Do's and Don'ts at Landstar?

Discussion in 'Landstar' started by Trucking Popeye, Feb 10, 2015.

  1. Trucking Popeye

    Trucking Popeye Light Load Member

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    a

    I was an OTR driver from January - August / Switched to a dedicated account (Target) for the balance of the year. I made 17% more on a weekly basis running for Target due to the fact that I made $35 additional stop. On a daily basis I would lose about 125 miles worth of driving per day, but I picked up about $140 in stop pay. Plus ALL of my miles were paid FSC because we had to return empty trailers.

     
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  3. MysticHZ

    MysticHZ Road Train Member

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    The part I'm trying to reconcile is $1.35 per mile and $225K gross ... that comes out to 166,666 miles for the year or 3200 miles per week, over 52 weeks.
     
  4. old time

    old time Medium Load Member

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    At $1.35 mile, you ran 166,000 miles. Tall trucking
     
  5. Trucking Popeye

    Trucking Popeye Light Load Member

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    No....close but not quite. You are going on mileage only - stop pay was incredible (like I said = avg stop pay was $140/day for almost six months - home 1 weekend a month)
     
  6. Trucking Popeye

    Trucking Popeye Light Load Member

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    Shepherdsville, KY
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    Nope - just under 130k plus stop pay
     
  7. MysticHZ

    MysticHZ Road Train Member

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    OK ... makes a little more sense. Still seem like there's about $20k unaccounted for. But, that is neither here nor there. I really have 2 questions.

    First, looking at your numbers, regardless of how it was earned, you had revenues last year around $1.73 per mile, for all dispatched miles ... What is there about LS that has convinced you that you will achieve that same level of revenue or greater?

    Second, my net this year is $54.5K before taxes. $51K last year after taxes ... I did that on $173K and $178K of revenue and 124K and 128K miles. Same company as you, I don't believe our fixed expenses are that different. With an additional $45K+ in revenue, I would've expected your pretax net to be pushing $100K ... Where is the additional $45k in expense?
     
  8. Trucking Popeye

    Trucking Popeye Light Load Member

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    EXCELLENT QUESTIONS:
    #1 - I have spoken with well over 30 Landstar drivers and also watched the live demo on their load board. Every time I have asked them to do a load search (of their actual loads at that point in time) the numbers that keep coming up (including 100% FSC - which you don't currently received from the company you haul for) I am seeing "most" of the freight in the area that I want to run in excess of $2 per mile.

    #2 - Issue 1 -I have an excellent CPA that prepares my taxes and that is what he was able to get in down to.

    Issue 2 - OVER $100K PRETAX???? !!! Did you include per diem? Your numbers seem extremely high....in 3 years my pretax has NEVER been that high.
     
  9. flood

    flood Road Train Member

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    in 4 years i have never had a year that was UNDER $100k.... most years i run solo AND team but 2014 i did 100% solo..
    this is for 2014

    [​IMG]
    now with that said IF i was going to change companies it would be to go to Landstar... i have friends that i worked with that have made the move to Landstar and they are happy.... their pay check is about the same as mine they just have more freedom to pick there loads
     
  10. MysticHZ

    MysticHZ Road Train Member

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    Let me clarify ... My pretax is $54.5 solo last year. With your gross at $225K, it is you, that I would expect to be close to $100K.

    Also, my definition for pretax is gross minus operational expenses - fuel, insurance, payment, maintenance - before per diem and personal expenses. I do this for two reasons. One for comparisons sake ... these can vary from driver to driver. Second, from my standpoint they are an expense that I incur under any circumstance, being able to deduct them is just a plus.
     
  11. Trucking Popeye

    Trucking Popeye Light Load Member

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    Mine is after all deductions based on what I choose to pay myself. I am a "S" type corporation for the obvious tax reasons - LLC or sole proprietor is too costly. Mine is after every single deduction, hence "pay to me". Yes based off of the way you do yours I would assume I am much closer to $150k - $175k, that's just not the way I do it.

    Two different ways, both are valid - just causes some confusion when trying to speak numbers to one another.
     
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