Fuel tax reporting software is imperative to any business with vehicles on the open road. The Internal Revenue Service insists that meticulous records be kept for the purposes of applying tax credits and other incentives to government offers. Also, fuel tax reporting software allows the business to properly track its business costs so they can be deducted from the profits.

But before you rush out and buy fuel tax software, take the time to learn about the many programs on the market. Their applications can vary greatly. It may take you a little time up front, but finding the software that really fits your business will save you headaches down the line. Think of your tutorial as "fuel tax reporting software for beginners."

1. Learn about fuel tax reporting software by educating yourself on the various programs and their applications.

2. Take a tutorial on fuel tax reporting software programs to understand how they work and their multitude of functions.

3. Enroll in a training course that specializes in fuel tax reporting software.

Action Steps
The best contacts and resources to help you get it done

Find out about IFTA software and the basic overview of how it is used

Take the time to familiarize yourself with popular fuel tax software programs that are currently on the market. Some programs are geared toward smaller companies with just a few vehicles on the road, while others are geared for major corporations whose trucks traverse the United States on a daily basis.

I recommend: Check out the website for Axon Trucking Software. They offer a program called IFTA Fuel Tax Management Software. Also check out the company website for Wolf Byte. They have also created a fuel tax software program used by many industry professionals.

Watch a demonstration of fuel tax software

Tax software for truckers can be quite complex as a company tries to keep track of a large fleet, how far they're driving, the loads they are pulling and how much fuel they are burning. Taking a tutorial of various software applications will educate you on the program works so that you can decipher if it's a fit for your business and if it will integrate well with your accounting departments other software.

I recommend: Visit the website for Road and Fuel Tax Software. They offer an online demonstration. The only catch is that you must fill in some personal information in order to get the download. Also, Omni Communications has a full fledged tutorial on their website.

Take a training class on IFTA software

When it comes to learning more about IFTA trucking software, one of the best tools you can utilize is taking a training course. Courses for IFTA reporting software are offered in online forms as well as in person seminars. This provides the business owner with a multitude of platforms on how they can train their employees to work on the latest fuel tax software.

I recommend: Visit the website for Innovative Computing Corp. They offer classes on fuel tax software and how to use it. J J Keller and Associates also offers training and education both in online and in-person forms on the assessment, planning and implementation of their software.

Keeping track of all those trucking receipts for your fleet can prove time-consuming, to say the least. If you make a mistake, or one of your drivers forgets to turn in a form, then the possibility of error on your fuel tax reporting ushers in a whole new set of worries.

IFTA software solutions can help you eliminate those worries while reducing the time you spend on fuel tax reporting for your truck fleet.

The IFTA, or International Fuel Tax Agreement, allows you to submit tax forms from your company's base state no matter where your fleet trucks travel, meaning you do not have to submit multiple tax forms covering the states visited by your fleet.

You can purchase the software on CD, or you can access it directly online from the manufacturer. To get the most for your money on an IFTA fuel tax program, make sure:

1. The fuel tax software significantly reduces paperwork.
2. The fuel tax program offers a good return on your investment.
3. The IFTA software easily and accurately tracks mileage.
4. Offers automatic features that help with otherwise tedious tasks, such as tracking fuel prices.

Action Steps
The best contacts and resources to help you get it done

Find a fuel tax program that cuts down on paper

Fuel tax reporting software should help you generate multiple reports for your fleet without repeat data entry.

I recommend: Fuel tax reporting software such as ProMiles handles multiple reporting requirements in one program. To keep up to date on mileage, Mile.com's TaxTally program keeps track of important information such as state mileage for you.

Research online IFTA fuel tax reporting tools

Just like online income tax programs, these fuel tax programs help your company stay compliant. As a bonus, you can update information from any computer no matter your location.

I recommend: Fuel Tax Master Online from J.J. Keller & Associates Inc. allows you to enter and monitor trip data, scan and attach receipts and much more. Or, take a look at the online form provided by TruckTax.

Research the return on your investment

Make sure you purchase IFTA fuel tax software that will pay for itself in savings within a few years. Fuel tax software should show a return on investment in that time.

I recommend: ProMiles Software Development Corp. offers a savings calculator on its website that estimates how much your fleet could save with more accurate mileage and fuel tax reporting.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  If you're using online software, look into how the program will charge you. Some fuel tax reporting software programs charge by fleet size while others charge per truck.