A utility trailer having a low profile storage configuration. The trailer includes a frame, wheels, mounting assemblies for the wheels, a removable tongue and a wiring system. Each mounting assembly includes a swing arm and a shock absorber that are joined by a hub that is easily removable and in turn is rotatably joined to a wheel. Each swing arm is pivotally joined to an underside of a side rail of the frame. Each shock absorber is pivotally attached to an inner side of the side rail and each wheel is positioned outwardly of a respective side rail opposite a respective shock absorber. The wiring system includes a harness located in the interior of the tongue. The wiring system also includes a plug mounted on the frame and a receptacle mounted on the tongue that automatically mate when the tongue is joined to the frame.