Haulin Assets

#3. DOT Numbers and MC Authority

Big step #2 of starting a trucking company, after setting up your business, is applying for your
DOT Number and MC Number, aka Operating Authority. You can't do much in trucking without
one or both of these numbers. How do you know which one you need or if you need them at all?
My buddy Tyler from Motorcarrier HQ and I cover all the basics in this episode.
Here are some of subjects we discuss in detail:

• DOT Number
• MC Number
• Operating Authority
• BOC-3
• Insurance (We just kind of scratch the surface. This will be its own future episode)
• Vehicle weights
• UCR
• FMCSA Compliance
  • Drug and Alcohol
  • New Entrant Audit
• Additional Permits
  • New York
  • New Mexico
  • Kentucky
  • Oregon

Most for hire trucking companies will need to apply for an MC Number in order to get their
operating authority. For your planning purposes, keep in mind it takes at least 21 days from the
day you apply and are issued your numbers, until you will legally be able to cross state lines as a
for hire trucking company. Once you do apply, the contact info you provide becomes public and
you'll start to receive a ton of solicitations for everything from compliance companies to
factoring and insurance. Watch out for snakes in the grass that try to take advantage of you.
There are a lot of shady companies, especially ones who try to make you think they are the
FMCSA (Federal Motor Carrier Safety Administration).

Every situation is different, what licenses and hoops you have to jump through might be different
than what your friend had to do. If you have any questions you can always talk to one of the
experts at motorcarrierhq.com, heck you might even get to talk to Tyler. They will talk to you
about your specific situation, absolutely no obligation. You can learn more by clicking here.

Head to http://haulinassetsllc.com/ for the full show notes.

#2. Business Entities and Taxes

This episode is a deep dive (and I mean deep into the “exciting” world of lawyers and
accountants) into the foundation of starting a business. I cover how to set up your business from a
legal and tax perspective. As part of this episode you'll hear straight from two experts. Preston
Koerner and Chris will go over the legal piece and Jason Grant with Trackin Assets will talk about
different tax considerations.

In the intro, Craig and I talk about partnerships and trying to determine if a partnership is right
for your situation. You can find the partnership questionnaire we refer to at motorcarrierhq.com.

In the interview with Preston, we cover the differences between an LLC and a Corporation, and
the pros and cons of each.

Visit http://haulinassetsllc.com/ for the full show notes and links.

#1. Top 5 Questions For New Owners

Welcome to the first episode of the Haulin Assets podcast. In this episode Craig and Chris will cover the 5 things you need to consider when starting a trucking company:

1. Go it alone or with a partner?
2. Where is the money going to come from?
3. Can you get insurance and make the down payment?
4. Do you have the right truck?
5. Are you willing to do what it takes?

We hope this episode gives you some good things to think about and gets you excited about living
the American Dream of owning your own business.

Visit http://haulinassetsllc.com/ for full shownotes.

ep.0 - Trailer

Chris and Craig give you a quick rundown of what to expect on the Haulin Assets podcast. Subscribe and listen in, and we'll help you go from truck driver to savvy business owner.

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