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How do I Choose the Best Fuel Tax Software?

Robin Raven
Robin Raven

Fuel tax software is a type of computer program that helps truckers keep track of any taxes they may be required to pay on fuel use or mileage, plus any rebates on these taxes they may be owed. To be sure that you are keeping track of all the necessary information and getting the best rebate for your situation, it's wise to use a professional fuel tax software. There are literally dozens of choices, but you can easily narrow in on what's right for you by looking at the features that each one has to offer the consumer. If you are going to be using the software frequently to track a significant amount of data, it is probably best to invest in a more expensive and extensive software. If it's only being used to compliment an existing system that you use for trucking paperwork, basic software may be all that's needed.

You want to first make a list of all the things that you need the software to do for you. Compare your strengths to your weaknesses — you want a software program that can do a lot of the work for you. A program with many different features is often expensive, so you should determine only what features you really need. After writing a list of what you need in a fuel tax software program, compare it to what the top contenders offer.

People may file their taxes online through programs like TurboTax.
People may file their taxes online through programs like TurboTax.

Look to see if the fuel tax software programs you're considering will hold complete business information such as income, expenses, tax information, shippers, and receivers. These are all important informational categories that need to be tracked. If one of the programs you're considering lacks the capability to track this information, it may not be the best software to choose.

The best fuel tax software for you is likely be the one that keeps track of all of your income and then breaks it down to show you how much profit you make per mile. This can be empowering and useful when looking at profit verses expenses. If you took out a loan towards a trucking business, this type of software can show you if that was a worthwhile business decision.

Look at the software summaries to make sure the ones you're considering cater to your needs. Some software programs are designed only for businesses, but some of the best fuel tax software options are only meant for consumers and single proprietors. You want to narrow your options down to programs that are designed for your specific situation.

Inquire to see if the fuel tax software you're considering offers invoicing. This can save you time, money, and manpower. When the software keeps track of all invoicing and provides you the paperwork for completing it, it may pay for itself with this feature alone.

Consider whether the software program offers free updates and upgrades when they become available. If you are purchasing the software at the beginning of the year to help you get on top of things, you don't want it to be out of date when tax time arrives. If the software doesn't provide updates, it may not be the best choice. There are many options, so a bit of research should allow you find the one that meets all your needs.

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    • People may file their taxes online through programs like TurboTax.
      By: mkreul
      People may file their taxes online through programs like TurboTax.