TRUCKING COMPANIES

Trucking companies caught in Trump’s payroll tax deferment order

Trump orders a cut to payroll taxes

President Donald Trump issued an executive order on Saturday providing relief for Americans from the payroll tax. It was part of a broader package of orders he signed but is perhaps the one that is most confusing at this time for employers and many trucking operations may be wondering what to do.

The order instructs employers to defer certain payroll taxes on Americans making less than $100,000 a year through the end of 2020. According to Kiplinger, American workers pay 7.65% of their wages in...

https://s29755.pcdn.co/news/trucking-companies-caught-in-trumps-payroll-tax-deferment-order

PayCargo helps shippers, forwarders pay it forward

PayCargo

The downturn in imports and exports over the past five months due to the coronavirus pandemic has left many small and mid-sized companies wondering if they will be financially prepared to participate in the global economic recovery.

Strict COVID-19 travel restrictions and reduced freight volumes have severely disrupted cash flow between the myriad players typically involved in international freight transactions – shippers, freight forwarders and customs brokers, and carriers.

Philip Philliou,...

https://s29755.pcdn.co/news/paycargo-helps-shippers-forwarders-pay-it-forward

Commentary: It’s time to keep truckers safer

The views expressed here are solely those of the author and do not necessarily represent the views of FreightWaves or its affiliates. 

Truck drivers have always kept our economy moving. About 80% of all cargo in the United States is transported by trucks, and the trucking industry itself is responsible for roughly 6% of all full-time jobs in the country – employing about 3.5 million professional truck drivers. Without truckers, the American economy would grind to a halt.

No event in recent...

https://s29755.pcdn.co/news/commentary-its-time-to-keep-truckers-safer

Universal Logistics’ profits plunge nearly 30% as COVID-19 hits truckload

A tractor-trailer of Universal Logistics Holdings

Universal Logistics Holdings (NASDAQ:ULH) reported on Thursday that its profits fell by almost 30% during the first quarter as COVID-19-related slowdowns in manufacturing and retail hit its truckload and dedicated operations. 

Universal Logistics had a net income of $12.2 million, or 45 cents per share, on $382.2 million in revenues during the quarter. Net income came in 29.4% lower than a year earlier, while revenues increased by 1.2%.

CEO Tim Phillips characterized the results as “pretty solid”...

https://www.freightwaves.com/news/universal-logistics-profits-plunge-nearly-30-as-covid-19-hits-truckload

Trucking companies at L.A. port under pressure?

Seeking new avenues to pressure trucking companies at the Port of Los Angeles to stop classifying their drivers as contractors, a City Council committee voted Friday (Oct. 19) to support a Southland congressswoman’s bill that would create a federal task force to investigate the issue.

Some port truckers maintain they are improperly classified as independent contractors in a scheme that deprives them of benefits and job protections while increasing their overhead costs by forcing them to lease...

http://container-news.com/trucking-companies-l-a-under-pressure/

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