The Transportation industry sector comprises a wide range of service providers, covering all modes of transport – air, road, rail and sea. In addition to these ‘physical’ services, Transportation includes a variety of planning, organizational and management services in the area of transportation and logistics.
The economic downturn which started in 2008 has resulted in a dramatic drop in the transportation sector’s growth in 2009 and 2010. The industry has been suddenly faced with some of the most difficult market conditions in history. Trade routes are shifting and networks have become increasingly complex – as have the operating agreements between companies sharing resources. Regulatory requirements have changed substantially in recent years. In an interconnected world where companies are operating across national boundaries and together with many local partners, accounting and governance issues are becoming more complex, as is customs and tax compliance. Companies looking to build a durable business need to continuously offer added value.
Sousa & Weber works with several trucking and freight companies in the Long Beach, CA area and has significant expertise in accounting and tax matters pertaining to the transportation industry.