states. For KY, NM, and NY, if you had no operations during a quarter, you still have to file a return but put a zero in the miles. For Oregon, you have several options. 1. Get temporary trip permits and pay upfront for the miles you are planning to run in Oregon. 2. Get a permanent permit by posting a $2000 bond and filing Oregon miles every month- after 1 year of filing, you can start filing every quarter in Oregon. And just like with the other states, if you had no miles in Oregon, you still have to file but put in 0 miles.
I will be making more safety and compliance videos in the future, yes :) Will be making a video on what taxes and fees to pay and when soon! If you have any ideas, let me know!
@@TruckingMadeSuccessful Thank you for details answered! I appreciate it!
And when it comes about the videos, maybe detailed one about hiring new owner operator and company driver. Step by step or something like that, because there are not quality ones on the YT.
P.S. You got new subscriber here.
Thank you once again!
Hey, so I may be boring, but I've got one more question here. What if I do not have a receipt for fuel and there's not way I can find it. What to do in that case? Or should I ask, how to cheat on IFTA?
@@mihailoj2762 Not boring at all. So without a receipt you will not receive IFTA credit (the deposit in the "IFTA BANK"). In terms of cheating on IFTA, I wouldn't recommend it. Just like everything else in this industry, IFTA is subject to audit where an auditor will go over your miles and all your fuel receipts. If the auditor doesn't have the receipt for fuel purchased, the fuel tax will be reassessed with interest and penalties. Now in my over 2 years, we have never had an IFTA audit, but they do happen. I do recommend getting a fuel card like RTS where all your fuel purchases are stored in your online dashboard- that way even if you lose your fuel receipt, you will have it in the online system and get credit for those fuel purchases :)
@@TruckingMadeSuccessful Yes, I do understand that, but what If i can't find receipts, and I can't file 'em all. What will happen in that case? I guess, that will show my truck is using fewer galons per mile, but is that legal? I mean, is there a way for them to find if i missed one or two of my receipts or something like that?
And when it comes about IFTA miles, is there any room for error/mistakes when I'm entering those miles for each state?
So after the 2290 and stuff i file for ifta straight after or do i run the truck first? How does that go
After 2290, get your IRP and IFTA :) Then start rollin'
@@TruckingMadeSuccessful Your videos have helped a lot and I appreciate what you’re doing 🕺
@@TruckingMadeSuccessful do you have a email i can further ask questions about?
Talkabouttrucking@gmail.com
is it me or is the math wrong 2288.20 x 31.4 is 71,849.48 ok ok I know she most likely made a mistake on the 31.4 and is supposed to be 0.314 well her math is still wrong its 718.4948. I'm only asking because she had said 31.4 a few times. other than that, I kind of got a better understanding of ifta
Im sorry, but when I multiply 2288.2 X 31.4 I come up with $71,849.48 not $714.40. What kind of calculator are you using? Im not trying to be a smart ass here Im just trying to learn this...
Im confused too, I got the same number. 71,849.48
Hello, I multiplied and got other numbers UT 718.49 and CO 547.67 Why ?🙂
It's multiplying by dollars not cents
If i have a 2 axxel
10000lb gross weigt vehicle
Going all over usa i need ifta
How do I file for ifta in Florida?
Every state has its own website where you can file. For FL, you would pay your taxes via this website: www.flhsmv.gov/driver-licenses-id-cards/commercial-motor-vehicle-drivers/international-fuel-tax-agreement/
Why should I keep my IFTA. I run in California. But I primarily run to Phoenix, Las Vegas. The rest of the miles in California. My tax obligation this quarter was $467. When I first started I would run without IFTA and be fine at all the scales. Even got inspected in California twice and never did they ask for IFTA. Now I feel dumb. Because I paid for a permit to give away more of my hard earned money.
I have friends who are also owner operators running without IFTA, they run same lanes I do. But since they don’t have IFTA, which means they don’t go through the trouble of filing, record keeping and paying IFTA taxes..They’re telling me I should’ve never got it.
Why should I keep it??
Great questions I’m starting business and with research seen I need this to be in compliance but now I don’t know mhmmm
State troopers aren’t always well trained on IFTA enforcement. If you know of any truckers conducting interstate commerce without an IFTA registration then you can report them to the same agency responsible for administering IFTA in your state or province. We are working to improve IFTA compliance and IFTA is cracking down on states to meet their 3% audit quota.
@@Romano108 I wouldn’t feel right reporting people, sucks I feel like I’m giving away money my family and I could use. Anyway, I’m looking to dissolve my trucking company. This business just ain’t it for me. Going into to a different business next!
I see how you get it all but your numbers are wrong. Your gallons if both states added up do not equal 5040. So throws it all off.
Hopefully there is an App for this. haha :)
Do you have a program for calculating IFTA or do you do it manually?
Almost all states have an online program which calculates everything when you are filing IFTA. You just need to keep track of miles and fuel purchased. I use the ELD and Fuel card for that :)
@@TruckingMadeSuccessful o
I use the app IFTA Track on my iPhone. It pretty good at automatically tracking the miles. It breaks everything down by state.
Hello, I tried to look for this app Ifta track, but I can't find it
20.5 what your putting up is .205 that’s less than one cent
and again.
Suppose to be counting gallons over invisible lines in every state 🙄 ...registration.. fuel tax hikes ...ifta taxes all this shit for the roads then why are the roads complete shit..should just work for the city fixing the roads seems where the money is at 🤑
Please place subtitles in Spanish, thanks
I will definitely work on that!
So basically you have to pay taxes on top of the taxes you already paid. Sounds like extortion
No, thats not correct. You just have to pay the appropriate tax for each state you’ve driven through. In her example, she paid taxes to IFTA through the quarter at each pump purchase, then when comparing the miles driven in each state, she had to make up a little bit more in tax as she bought more fuel in a lower IFTA tax state but ran miles in a higher IFTA tax state. If it were the other way around and she bought all fuel in higher IFTA states and drove more in lower IFTA tax states then she wold be due a refund or possibly a credit to be used for the next quarter.
@@dskains diesel is cheaper in some stations in Ca ❤
Really? They couldn't make this simpler.
Pretty much overall it’s a scam!!! Extortion
IFTA was internationally agreed upon to ensure road maintenance receives proper funding based on the trucks using the states’ roads. There are several cross over states with a small tax base that could not afford to maintain their sections of roads without the program.