Transportation accounting

Transportation has been a key practice area of ours since 1971.

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Minnesota Transportation Accounting Services.

What’s driving your business?

It should be efficiency, employee retention and profit, but too often it is competition, revolving training and cash flow. You should have an advisor on your side to take a tax efficient, proactive approach to managing the top and bottom line and everything in between.

Whether it’s negotiating fuel surcharges or dealing with leasing sales tax and fleet maintenance, Smith Schafer has the experience and understanding of the transportation industry to make a lasting positive difference in your future success. Our Transportation Group, comprised of numerous professionals, is committed to serving over 110 Minnesota transportation entities.

We understand the industry and what keeps you up at night

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Managing a Fleet

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Driver Safety

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Labor Issues

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Internal Controls

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Cash Flow & Forecasting

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Mergers & Acquisitions

Transportation Companies Accounting & Audit Resources

specialized transportation industry services

Financial Statement Preparation & Review
Accounting Services
Cost Segregation Studies
Proactive Tax Planning
Entity Structuring
Employee Benefits Consulting
Bookkeeping & Payroll
Mergers & Acquisitions
Business Succession Planning
Estate & Succession Planning

Multistate Tax Consulting
State and Local Income/Sales Tax
Risk Assessments & Internal Controls Review
Projections & Other Financial Analysis
Health Reform Advisory
Budgeting & Cash Flow Analysis
Technology Consulting
Wealth Management
Insurance Coverage Analysis
Audit & Attest

Partner with an experienced team of CPAs to help you create saving opportunities both now and in the future.
Contact us today to schedule a consultation about your Transportation business.

Send Us a Message

Meet our Transportation Group

Our Client Survey Results

Average NPS score in the accounting industry – 38%

Net Promoter Score 83.9% 83.9%

Understanding of Client Needs 92% 92%
Delivers High-quality, Error-free Work 94% 94%

INDUSTRY INVOLVEMENT

Smith Schafer professionals have serviced and made a strong commitment the transportation industry since 1971. This includes membership and community involvement in a number of associations including:

Why Transportation Clients Choose Us

“Great customer service – always!”

– Baser Freight

“I have worked with Smith Schafer directly and indirectly since 1979. I’ve always felt comfortable and confident in the work they do. Smith Schafer knows the law, the regulations and the rules that support our business.”

– Minnesota Coaches

Transportation Industry Resources

5 Lease Accounting Guidelines for the Transportation Industry

These new rules will significantly impact the financial statements of transportation companies leasing real property, equipment, vehicles, and any other fixed assets. Here are five ways the new lease rules may affect transportation companies.

School Bus Companies: IRS Audits and Fuel Tax Credit Q & A

Over the past 45 years, we have dealt with several IRS audits involving the fuel tax credit claimed by our bus company clients.

ESOPs & Succession Planning for your Transportation company

This article will provide insight on employee stock ownership plans (ESOP) and how they can be an option for succession planning for transportation companies. An ESOP can provide many benefits, such as tax savings for owners and the business and increasing the culture of ownership by involving employees who have shown service and loyalty.