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Do Find a good accountant that has experience in the trucking industry. Open an account for your trucking company and keep separate from your household account. Plan on a lot of long hours Be ready for physical and mental work Keep your truck clean Keep your truck properly maintained Properly complete paperwork Keep records in good organized condition Be professional when dealing with others, regardless of your frustration level Be a role model to other drivers Your homework - ignorance is no excuse for improper paperwork Be polite Obey the law Have a working knowledge of the Federal Motor Carrier Safety Regulations (DOT Safety Rules) Keep a copy of the FMCSR in your truck (a pocketbook version can be purchased at most truck stops) Develop a Preventive Maintenance Schedule and stick with it Inspect your truck daily - a good way to catch small problems that can quickly become major problems Travel clean - pack enough clothes to last 1-2 weeks. Avoid laundromats, they are expensive. Don't be afraid to ask questions be afraid to make a mistake, just try not to make it a big one give the shipper or receiver a hard time get behind with your paperwork get behind with the IRS Click here to view a list of terminology commonly used by owner operators. Records Keeping Tips Keeping the following records up to date will help you avoid future headaches. Visit with your accountant. He or she will be able to assist you with record keeping practices. The following are basic tips for regular record keeping. Daily List all expenses and file receipts Write checks as needed to meet due dates Complete trip reports as company requires Weekly Deposit checks Analyze expenses - are there ways to safely cut back in the future? Check settlements for accuracy Monthly Balance checkbook Quarterly Mail accountant trip records and income/expense records Annually Gather records for your tax preparer. Visit with accountant about your overall financial status