With a CFN fuel card from TravelCard Commercial Fueling, all your fuel purchases are consolidated into a single account. This means you no longer have to juggle multiple receipts or sift through various payment methods. Every transaction is recorded and organized in one central location, making expense tracking and reporting effortless.
Having all your fuel transactions in one place simplifies your expense management process. You can easily monitor fuel expenditures, identify trends, and analyze usage patterns. This level of insight allows you to make informed decisions to optimize your fuel budget.
Imagine the time saved by not having to reconcile multiple fuel receipts from different sources. A CFN fuel card eliminates the need for paperwork and administrative tasks associated with handling various payment methods, allowing you to focus on more critical aspects of your business.
With our new web portal, along with your billing statement, you are able to keep track of everything fuel related. With all of your transactions in one place, you have the ability to clearly see every penny spent, and every gallon consumed. The Date, time, location, site #, fuel type, gallon amount, purchase price, state and federal taxes, mileage, vehicle, and driver, are all recorded.
With a CFN fuel card, you have centralized control over your fueling activities. You can set spending limits, control where and when the card can be used, and the cards are restricted to purchases fuel only, minimizing misuse or unauthorized spending.
CFN has an extensive network of over 4000 fueling locations across the country, combined with 50,000 Fuelman retail stations, giving you have access to a wide range of fueling options, making it convenient for your drivers to refuel wherever they are.
The ability to access wholesale pricing can significantly impact your bottom line, for businesses of all sizes, especially those with large fleets. With the combination of wholesale pricing at CFN locations, and retail pricing at retail locations, your drivers are able to fuel practically anywhere, saving time, while also keeping fuel costs as low as possible.
Using a CFN (Commercial Fueling Network) fuel card for diesel with a truck over 26,000 lbs. that falls under the Oregon Public Utility Commission (PUC) regulations can offer several tax benefits. Here are some potential tax benefits you may experience:
Reduced Fuel Taxes: In some cases, certain types of vehicles, including trucks over 26,000 lbs. regulated by the PUC, may be eligible for reduced fuel taxes. By using a CFN fuel card, you can access these lower tax rates when refueling, helping to lower your overall fuel expenses.
Accurate Tax Reporting: CFN fuel cards often provide detailed transaction reports that include essential information such as gallons purchased, fuel type, and location. These reports can simplify your tax reporting process by providing accurate records of your fuel purchases, which can be crucial for tax deduction claims and compliance.
Streamlined Expense Tracking: With a CFN fuel card, all your fuel purchases are consolidated in one place. This simplifies your expense tracking and makes it easier to identify eligible tax deductions associated with your business operations.
Enhanced Documentation: Proper documentation is essential for claiming tax benefits. CFN fuel card receipts and transaction reports can serve as valuable supporting documentation for your tax filings, demonstrating your eligible fuel expenditures.
Savings on Taxable Income: Lowering your fuel costs through reduced fuel taxes directly contributes to reducing your overall taxable income. This can lead to lower tax liabilities and increased profitability for your business.
Time and Resource Savings: CFN fuel card features, such as accurate reporting and consolidated records, save you time and effort in preparing tax-related documentation and filings.
It’s important to note that tax regulations can vary, and the specific tax benefits you can access may depend on your business’s unique circumstances, the nature of your operations, and any changes in tax laws. To fully understand the tax benefits applicable to your situation, it’s recommended to consult with a qualified tax professional or advisor who can provide personalized guidance based on your business’s details and current tax laws in Oregon.
In Oregon, as well as in many other states, there are tax exemptions and regulations in place for off-road diesel fuel. Off-road diesel fuel is commonly used in equipment such as construction machinery, agricultural tractors, generators, and other non-highway vehicles. Here’s how tax exemptions for off-road diesel work in Oregon and the difference between off-road diesel and red dye diesel:
Off-Road Diesel Tax Exemptions in Oregon:
Qualification: Off-road diesel fuel is subject to a lower tax rate or exempt from certain taxes because it’s not used on public highways. To qualify, the fuel must be used exclusively for off-road purposes, meaning it’s used in equipment that is not operated on public roads.
Tax-Exempt Purchase: When purchasing off-road diesel fuel, you can often buy it without paying certain state and federal excise taxes that are included in the price of on-road diesel fuel.
Record Keeping: To benefit from the tax exemption, you typically need to keep detailed records of your off-road diesel fuel usage. This documentation helps prove that the fuel was used for qualified off-road purposes.
Difference Between Off-Road Diesel and Red Dye Diesel:
Off-Road Diesel: Off-road diesel fuel is a type of diesel fuel formulated for use in non-highway vehicles and equipment. It is intended for machinery that is not driven on public roads. The fuel itself is similar to on-road diesel fuel but is often dyed a different color (usually red) to indicate that it’s for off-road use.
Red Dye Diesel: Red dye diesel is a colloquial term used to refer to off-road diesel that has been intentionally colored with a red dye. This dye is added to distinguish it from on-road diesel fuel. The red dye serves as a visual indicator to tax authorities that the fuel is being used off-road and is therefore subject to different tax rates or exemptions.
Enforcement: If you’re caught using red dye diesel (off-road diesel) in vehicles or equipment that are operated on public roads, it can result in fines and penalties. This is because the lower tax rates or exemptions are applicable only when the fuel is used for qualified off-road purposes.
It’s essential to comply with the regulations and documentation requirements for off-road diesel fuel to ensure that you benefit from the tax exemptions properly and avoid any legal issues related to the misuse of red dye diesel. Always consult with tax professionals and stay informed about the specific rules and regulations in your state.
In essence, keeping all your fuel transactions in one place with a CFN fuel card from TravelCard Commercial Fueling, offers you streamlined processes, valuable insights, and greater control over your fuel-related expenses. This convenience translates into saved time, improved efficiency, and potential cost savings – all of which contribute to the overall success of your business.