By Colton Lawrence, CEO of Equinox Business Solutions
The COVID-19 National Emergency has impacted our world, our nation and the trucking industry in countless ways. The men and women behind the wheel as professional drivers are on the front lines of our country’s fight against this global pandemic – keeping the American supply chain moving with life-saving equipment and the essentials we need at home in our daily lives.
Those of us involved in the trucking industry who are not in the driver’s seat and not doing the vital mile-by-mile work that this moment requires have the following challenge: How can we do our part to support and encourage owner-operators, independent contractors and professional drivers at a time when they are most needed? How can we help this group of first responders during a time when this ever-evolving situation has inspired an historic federal relief response of $2.2 trillion?
For our Equinox Business Solutions team, answering these two questions was easy. At Equinox, we’ve logged many years working with owner-operators, independent contractors and small trucking businesses to do our best to provide insightful and respected tax, accounting and business advisory services. As we looked at how we could bridge the distance from the white lines of the highway to the bottom line of the business needs for our clients and others like them in the industry, we believe that we can best be of service to trucking by investing time into analyzing the CARES Act – the $2.2-trillion COVID-19 relief package that was signed into law on March 27.
Whether or not you’ve had time to read, watch or hear reports on the CARES Act, the provisions in this legislation are so massive they deserve a deeper look. And at Equinox, our focus in studying the CARES Act has been on this single point: How can the programs outlined in the CARES Act assist owner-operators, independent contractors and small trucking businesses?
The CARES Act and impact of the entire COVID-19 national emergency demand more than just words on a page – or on a website for that matter. At Equinox, we believe one of the most effective ways that we can be of service to our industry is by having an ongoing conversation about these topics.
Earlier this year, Equinox launched our first podcast series with the help of the PodWheels Network. Initially, we concentrated the focus of our podcasts on tax-related issues. However, as the COVID-19 situation became a national emergency, we have shifted of our podcasts to explore the current business, tax and accounting topics that matter most to truckers.
You can access the Equinox Business Solution Podcast Series through the following link: https://equinoxbusiness.com/podcast/
In our most recent editions of the Equinox Business Solutions Podcast, we have covered the key elements of the CARES Act, including the stimulus checks, the $350 billion that has been made available in loans and grants from the Small Business Administration. We plan to add more segments in this series as we continue an important conversation in doing our part to support America’s truck drivers – a group who stands among our country’s heroes during this national emergency.
Visitors to TheTrucker.com can access the April 3 podcast on the CARES Act through the player displayed below.