More about Andrew Bollman
Andy is a CPA and trusted advisor with 15 years of experience providing tax, accounting, assurance, and consulting services to transportation industry owners and operators. He is a tax principal with CLA in the Minneapolis, MN office. He also consults with high net worth individuals and owners of closely-held transportation businesses on all aspects of tax planning, estate planning, and retirement planning. Andy is also the tax leader for transportation industry across CLA.
Blog Posts by Andrew Bollman:
-
The New Federal Emissions Standards’ Impact on the Transportation Industry
The U.S. Environmental Protection Agency announced new national greenhouse gas pollution standards for freight trucks and other heavy-duty vehicles.
-
Consider a Pass-Through Entity Tax Election to Maybe Save on Federal Taxes
Pass-through entities in many U.S. states now have the option to calculate and pay income tax at the entity level, which may offer tax savings.
-
Cashing in on Inflation Reduction Act Tax Credits
Review an example of how a company could use the Inflation Reduction Act benefits to recognize $50,000 of positive cash flow tax-free.
-
Inflation Reduction Act: Learn the Benefits for Transportation, Logistics
The Inflation Reduction Act is a game changer for investing in clean energy, offering new tax incentives, and financing opportunities.
-
Tax Relief Act – Now a Waiting Game
For most taxpayers, it may be a good idea to extend returns to see what happens with the Tax Relief for American Families and Workers Act.
-
Tax Relief On The Way?
This week Jason Smith (R), the House Ways and Means Committee Chair and Ron Wyden (D), the Senate Finance Committee Chair announced a bi-partisan agreement they called “The Tax Relief for American Families and Workers Act of 2024.” The proposed legislation includes some significant changes that could provide some tax relief for transportation and logistics […]
-
DOL Releases Final Rule for Determining Contractor Status
Earlier this week, the DOL finalized its ruling on determining employee or independent contractor status under the Fair Labor Standards Act (FLSA). The DOL put out the proposed ruling back in October, and the final ruling mainly follows the proposed regulations. The new regulations will mainly analyze independent contractor status on a “totality-of-the-circumstances” basis, which […]
-
Commercial Clean Vehicle Tax Credit
It’s been over a year since the Biden Administration’s Inflation Reduction Act was enacted, and we’re starting to see some of the programs starting to take shape. One of the programs that could impact the transportation industry is the Commercial Clean Vehicle Credit under IRC 45W. This is a credit where businesses and tax-exempt organizations […]
-
Transportation Companies are Struggling
Authored by Tony Faust and Andy Bollman As the 3rd quarter came to a close recently, it’s safe to say that the last few quarters have been interesting for transportation companies. We’ve seen soft freight rates, rising costs, bankruptcies, carriers closing their doors, high interest rates and companies struggling to manage cash flow needs. Economists […]
-
IRS Issues Per Diem Rates for 2024
This week, the IRS issued Notice 2023-68 announcing the special per diem rates for 2024 effective October 1, 2023. After rates have increase the last couple years, rates are set to remain at $69 for travel in the continental United States and $74 for travel outside the continental United States. While the per diem rates […]