Practical trucking insights. This article is general educational information; review the requirements of your operation and the terms of your particular contracts.
Keep Every Receipt
The International Fuel Tax Agreement (IFTA) simplifies the reporting of fuel use, but it still requires diligent record-keeping. Your fuel receipts are the foundation of your IFTA reporting. Ensure every receipt shows the date, location, gallons purchased, and price.
Track Miles Accurately
Your ELD is your best friend for IFTA. Ensure it is properly tracking miles per state. Discrepancies between your ELD miles and your fuel purchases are a red flag for auditors.
Understanding IFTA Math
You pay tax where you burn the fuel, not where you buy it. If you buy cheap fuel in a state with low taxes but drive mostly in a state with high taxes, you will owe money at the end of the quarter. Plan your fuel stops strategically.
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